US Banks Are Using AI to Watch Customers and Employees

by Mike Brassfield | IT Pro

A number of US banks are starting to use cameras with AI software to analyze customer preferences, monitor their workers and watch for homeless people sleeping near their ATMs, according to Reuters.

Still, many banking executives are treading cautiously, worried that heavier computer surveillance could spark public backlash.

Previously unreported trials at JPMorgan Chase and City National Bank of Florida, along with earlier rollouts at various banks including Wells Fargo, shows financial services organizations see potential in AI tools, such as facial recognition software.

JPMorgan Chase is testing the technology at Chase Bank branches in Ohio, according to Reuters. Meanwhile, City National plans to start facial recognition trials to ID customers at teller machines and employees at bank branches.

Chase developed its AI camera system using components from Google, IBM Watson and Amazon Web Services. Its cameras aim to monitor banking transaction times, how many customers leave because of long lines, and what activities occupy workers.

Some banks use video analytics software to keep watch on their banks’ exteriors, including watching for homeless people setting up camp under the overhangs for drive-thru ATMs. Read Full Article at IT Pro >