How Is Big Data, Artificial Intelligence And Technology Disrupting The Financial Sector?

Financial services were one of the first sectors to understand the promise of the Big Data revolution, and the wave of new technology which has come with it – including artificial intelligence (AI). This isn't surprising – businesses in the sector traditionally define themselves by their ability to interpret and analyse structured data, and use it for making predictions and decisions. The shift towards Big Data has meant applying what they know about working with structured data – data which fits neatly into the rows and columns of a spreadsheet – to working with the messy, unstructured data that we are generating today, due to the increasingly digital, connected and online world we live in. Always keen to develop and exploit a new competitive edge, in recent years the financial sector has put the latest technology to work driving operational changes, increasing rates of fraud detection, improving customer services and developing new products. However, that's not to say it doesn't bring problems of its own!