MEDICI 23 Examples of How the Most Powerful Institutions Are Leveraging Machine Learning

Machine learning and artificial intelligence will become the most defining technologies in banking and beyond, which led some of the most powerful institutions to seek partnerships, investments, and in-house developments to take advantage of application potential of machine learning and AI. Let's look at a collection of examples of how leading institutions are utilizing machine learning to unlock value from the vast data pools they command and continuously accumulate. Aetna has launched a new security system for its consumer mobile and web apps that, in something of a twist, makes passwords optional. Instead of a password or fingerprint being the only barrier to entry, Aetna's new behavior-based security system monitors user devices and how and where a consumer uses that machine. Consumers can add biometric protection available on their devices. That risk engine takes in data from many attributes of the device (software configuration, operating system version, etc.), in addition to benign attributes of consumer behavior (for example, how a mobile device is held when texting and location of the device), and matches these attributes against a device signature and a model based on previous behavior. The risk engine binds a consumer to one or more of the devices they typically use.