This will relieve price pressures. Increasingly, we hear concerns that Europe, the United States and even Canada are heading for a recession. In our Business Outlook Survey released a few weeks ago, a majority of Canadian firms surveyed said a recession is likely in the next 12 months.
Banks are also looking to AI for a range of customer service applications such as chatbots that can help reset passwords, locate a branch or ATM, and check account balances without the need for human intervention.