Banks on Thin Ice: The Unintended Consequences of an AI Driven Future The financial sector's rapid adoption of artificial intelligence (AI) technology is putting big banks at risk of being held hostage by a select few Silicon Valley firms, according to Moody's.
This trend has significant implications for stability, security, and employment in the industry.
Moody's warning is based on verifiable data, which shows that more than 75% of City companies are already using AI to automate tasks or assist with core operations.