If the title of this blog conjures up images of a scary looking assassin robot chatting it up with an ATM, then perhaps we should just set the stage first.  Artificial Intelligence (AI), at least to the extent that it is possible in today’s technology, is really just computers either making decisions or giving us the curated, actionable information on which we can base decisions.  

This is only possible if the AI system has access to vast amounts of data that it can analyze and use to find patterns.  For the banking industry, this would include such information as when people withdraw cash, why do they use cards instead of cash, why do they use cash instead of cards, where are all of the ATMs in your area (including those that don’t belong to you), and other financial information.  But this is only the starting point.  One would need to factor in environmental factors as well – things like the weather forecast, whether or not a local sports team is playing today, the UV index, local events, and proximity of ATMs to those events.

It should also be set up to monitor the news and be capable of determining whether certain events are good for business or bad for business.  The International Tae Kwon Do Tournament is happening this weekend?  Good for business.  A string of robberies has occurred at coffee shops in the area?  Bad for business.  A tornado ripped through a small town yesterday?  That could mean an uptick in business if you run a nearby hotel or an ATM, but it would probably be bad for business if you run a boutique shop.  If the weather is beautiful and there’s a large food truck event happening downtown, you may need to schedule an emergency cash fill of your ATMs in the area.

If all of this information was harnessed and analyzed by an intelligent system, it could help to drive profitable business decisions.

We already have the information needed.  If a system were to consume the various public API’s already available, it could provide an artificially intelligent program with enough information to begin to drive business decisions and positively affect business in nearly any industry.

Joshua Carroll

Joshua Carroll is a Client Solutions Architect at Euronet Software focusing on pre-sales.  He has over 20 years of experience consisting of software architecture and engineering, several years of training development, curriculum writing, and classroom teaching.

Joshua is the recipient of the U.S. Army Civilian Service Commendation Medal, the U.S. Joint Service Commendation Medal, has earned several certifications in server administration and security, and has been trained as a cyber-terrorism first responder.  When he’s not changing the landscape of technology and the payments industry, Joshua is also a voice actor, play-by-play broadcaster, public address announcer, husband, and dad.