Artificial Intelligence is a reality today and is impacting our lives in every sphere be it the voice assistant SIRI in our smartphones or the Netflix recommendations we receive. AI is a blend of three advanced technologies- machine learning, natural language processing and cognitive computing. Banking is one industry that has been impacted by AI more than any other. The key application of AI that revolutionizes the banking industry over the last 5 years includes:
1. Anti- Money Laundering (AML) pattern Detection:
2. Chatbots for better customer interaction 24x7.
3. Algorithmic Trading
4. Fraud Detection using Machine Learning algorithms
5. Customer recommendation using recommendation engines
For smaller banks, AI can make a greater impact in differentiating them against intense completion from larger banks where they can benefit from operational efficiency.

 Read more at https://www.analyticsvidhya.com/blog/2017/04/5-ai-applications-in-banking-to-look-out-for-in-next-5-years/