Know your customer’ – Banks deploy AI systems to monitor customers & employees

A number of US banks have unleashed AI-powered cameras capable of both facial recognition and general behavioral pattern analysis, hinting at a wider rollout in retail stores and elsewhere – and a big drop in customer trust.
Speaking to Reuters earlier this week, City National’s chief information security officer Bobby Dominguez tried to put a positive spin on the dystopian step forward when interviewed by Reuters about the phenomenon on Thursday. noting “we’re already leveraging facial recognition on mobile. Why not leverage it in the real world?”

This cheery approach clashes a bit with the secrecy of the banks that are already using such technology – Reuters explained City National Bank of Florida, JP Morgan Chase, and Wells Fargo were conducting trials of AI surveillance systems, but declined to say when, where, or on what basis the recording takes place. Are the recordings held for months? Deleted after a day unless something really juicy happens? And while City National specifically mentioned it would be trailing 31 sites using facial recognition software that potentially could “spot people on government watch lists” that sounds like a lawsuit waiting to happen.

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