Several U.S. banks, including City National Bank of Florida, JPMorgan Chase & Co., and Wells Fargo & Co. are rolling out artificial intelligence systems to analyze customer preferences, monitor employees, and detect suspicious activity near ATMs.
City National will commence facial recognition trials in early 2022, with the goal of replacing less-secure authentication systems.
JPMorgan is testing video analytic technology at some Ohio branches, and Wells Fargo uses the technology in an effort to prevent fraud.
Concerns about the use of such technology range from errors in facial matches and the loss of privacy to disproportionate use of monitoring systems in lower-income and non-white communities.
Florida-based Brannen Bank's Walter Connors said, "Anybody walking into a branch expects to be recorded. But when you're talking about face recognition, that's a larger conversation."
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