How AI is Transforming Financial Services Ecosystem
AI has been about for more than 60 years, but only now becoming reality for organisations across all industries. Currently, there are more than 2,000 AI start-ups in 70 countries that have raised more than $27 billion.
The financial services industry is leading the way when it comes to both creation and adoption of AI – from managing assets to safeguarding against theft.
Banks are tapping AI to generate more accurate reports and process massive amounts of data faster. Financial institutions recognize the need to develop policies that spell out AI-driven approaches to a variety of functions such as credit scoring and compliance, which increases processing speeds, minimizes labour and other resource costs, reduces human error and improves customer service.
According to forecasts more than 85% of customer interactions will be managed without a human by 2020. $1 trillion. That’s how much analysts estimate that artificial intelligence will save the banking industry.
Financial Institutions are using robots to execute trades, detect money laundering and fraud, profile customers, spot the patterns and streamline low-value processes.
Banks have large data sets and decades of experience using analytical tools and building models. More and more financial institutions are working with FinTechs developing AI technology that can be applied in their daily processes. What are the advantages of implementing AI into Financial Institutions? How are new technologies changing the way banks assess credit worthiness for mortgages and how is AI applied in debt management? What are some successful use cases of implementing AI in Financial Services?
Join us on 4th October, to hear from some of the most cutting edge technologies in AI and how it’s transforming financial services ecosystem. The event is organised in partnership with Techspace
More speakers announced soon!