Artificial intelligence and the banks

 

Sir, – The prediction that an increased use of artificial intelligence (AI) in the financial services sector will lead to computers taking over what is ominously described as “back-office functions” is a little worrying (“AI ‘could wipe out’ 30% per cent of banking jobs in the next five years”, September 13th). AI systems will be running complex heuristics to optimise financial management, but with the finance experts not knowing enough about computers and the IT specialists not knowing enough about finance, no human will understand fully what is going on. There used to be a saying in computing that went, “To err is human, but it takes a computer to really mess things up”, or words to that effect. If human bankers can collapse the global economy, imagine what an AI computing system could do. – Yours, etc,

COLIN WALSH,

Templeogue,

Dublin 6W.