Banks are rushing to recruit AI leadership – but how will the tech be implemented?

Both regulators and clients could motivate banks to adopt Artificial Intelligence for greater efficiency gains in the coming years, an Amazon Web Services (AWS) executive has predicted, adding the trend could intensify the global race to embrace the cutting-edge technology.Over the past few months, multinational banks have approached AWS about how to grow their business in innovative ways, said Shaown Nandi, vice-president of technology at the US cloud computing giant, in an interview with the South China Morning Post.Though AI has already triggered massive lay-offs in the financial sector, industry surveys show the overall integration rate of the technology in the sector remains low.