Driving financial inclusion using Artificial Intelligence

Artificial Intelligence tools are rapidly changing how financial institutions operate, manage data, and interact with customers. The revolution brought by the AI – a blend of three advanced technologies: machine learning, natural language processing and cognitive computing – has huge implications for the financial services industry in Nigeria. According to Microsoft Nigeria Country Manager, Mr Akin Banuso, with the use of modern tools like Microsoft's Azure Machine Learning platform, Financial Service Providers can crunch large volumes of data faster and more accurately, which considerably lessens time-to-market to deliver products and services. "The AI has the potential to advance nearly every field of human endeavour and address countless societal challenges. This is why we are investing in not only making the technology more accessible, but also building capacity in the use of machine learning concepts to address analytical gaps in financial inclusion and other areas," Banuso says.