Understanding artificial intelligence in credit unions

by Robb Gaynor, VisiFI

Are robots taking over the world? Is your credit union considering using AI to gain a competitive edge, or are you still undecided? These are real questions that many credit union executives are currently debating.  Tune in as host Jami Jennings, VisiFI’s Vice President of Digital Product Management and Member Experience, and her guest Robb Gaynor, a financial services executive, banker, and founder of Searching for AI, emphasize that sifting through data to find the “real story” is crucial for realizing AI’s full potential. Gaynor’s research aims to uncover live AI examples in financial institutions. Interesting top AI use cases he’s already identified in 65 AI providers, 50 features, and over 12 different departments across financial institutions include:

  • 19% Chatbots
  • 17% Loan Processing
  • 13% Customer Service
  • 8% Insurance Processing/Claims
  • 6% Banker Bots
  • 6% Payments
  • 6% Wealth Apps
  • 6% Compliance

For those on the fence about adding AI to the roadmap, Gaynor shares some advice and best practices that he gives financial institutions in getting started down the path of AI.

 

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