Machine learning

Readers weigh in on Mulvaney's plans to shake up the CFPB, respond to banks chasing hot tech trends, applaud fintech-bank partnerships and more.

The rise of AI, high-frequency trading and other complex activities is all the more reason for policymakers and financial executives to sharpen their understanding of science, technology, engineering and math.

Reconciling accounts, predicting market turns and their effects on portfolios, and even answering client faxes (yes, faxes) can all be done better with artificial intelligence, the custody bank says. Experts describe it as a cutting-edge program.

The bank’s AI-driven virtual assistant, which lets people quickly search transactions and cancel subscriptions and other recurring charges, was an instant hit. But BofA will have to take a number of steps to sustain erica's early momentum.

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