Talking with MX Research for an article recently published in the Credit Union Times, Ron Shevlin, Head of Research for Cornerstone Advisors, opined on the importance of AI and the banking industry. 

Finovate Blog

How Artificial Intelligence is Shaping Fintech

By David Penn

April 25, 2019

Read the full article in the Finovate Blog here, or an excerpt below:

Talking with MX Research for an article recently published in the Credit Union Times, Ron Shevlin, Head of Research for Cornerstone Advisors, opined on the importance of AI and the banking industry.

Shevlin, who will serve as the chair for the Artificial Intelligence Summit at FinovateSpring in San Francisco next month, said that “banks are at serious risk if they are not investing in the data capabilities and assets that are going to drive AI technologies in the future.”

He added that banks need to focus on the ongoing financial health of their consumers and that capability will only come about as a result of embracing technologies like AI and its data needs. As far as Shevlin is concerned, banks are better off trying to emulate Fitbit than Amazon.