{"id":1624,"date":"2020-04-17T01:40:27","date_gmt":"2020-04-17T01:40:27","guid":{"rendered":"https:\/\/www.appstudio.ca\/blog\/?p=1624"},"modified":"2025-03-24T09:21:02","modified_gmt":"2025-03-24T09:21:02","slug":"how-artificial-intelligence-is-affecting-the-world-of-finance","status":"publish","type":"post","link":"https:\/\/www.appstudio.ca\/blog\/how-artificial-intelligence-is-affecting-the-world-of-finance\/","title":{"rendered":"How Artificial Intelligence is Affecting the World of Finance"},"content":{"rendered":"\n

In banking, artificial intelligence helps people and improves the customer experience. Whether it is the sales force, the back office, the support functions, all the departments, and all the hierarchical levels are concerned.<\/p>\n\n\n\n

Traditionally, the financial industry has been one of the latest sectors in the adoption of new technologies. This is due, in large part, to the highly sensitive nature of the data they manage and too strong industry regulation.<\/p>\n\n\n\n

Despite this, in recent years, technologies such as Artificial Intelligence<\/a><\/strong> or advanced analysis are gaining more and more weight in various business units such as corporate banking. And the forecasts for its impact are even higher.<\/p>\n\n\n\n

First, let\u2019s comprehend what is artificial intelligence<\/a> exactly!<\/p>\n\n\n\n

What is AI?<\/h2>\n\n\n\n

If there is not a single definition of Artificial Intelligence, it can be determined as a set of technologies intended to imitate the human brain.<\/p>\n\n\n\n

Many areas are covered by AI such as robotics, speech recognition, learning, simulation of human reasoning, problem-solving, expert systems.<\/p>\n\n\n\n

Read More: What to Expect from Artificial Intelligence<\/a><\/strong><\/p>\n\n\n\n

How AI is Linked to the World of Finance?<\/h2>\n\n\n\n

The importance of these new technologies become even more relevant if we put it in relation to information management. This opens up infinite opportunities to obtain the maximum return on the key value of a financial organization.<\/p>\n\n\n\n

Despite the fact that AI provides multiple opportunities for the sector, I consider that there are five key areas in which this technology can be differential.<\/p>\n\n\n\n

Customer service<\/h3>\n\n\n
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\"Customer<\/figure><\/div>\n\n\n

Chatbots are used to perform functions such as answering frequently asked questions or solving customer queries. These tasks are normally very time consuming and quite tedious for humans. Thus, the integration of these systems powered by Artificial Intelligence:<\/p>\n\n\n\n