News & Photo Source: mashable.com

Against a global backdrop of emerging technologies and ever-changing relationships between businesses and consumers, one thing is clear: leaders in the finance and banking industries will increasingly look to artificial intelligence to understand and engage with their customers in new ways.

According to a 2017 Forrester report, the widening gap between financial firms that embrace digital growth and business transformation powered by technology and those institutions that continue to do business in traditional ways will continue to widen.

As leading banks choose to experiment with new and emerging tech as an opportunity to engage with consumers in unexpected ways, conventional banks and financial institutions will be less able to compete on the global stage.

It may seem obvious that businesses choosing to leverage predictive technologies, artificial intelligence and mobile applications will be better able to serve their customers and ultimately deliver results. But the truth is many businesses are reluctant to experiment with new technologies and those who are investing may not be achieving their desired results.