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The Growing Impact of AI in Financial Services: Six Examples

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This article about AI in fintech services is originally written for Django Stars blog. Just as many other technological advancements, Artificial Intelligence came to our lives from the pages of fairy tales and fiction books (think of the Tinman from The Wizard of Oz or Maria from Metropolis). People dreamt about machines able to solve problems and release some of the fast-compounding pressure of the 21st century. Less than 70 years from the day when the very term Artificial Intelligence came into existence, it's become an integral part of the most demanding and fast-paced industries. Forward-thinking executive managers and business owners actively explore new AI use in finance and other areas to get a competitive edge on the market.


The Role of Artificial Intelligence In The Financial Service Industry

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Artificial Intelligence (AI) was developed some 70 years ago, but its implementation has accelerated in recent years. Slowly but surely, AI has a significant silent influence in your life through multiple and diverse applications. AI is assisted by machine learning advances and improved computing capacity, data storage, and communication networks. If there's one technology that pays dividends, it's AI in finance. The world of banking and the financial industry has given artificial intelligence a way to meet clients' demands who want smarter, convenient, more reliable ways of accessing, spending, saving, and investing their money.


AI and the bottom line: 15 examples of artificial intelligence in finance

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Artificial intelligence has given the world of banking and the financial industry as a whole a way to meet the demands of customers who want smarter, more convenient, safer ways to access, spend, save and invest their money. We've put together a rundown of how AI is being used in finance and the companies leading the way. A recent study found 77% of consumers preferred paying with a debit or credit card compared to only 12% who favored cash. But easier payment options isn't the only reason the availability of credit is important to consumers. Having good credit aids in receiving favorable financing options, landing jobs and renting an apartment, to name a few examples.


Top 50 Use Cases of Artificial Intelligence in Diverse Sectors

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The digital sphere is raining technologies. The influence of artificial intelligence is taking center stage with every possible improvement. Technology is changing almost all industries including banking and finance, healthcare, automobile, telecommunication, manufacturing, defense and military, entertainment and media, education, etc. The sub-domains of Artificial Intelligence such as machine learning, natural language processing, data analytics, and image analytics are also rolling out profitable use cases in diverse sectors. Besides, artificial intelligence is serving the business purpose by leveraging end-to-end automation processes. Therefore, Analytics Insight has listed the top 50 business use cases of artificial intelligence in diverse sectors. Predictive analytics is a gift to healthcare. Sometimes, we come across patients who say they underwent an unnecessary surgery due to a lack of predictions on what was coming. Fortunately, artificial intelligence is changing the fate of such burdensome risks and avoidable surgeries.


12 Use Cases of AI and Machine Learning In Finance

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There's no doubt that the finance industry is undergoing a transformational change. The recent years have seen a rapid acceleration in the pace of disruptive technologies such as AI and Machine Learning in Finance due to improved software and hardware. The finance sector, specifically, has seen a steep rise in the use cases of machine learning applications to advance better outcomes for both consumers and businesses. Until recently, only the hedge funds were the primary users of AI and ML in Finance, but the last few years have seen the applications of ML spreading to various other areas, including banks, fintech, regulators, and insurance firms, to name a few. Right from speeding up the underwriting process, portfolio composition and optimization, model validation, Robo-advising, market impact analysis, to offering alternative credit reporting methods, the different use cases of AI and Machine Learning In Finance are having a significant impact on this sector.