sme banking
Leveling Up: Why SME Banking Needs Machine Learning
Just like a machine can be trained to help Mario navigate the course of life, a machine can be trained to provide autonomous, precise and relevant financial advisory to a bank's customers so that they can make better, more informed, decisions about their businesses. The technology is there, for Mario and for banks. The key question here is the availability of data upon which the system can learn and infer the next best action. Every time you open some of the most popular applications like Amazon, Facebook or Netflix, the most sophisticated algorithms springs into the action of analysing every little bit of data. For example, every second there are around 20,000 people on Facebook with 300 million photo uploads every day, 540 comments every 60 seconds and 293,000 status updates.