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The Financial Brand | To Succeed With AI, Invest In Humans

The Power of AI and Human Collaboration

Banking executives recognize the power of AI and humans to collaborate to create new customer experiences and business models. As a result, many banks are moving from the prototype stage of development to larger-scale applications. This said, banks must resist the pressure to capture only short-term market advantage.

According to Paul Daugherty and Jim Wilson, authors of the book ‘Human + Machine: Reimagining Work in the Age of AI‘, “The opportunity for newly skilled individuals to collaborate with increasingly intelligent machines and software will accelerate the shift from an assembly line approach to a more fluid ‘assemblage’ of teams and technology, capable of higher levels of creativity and innovation.”

The growth prospects of the AI revolution are not limited to immediate outcomes, but the need to move forward is immediate. The speed of the digital revolution is unprecedented. According to Gartner, deep learning and machine learning – two key emerging AI technologies – will reach mainstream adoption within two to five years. If organizations want to benefit from these opportunities, there is a need to take action … now.

A key part of this strategy will be to reimagine the future of work in banking, and to start moving toward a state of advanced AI collaboration. Or, as stated in the research report, move toward a model of humans helping AI to help humans.

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