It's time for banks to get more intelligent about artificial intelligence

Anyone who might have doubts regarding the extent to which technology has changed banking only needs to compare the trading floor of the mid-1990s to the current day. The noise and spectacle of open outcry trading has almost entirely been replaced by electronic trading systems. The change has been profound, with hundreds of years of tradition swept aside in a few short years. Trading floors will never look or sound the same again.

In comparison, the average neighborhood bank branch might not look like it's changed too much. There might be fewer of them, but most deal with customers with issues that they can't seem to solve online. These branches have a different function than they did years ago, and a tidal wave of technology is coming to continually revolutionize their function and role with the customer.

A Tesla Bot mannequin at Teslas Austin, Texas, factory opening party in April. Photographer: Suzanne Cordeiro/AFP/Getty Images

Artificial intelligence now has the potential to fundamentally change customers' relationships with banks, impacting every aspect of the life cycle from onboarding to retention and upselling.