Debunking the Myths: What AI Really Means for Banking
By Hugh Khan, Chief Technology Officer, Suntell and Intelligent Banking Solutions
In this insightful article, Hugh Khan addresses the most common misconceptions surrounding artificial intelligence in banking. As CTO of both Suntell and Intelligent Banking Solutions, Hugh brings a practical and grounded perspective to an often-hyped topic.
He tackles four major myths:
That AI compromises data security
That AI replaces people
That AI can “think” like a human
That avoiding AI is safer
Hugh argues that AI, when implemented responsibly, does not expose sensitive data or eliminate jobs. Instead, it enhances security, supports staff, and streamlines repetitive tasks—freeing up teams to focus on strategic work. He stresses that AI should always operate within clearly defined boundaries and never make unsupervised decisions.
Most importantly, Hugh emphasizes that avoiding AI altogether puts institutions at a competitive disadvantage. The key is thoughtful, secure, and intentional adoption.
