How AI Is the Next Step In the Digitization Of the Finance Sector

With the rapid advancement of technology, human lives have undergone a phenomenal change. By leveraging a slew of revolutionary next-gen technologies such as AI, ML, and Big Data, we are venturing into a new age of innovation wherein Industries across the spectrum are automating manual processes. This has helped in making our lives easier and seamless to a significant extent. The financial industry has also embraced this widespread digitization. Artificial intelligence has emerged as the flagbearer of this contemporary digital transformation. As per a report by Mckinsey Global Institute, it has been estimated that utilizing AI to enhance core banking functions and provide customized services to customers across the globe will extend a value of over $250 million across the industry.