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NEWS: UK banks rank improving AML as top use of AI – Bank of England poll

General view of the Bank of England in London, Britain, October 22, 2021. REUTERS/Tom Nicholson

BY PAUL O’DONOGHUE, Senior Correspondent

IMPROVING AML and combating fraud is the second most useful benefit of artificial intelligence, according to UK banks.

A poll of financial institutions by the Bank of England and the Financial Conduct Authority asked companies the areas with the highest perceived current benefit of AI.

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