July 31, 2019

How AI in Banking Helps the Financial Area: Samples and Cases

Every year artificial intelligence-based tools cover more and more business niches. At first, it was mostly entertainment and personal aid (probably, every person at least heard about Apple's smart assistant Siri or its competitors). Today this technology is beginning to enter the financial sphere, including banking. Below we are going to discuss the main problems solved by artificial intelligence in banking sector, and also consider seven existing solutions that are actively exploited by well-known US banks.

Artificial Intelligence in the Financial Sector: Overview

Currently, the use of AI in banking “took root” in three major branches of corporate activities:

AI in Banking - an Analysis of America’s Seven Top Banks

And now let's take a brief look at seven solutions that have been integrated into existing business processes of top financial corporations in the United States. This review should help you better understand how to use AI in banking:

AI in Banking: Prospects

Well, what are the prospects for AI in finances? In fact, we were able to identify five main options for the implementation of artificial intelligence in banking, which will be the most promising in the next few years:

Summary

As you may already understand from our analysis of AI situation in banking, artificial intelligence opens up the broadest prospects for the banking industry and in the near future, AI-based products are only going to grow in number. If you also wish to bring a project of similar orientation to life, you definitely cannot do without professionals. In particular, our developers are expert in developing AI-based solutions for the financial sector, and therefore it would be easy for them to implement the product of your dream within the stipulated time frame.

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