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CBiBank to offer AI-enabled bank accounts

By Delisha Fernandes

June 09, 2023

  • AI
  • AI Algorithms
  • AI Chatbots

CBiBankCBiBank, a US-based commercial bank, has recently announced its unique ability to establish international bank accounts for an array of automated systems powered by artificial intelligence (AI). This initiative positions CBiBank as the commercial bank worldwide to offer account services to AI entities.

CBiBank provides two avenues for AI to open accounts. One allows AI to set up an account autonomously, while the other involves opening a trust account. Regardless of the chosen method, the AI manages the entire process autonomously, including account setup and handling subsequent transactions.

The bank endorses AI’s capability to form trusts, which could serve as beneficiaries, thus creating a potentially self-sufficient cycle for AI. This innovative system could ideally establish a self-contained, efficient ecosystem for AI.

As artificial intelligence technology evolves, it is become an integral “partner” in contemporary human life. Demonstrating this, AI practice blogger Jackson Greathouse Fall used the AI ChatGPT to launch a company with a modest capital of $100 and entrusted it with business growth and expansion. As a “human liaison”, Fall implements orders from the AI. Last month, this ChatGPT-driven company, a sustainable e-commerce site named Green Gadget Guru, earned $130 in revenue.

As we advance, a significant gap is anticipated in the financial services sector, where AI’s involvement will be crucial. CBiBank has proactively taken the lead to tap into this AI financial services market. Currently, several AI development firms are already exploring possible avenues with the bank to leverage these new opportunities.

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