Leveraging artificial intelligence (AI) in daily banking processes to excite nonretail banking customers, support revenue generation, (semi-)automate fundamental banking processes and/or better protect a corporate and investment bank from risks connected to its nonretail banking business are the focus of this paper. This paper provides empirical examples from its authors’ practical implementation experience in the two largest Austria-based international banking groups. The paper discusses identifying and building the most promising AI use cases for nonretail banking, setting up the IT infrastructure required to successfully run AI use cases in a compliant way and preparing the organisation and its employees to deal with this new technology ethically and in compliance with regulations. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Giesswein et al. (Thu,) studied this question.