Artificial intelligence tools are “ripe” to disrupt the private banking sector, Amnon Shashua has said, as his new digital bank One Zero prepares to expand its activities outside Israel.
Shashua last year launched One Zero — whose investors include Swiss private bank Julius Baer, US private equity group Cerberus and China’s Tencent — as the first new Israeli bank to be set up in more than 40 years, and is planning to apply for a licence in Italy by the end of the year.
The venture is one of a number of projects deploying AI spawned by the 63-year-old computer scientist, who co-founded and still heads the autonomous driving group Mobileye, and comes as the success of a new wave of generative AI products, such as OpenAI’s ChatGPT and Google’s Bard, has triggered a frenzy of investor interest in the sector.