AI in Fintech
How is AI affecting the financial industry?
At its' core, FinTech is the digital innovation in the financial industry.
Just a few years ago it was just about revolutionizing and facilitating payments and transactions.
But with the revolutionary changes in the Internet and computing technology in the past years, the field of FinTech has witnessed exponential growth.
Now Digital is the new normal for customers and the next big thing is the integration of AI
which may allow fintech to reach a completely different level.
At its' core, Artificial Intelligence is building smart machines capable of solving problems that typically require human intelligence. In recent years it has become a trend, a wide variety of sectors have started implementing automation, machine learning, robotics, analytics and other AI.
AI in Fintech
Just like many other industries, AI has revolutionized the financial industry. Not only does it improve the speed and precision in the industry, but it also has impressive scalability capabilities compared to human intelligence.
Main features of AI in Fintech:
Some AI Applications:
It's used in Chatbots, Speech-to-text and text-to-speech conversions, Machine translation and more.
It is just the beginning for AI as a variety of companies invest in its' development while it is getting smarter every single day and its' necessity increases.
Author: Mike from Infinittex
Date: June 9, 2020