Robotics Strike Bum Note for Big Banks
Legacy concerns and spiraling costs are making robotic process automation technology increasingly unappealing for big banks.
Artificial intelligence (AI), the parent technology branch that includes robotic processing automation (RPA), machine learning and deep learning, is still one of the hottest commodities in technology today—Microsoft has around 5,000 people working on AI, according to Sean Foley, CTO for financial services at the technology giant. To provide a sense of scale, that’s the same size as the teams that work on the firm’s Windows and cloud offerings.
However, while banks are beginning to see real
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