For Banks and Credit Unions, AI Can Be Risky. But What’s Riskier? Falling Behind.

From The Financial Brand

Artificial intelligence is transforming financial services, offering opportunities for efficiency, fraud prevention, and improved customer experiences. But with these benefits come significant challenges — data governance, compliance, and ethical considerations that can’t be ignored.

In this article, Ray Barata, Director of CX Strategy at TTEC Digital, emphasizes that the real danger isn’t AI itself — it’s falling behind. Barata argues that while AI introduces new risks, the competitive and operational risks of inaction are far greater.

From real-world use cases to practical strategies, this piece provides a roadmap for banks and credit unions to embrace AI responsibly and stay ahead in a rapidly evolving landscape.