Machine Learning, AI and the Future of Data Analytics in Banking

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Banks and credit unions that don't embrace artificial intelligence and invest in the power of advanced data analytics are doomed.


What The Retail Industry Can Teach Banking

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Shopping with mobile devices is on the rise. Here's how this trend is reshaping what consumers expect from their mobile banking experience Subscribe to The Financial Brand via email for FREE!According to Adobe, 2017 will be the first year to break $100 billion in online sales in the U.S., an increase of 6% from the total of $94.4 billion for the holiday season in 2016. According to Adobe, consumers purchased $6.59 billion online during Cyber Monday, with purchases made on smartphones also breaking a record with $2 billion in sales. According to Adobe, overall online traffic was up 11.9% for Cyber Monday. During the long weekend between Thanksgiving through Cyber Monday, mobile was a big contributor.


Machine Learning, AI and the Future of Data Analytics in Banking

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Here's why banks and credit unions should believe in artificial intelligence and invest in the power of advanced data analytics. Traditional retail banking providers, weighed down by monolithic legacy systems and ponderous regulations, are in uncomfortable territory. Advancements in fintech have upended the industry, enticing both large financial firms and smaller tech startups to apply disruptive technologies in ways that threaten the status quo. To become more agile and remain relevant, traditional retail banking providers find themselves exploring their technological options with focused intensity. New innovations in data analytics empower financial institutions with systems that are so smart, they learn on the go, automatically refining their algorithms and improving their results over time.


Machine Learning, AI and the Future of Data Analytics in Banking

#artificialintelligence

Here's why banks and credit unions should believe in artificial intelligence and invest in the power of advanced data analytics. Traditional retail banking providers, weighed down by monolithic legacy systems and ponderous regulations, are in uncomfortable territory. Advancements in fintech have upended the industry, enticing both large financial firms and smaller tech startups to apply disruptive technologies in ways that threaten the status quo. To become more agile and remain relevant, traditional retail banking providers find themselves exploring their technological options with focused intensity. New innovations in data analytics empower financial institutions with systems that are so smart, they learn on the go, automatically refining their algorithms and improving their results over time.


AI Most Likely to Replace Traditional Retail Banking Jobs, Jianpu Technology Founder Says

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With the widespread application of artificial intelligence (AI) in financial fields, more and more related practitioners are beginning to worry about their jobs, especially in the traditional retail banking sector, said David Ye, founder of Jianpu Technology Inc [NYSE:JT], a US-listed financial technology company, at the Yicai Media Annual Summit yesterday.