We know that machine learning is making great strides in all major finance institutions increasing employee and customer ease-of-use processes. This will inevitably pave the way for more automated processes to replace manual and repetitive routines and procedures.
The three main issues found have been the performance when scaling of the technology for commercial application, ongoing regulatory uncertainties, and the difficulty of trust when bringing together various competitors.
Finance companies have managed to use artificial intelligence for risk management very efficiently and successfully.
The finance industry is now utilizing state of art artificial intelligence technologies to intercepts these frauds as early as possible and prevent them from taking place.
Technology is also being utilized in finance industry to perform efficiently and improve customer experience. Various innovations in mobile payments, blockchain, digital currencies are made possible with the advancement in technology.
As with all things there are two schools of thought with regards to answering this question. One group sees Artificial Intelligence (AI) as the cause of a dystopian future where the computers eventually take over and use us as slaves […]
Google, IBM, universities, and several other companies are throwing money at quantum computing but the question remains if they will be able to see a return on this money. We are just in the infancy of the quantum computing space, […]
Predictive analytics is the process of attempting to determine an outcome using statistics, historical data, and computer modeling. Banks and financial institutions find predictive analytics particularly useful in forecasting market movements and assessing risk. While it exhibits some similarities to […]
Chatbots represent the next evolutionary step in automated online assistance. A chatbot is defined as “a computer program designed to simulate conversation with human users, especially over the Internet.” Chatbots are most commonly used to provide text responses on websites […]
