Artificial Intelligence is quickly becoming an integral part of banking technology. That should come as no surprise for an industry where extracting relevant information from a wealth of available data is especially important. But AI does much more than that and is being deployed for a variety of purposes, including analysis and fraud detection, trading, and customer service.
So you’re ready to dive into the exciting world of AI. However, in such a rapidly-evolving field it may be difficult to decide how to go about it. What’s the best way to create a robust and effective AI product? Should you develop a custom solution or buy one off the shelf? We gathered practical pros and cons for both options to help you decide.