5 use cases of Machine Learning in the banking industry

Machine Learning (ML) is currently the verge that has the biggest impact on the banking industry. Take a look at how 5 largest banks of the US are using ML in their workflows. The Federal Reserve of the US has recently published an official report on the largest banks in the US. It lists quite a ton of banks, yet we are not surprised by the fact 5 largest and most influential banks of the US are investing heavily into imbuing their services with Artificial Intelligence (AI) and ML. Just to illustrate the efficiency of this approach -- these banks have closed more than 400 of local branches in 2016 and still met their margin thresholds, as mobile banking combined with the ML helped them meet and exceed their customer's expectations.