AI makes use of a wide range of ideas, methodologies, and technology. Machine learning, deep learning, neural networks, machine vision, cognitive computing, and natural language processing are some of the subfields. Other AI-supporting technologies include graphics processing units GPUs, the Internet of Things (IoT), sophisticated algorithms, and API. Learning theory alone is insufficient. That is why students and professionals are encouraged to try and complete artificial intelligence projects. In this blog, we have jotted down a list of project ideas that includes suggestions for both students/professionals who are already familiar with the industry.

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Casualties of these breaches in the first half of 2019 alone include 4.1 billion personal records exposed in a variety of ways: 52 percent through hacking; 33 percent via phishing; and 32 percent through social engineering, with many involving more than one method. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Worldwide spending on security systems is projected to hit $131 billion by the end of 2020, and $174 billion over the next two years. Artificial intelligence (AI) and machine learning (ML) applications often form the core of these cybersecurity systems and are being deployed across banks, retailers, telecommunications companies and many other businesses.

Digital banking brought a transformational wave to the banking system. As traditional banking practices slowly adjusted to the wave, artificial intelligence quickly caught up and made the bot market hotter than ever before. VentureBeat's 2016 Bots Landscape showed that under 200 companies, which make products ranging from personal assistants to AI tools and messaging, had $22 billion in funding and came with a whopping valuation of $159 billion. But there is a reason for these massive numbers. Do you have an AI strategy -- or hoping to get one?

Finance, a traditionally risk-averse sector, is ahead of most industries, at least when it comes to using robots for customer interaction. Bank bots will soon be managing accounts, reminding users to pay bills, and giving advice on loans and investments. Banks have already dabbled in introducing automated customer service, especially for fairly predictable requests. Mobile banking via SMS started in 2003, enabling functions such as moving money around your own accounts or checking your balance and transaction history. But text prompts were often unwieldy, far from what a normal conversation should sound like, unless you communicate in code when speaking to your tellers.

We are slowly getting used to relying on technology to help us out in nearly every aspect of our lives, so it makes sense that banks are turning to the newest "small" innovation, chatbots, to help guide you, the customer, through your everyday banking interactions.Whether the chatbot reminds you how much you have spent on coffee so far this week, or talks you through setting up a new account, banks are putting a lot of stock in bots in banking being the "next big thing" in 2017. However, according to Forrester's Peter Wannemacher, the chatbots of today won't be able to keep up in the high-stakes world that is banking now. Wannemacher is confident about bots in banking--he just doesn't think that the technology is where it needs to be to offer the most right now.He says that banks are investing in technology that will help make the next generation bots, which will really have an impact on the industry. This basically just means that there is plenty of work to be done when it comes to bots in banking, but the chatty bot that takes care of front-end work is coming soon and will really improve the customer experience. It is easy to see bots in banking as the bright new trend of 2017: many tech companies are already spending a good deal of resources developing bots just for the financial services industry.

PUNE: Silicon Valley-based artificial intelligence company Payjo is set to launch banking bots in India in collaboration with Yes Bank and RBL. The company has signed deals with the two banks and is in talks with other public and private sector banks to launch banking bots or robots by early next year, CEO Srinivas Njay said. "These will be the top six banks in India by transaction value, and the launch will help greatly to ease the adoption of digital banking and creating more financial literacy in India," Njay said. The company had earlier this year launched a recharge bot, which it said garnered 30,000 users within three months for services such as recharge and balance reminders. The bot, which can be accessed in multiple languages, will be available over social messaging platforms such as Facebook Messenger, WhatsApp and Skype.

I just asked a bot to tell me how much I spent on coffee this past month. And a few moments later, it replied. Certainly, I drink an awful lot of coffee. After asking the bot for a bit more information, I can happily say I spent at least some of that nearly two hundred dollars on chopped fruit and the occasional pastry. The bot didn't actually explain this, but it did give me list all payments to coffee shops, which made things clear.

I just asked a bot to tell me how much I spent on coffee this past month. And a few moments later, it replied. Certainly, I drink an awful lot of coffee. After asking the bot for a bit more information, I can happily say I spent at least some of that nearly two hundred dollars on chopped fruit and the occasional pastry. The bot didn't actually explain this, but it did give me list all payments to coffee shops, which made things clear.