Santander invests in artificial intelligence startups

Looking ahead: Santander bank's venture arm, Santander InnoVentures, bought stakes in Personetics Technologies and Gridspace.

NEW YORK: Spanish lender Banco Santander SA has invested in two artificial-intelligence companies, part of the financial industry's increased focus on technology smart enough to mimic human thinking, sources familiar with the deals told Reuters.

The bank's venture arm, Santander InnoVentures, bought stakes in Personetics Technologies, which provides automated customer service, and Gridspace, whose software can learn and interpret language the way a person would, the sources said.