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Local banks embracing AI: RBZ

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Financial institutions can use AI — a combination of technologies enabling sensing, comprehension, action, and learning — to personalise advice, target product recommendations, detect fraud proactively, and for efficient customer support.
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THE Reserve Bank of Zimbabwe (RBZ) says financial institutions are in the early stages of artificial intelligence (AI) governance, emphasising the need for robust strategies and policies to guide its use in financial services.Since its advent, AI has had a profound transformative impact, changing how enterprises, including those in the banking and finance sector, operate…

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