How AI-powered platforms can disrupt the banking system - Spear's Magazine

From personalised recommendations to fraud protection, the data-crunching powers of artificial intelligence are changing the face of financial services, writes Alexey Utkin. The past few years have seen a number of exciting advances in artificial intelligence (AI) which could change the way customers interact with financial services. Examples are the evolution of predictive analytics, recommender systems, anomaly detection, decision trees, computer vision and voice recognition. These have enabled delivery of an industrial-scale personalisation and automation of various processes in the financial services industry. The majority of financial services are still aimed at specific financial products, meaning it falls to customers to analyse their own situation and then research which products they should be using.