AI is helping Deutsche Bank cut decisions for some smaller corporate lending from weeks to just minutes, its new technology chief Marie-Jeanne Deverdun told Reuters.
\n\nThe project, which went live in the summer, also reduces the time taken to make some lending decisions for multinational corporations from months to weeks, said Deverdun, who joined Deutsche Bank’s management board this year.
\n\n”For smaller corporates, which are less complicated in their setup and their legal structure, we’re talking weeks to minutes,” Deverdun said in an interview.
\n\nDeverdun said Deutsche Bank is also preparing for a future when its AI agents will interact directly with clients’ own agents, as lenders are drawn into the debate among technology leaders over whether AI development is moving too fast.
\n\n”We are watching that debate carefully. These are very valid concerns, and, obviously, the management of cyber risk is my number one priority,” she said.
\n\n”We’re spending a lot of resources and budget to continue to protect the bank from those new technologies and threats,” she added.
\n\nAlso read: Tata Communications plans $450 million investment for India's 'AI Super Highway'
\n\nBanking regulators are stepping up efforts to contain growing AI risk as lenders race to deploy the…
Original source: https://www.cnbctv18.com/technology/
