The latest Independent Banker magazine offers tips for community banks that are developing policies on artificial intelligence.
Details: According to the article, creating a robust AI policy is critical for community banks due to the sheer amount of sensitive information they handle. Steps that community banks can take include:
Figuring out where AI is already being used in the bank.
Setting guidelines for employee use of AI.
Assessing the customer impact of AI.
Ensuring the plan evolves as AI does.
Executive Branch Attention: President Donald Trump last week released an AI Action Plan and three executive orders on AI use within the federal government.
More: The July edition of Independent Banker also includes articles on face-to-face lending, instant payments insights for community banks, Federal Reserve interest rate policy, five tips for building a better banking app, and more.
Access: The magazine is available on the Independent Banker website and via the digital edition. Community bankers also can subscribe to Independent Banker’s newsletter to receive the magazine via email.