In Depth: China Banks Jump on AI Bandwagon to Cut Costs

Banks in China are turning to artificial intelligence (AI) to save on labor costs and improve efficiency, but the transition faces both technical and regulatory hurdles, according to experts in the field.

The worldwide AI fervor driven by ChatGPT, the intelligent chatbot developed by Microsoft-backed OpenAI, has led industries across the spectrum to start integrating these smart helpers into their daily operations. Banking is no exception.