Artificial intelligence

Financial institutions can improve monitoring of suspicious activity and potentially risky customers using algorithms, but they need to treat this new technology with caution.

Black Knight has acquired HeavyWater, a developer of artificial intelligence and machine learning technology for the mortgage industry, and plans to incorporate the startup's borrower data verification and other automation capabilities into its existing product suite.

Shari Van Cleave, head of Wells Fargo Digital Labs, says the bank is experimenting with artificial intelligence and augmented reality to create new ways to present data to customers.

Bank of America on where its AI hopes (and worries) lay; Zelle founder Paul Finch announces his leave from the payments network; the one area where banks and fintechs want more regulation; and more from this week's most-read stories.

Bank executives embrace the idea of artificial intelligence and say it will create jobs, while analysts say it will reduce jobs. Employees are anxious about AI but willing to try to work with it. All agree AI is already making an impact.