New York is seeking to procure a supercomputer to run artificial intelligence systems and gain a deeper understanding of the technology for more effective regulation. 

Some in the industry already use AI to help determine fair bid and offer prices and to summarize new-issue offering statements, but full integration into all aspects of the market is a ways away.

Experts discuss electronic trading, machine learning and more in this Leaders forum interview.

Artificial intelligence (AI) is increasingly gaining ground in a number of areas of banking and financial services. It’s deployed to identify fraud, make trading decisions, recommend banking and financial products, and evaluate loan applications. This helps to reduce the costs of financial products and improve their efficiency and efficacy. However, there is growing evidence that AI systems are biased. Join American Banker’s Executive Technology Editor, Penny Crosman as she explores key AI-bias issues for the banking and financial services industry with Sonja Kelly, Director of Research and Advocacy at Women’s World Banking and Wisam Dakka, Co-Founder of Meemo.

Lumesis' president, COO and co-founder Tim Stevens talks about how AI complements the company’s pricing and scales software to predict the shape of a deal-specific municipal yield curve based on the structural and credit-characteristics and to use that predicted shape to fill-in portions of a yield curve that cannot be built from traditional means. Lynne Funk hosts. (35 minutes).

The AI program is used to fill in gaps on deal-specific yield curves that cannot be built by observable trades and transactions, the firm says.

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.

The industry has long talked about embracing digital technology — but the time for talk may be over.

A survey of leaders across financial services finds that the COVID-19 pandemic has spurred companies in every industry to dramatically accelerate their adoption of AI and automation — even in cases where investments to date have proven inconclusive or disappointing.