Predictions for ArtificiaI Intelligence and Fintech for 2020

Throughout the past year, the use of artificial intelligence (AI) and other forms of technology within the financial services industry has continued apace. This will increase further as it dovetails with enriched natural language processing (NLP) through 2020 and into the coming decade and lead to more personalisation of services. Indeed, as noted in Crowdfund Insider, the European Union is to invest €100 million in artificial intelligence and blockchain start-ups next year, to boost the EU-wide innovation ecosystem. Globally, the Fintech revolution offers solutions to all manner of issues, and as we see in so many sectors, algorithms and AI can locate data and highlight trends. In doing so, such technologies operate automatically – and therefore can carry out functions much quicker than by human effort – and at a reduced financial cost as technology mitigates the need for large data-crunching teams.