Artificial Intelligence and Fintech

According to the recent reports published by a well-known consultation firm known as the Accenture, the investments in the domain of Financial Technology has risen up to 10 percent and has reached a staggering $22.6 billion in the year 2016. The epic rise in Fintech industry is attributed to the rise of industry in China which contributed a lot in bringing this boom. Many would wonder as what brought this excessive boom? The answer is, cutting edge technology which brought together the finance and technology together, along with a little addition of artificially intelligent machine learning algorithms which made the recommender systems more effective and efficient. This merger of finance and AI came proved to be the best for several startups and now that the market has seen the spark in this merger, every second start-up is working on bringing about innovations in lesser possible time.