AI push is putting banks at mercy of tech firms, warns Moody’s
Moody's, a leading credit rating agency, has warned that the banking industry's increasing reliance on artificial intelligence (AI) technology is making them vulnerable to the whims of a few large tech firms. This shift is driven by the need for banks to keep up with the rapid advancements in AI, but it also creates risks and requires significant investment. As a result, banks may struggle to maintain control over their own operations and could be exposed to potential disruptions or changes in the tech landscape.
Read the source report: The Guardian
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