How Cognitive Computing Will Transform The Finance Industry

The financial services industry has seen an increasing adoption of digital technologies to improve its business processes more than any other industry. This entanglement of technology continues with the introduction of cognitive technology in finance. The numerous applications of artificial intelligence in the finance industry is already providing numerous organizations -- both banking and non-banking ones -- with unprecedented levels of automation and efficiency. And the results are already inspiring many a finance CIO to adopt more applications of the technology for further enhancing their operations. However, despite the value added by the different AI applications in finance, the existing applications only scrape the surface of the huge potential held by AI technology. However, that does mean that businesses are not using enough intelligent technologies; it's just that the technologies used by them are not intelligent enough.