Allied Irish Bank has already found a wide range of uses for data science, from a scanning system that digitises the information in customer documentation to finding errors in tax deductions on mortgages that can arise due to regular changes in the rules.
"It's usually something we figure out and fix, but it annoys customers and it annoys the regulator and it costs us effort and time," said the bank's CIO Tim Hynes at the AI Congress London.
"We applied artificial intelligence looking backwards, and we discovered that if we had an AI watching what was going on and dealing with this for us, it would have identified over 90% of the errors that had slipped through the net."
He believes that the true potential of AI will be unleashed through the combination of quantum computing and 5G.
"In the future, with quantum computing on the back-end and faster communication, the processing doesn't actually have to be on the robot, so you start getting even more intelligent or clever activities and uses for the robots," he added.
"As you look at this stuff, think about where we've come from, understand the pace of technology, understand it's going to keep happening and ground it in practical use with a view to the future."