Banks begin deploying Artificial Intelligence to keep watch on customers & employees

By Ahsan Zafeer ⏐ 5 years ago ⏐

2 min read

Major global banks have started using surveillance software and computer vision to monitor their customers. Computer vision is a field of artificial intelligence that trains computers to interpret and understand what they see in the visual world. and then react to what they “see.” A Reuters news agency research found that the software is being utilized to learn about customers’ behavior, watch employees and spot the homeless people sleeping near Automatic Teller Machines (ATMs).

The growth of AI tools within the banking industry could signal the spread of the technology into other industries as well.

However, facial recognition technology has raised widespread civil rights concerns. Critics of the tool highlight the arrests of innocent people wrongly identified by the technology, and the loss of privacy is also a popular criticism of this technology.

JPMorgan is deploying the software to measure how employees spend their time while other banks seek to identify how many customers leave because of long lines and discover the transactions’ duration.

Source: VOA News

AI, Machine Learning

Ahsan Zafeer

A digital marketing professional specializing in content-based functional areas – Ahsan Zafeer is driven by a never-ending passion for developing, nurturing, and strategizing key content aspects. He writes extensively on tech, digital marketing, SEO, cybersecurity, and emerging technologies. He also serves as a digital marketing strategist and freelance consultant for globally oriented organizations. He tweets @AhsanZafeer