Data Science – Industries such as mobility, fintech, mobile money, payments, and insurance technology possess ample opportunities for those with limited data science expertise to uncover and demonstrate the potential of data science and AI within their organizations. These individuals are potentially overlooking a valuable opportunity to tap into these resources. One instance could be the discovery of unexplored avenues for generating innovative value with the aid of data science.

In modern times, every single business entity across the globe amasses a significant volume of data, either on a daily basis or in real time.

Introduction – Data Science

Intelligent machines that possess intelligence are not just figments of the imagination anymore. The opinions of specialists are split regarding whether the incorporation of machine intelligence should be approached with apprehension or acceptance. Undeniably, artificial intelligence is rapidly advancing and is poised to infiltrate a multitude of industries, such as financial technology, payment systems, and virtually every aspect of business, with the possible exception of traditional banking institutions.

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The earliest instances of neural networks (NNs) were created by Warren S. McCulloch (1943), a specialist in the study of the nervous system, and Walter Pitts (MCP), an expert in formal reasoning. The article titled “A rational system of calculation for the ideas inherently present in neural activity” was released in the Bulletin of Mathematical Biophysics volume 5, comprising pages 115 to 133. The system was comprised of a singular neuron that calculated the combined input weights.

Its output was either 1, if a threshold was crossed, or 0, otherwise. Almost every technology lets you wonder or forces you to think “How”? How do they know my voice or recognize my picture without any human intervention? When I ask a question from my team members or interview new candidates who are inspired by the world of AI and data science (for us, it’s mobile data science) about what they think and know about this fascinating world in terms of where it’s going, how it’s changing the world, and taking part in the second round of the industrial revolution, the responses are quite varied.

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For example, credit card issuers, with every credit card swipe and completed transaction, capture critical customer information. In the case of mobile payments or money, the same thing happens, or even in banks, the same scenarios occur. However, the raw data alone does not generate the insights needed to drive business decisions or is simply not good enough at all. It’s the proper analysis of this data that unlocks its true value.

Data science in today’s business helps you acquire the expertise to interpret data sets and leverage the insights gleaned to drive growth. This industry (AI) has just been born or is about to be born in a real sense.

AI To Get Top Jobs Everywhere

The domination of Artificial Intelligence (AI) is set to expand across various industries, occupying top positions. It will sit on top of every industry of today and dictate what, when, how to do it, and what not to do. AI’s best friend is statistics, which are used in real life to make sense of the information around us and how it affects us. Statistics looks at the data handling cycle and the analysis of the collected data. DNNs are the underlying architectures, which, in contrast to neural networks (NNs), consist of multiple hidden layers to predict with the help of regression or clustering.

This involves posing a question, collecting data on that question, presenting that data, analyzing the data (using measures of spread and center), and interpreting the results. Mapping this philosophy of data science into payments can represent excellent knowledge and help in planning and scheduling future needs after giving sufficient inputs to machine learning algorithms. In answering questions, it is essential that one can contextualize and justify their findings.

The answer is much simpler than it looks, or simpler than the complexity of our own thought process. The use of deep learning algorithms is the secret mantra of artificial intelligence. Developing efficient training algorithms for deep neural networks (DNNs) can identify your voice, a picture of you, and much more. How come my bank knows what I am going to buy next? How come my internet browser offers me ads for something I was searching for a few minutes or days ago?

Financial services websites provide tips either as site banners or web links and sometimes blog posts for their customers, but the content that comes out is dependent on the customer’s activities, including their spending, saving, investing habits, etc., and how they interact with the apps. Descriptive analytics is all about using cutting-edge tools meant for data science to understand what has happened in the past and how this will predict the future. This is for learning and knowing how to manage the present and future by understanding the past.

Payment Intelligence – The new Combo of AI and Digital Payments

Machine learning algorithms are often used for predictive analysis by data scientists. In the financial services business, predictive analysis can be used to tell the business what is most likely to happen in the future, i.e., who will spend when and on what. For example, with predictive algorithms, it’s easy to make predictions about customers whose wallets received funds or just got funded by any means, and if I can predict which event will happen next or which service will be triggered next, my crafted promotion can help push that event in my desired direction. This can be seen as a data science technique.


Best fit A linear regression line can be analyzed for prediction, and with a coefficient of correlation, I can have a safe game plan. If incoming funds can be seen as a variable “x,” which influences the variable “y,” i.e., merchant payment, So the second variable that is being influenced is said to be the dependent variable. The variable (caused by the coming funds) causing the influence is said to be the independent variable. Machine learning is not just about algorithms; it’s much more than that: deduction, reasoning, problem-solving, natural language processing,


Being innovative by utilizing general intellect, advanced AI, or a logical approach using data science in financial technology could significantly enhance the business. Forecasts regarding the customer’s mobility patterns can help me make strategic decisions, such as identifying ripe investment opportunities, determining the optimal timing and amount of investment, and projecting the outcomes of my investments.

For instance, what is the appropriate amount of money I ought to invest in marketing to generate a particular amount of revenue? Please note that this is not simple mathematics or just a simple output of y = ax + b, where every value of x will have an impact on the output as y. Frequency and graphs can certainly help.

In practice, we often use an advanced form of predictive modeling, either with nominal data, discrete data, or continuous data. Each observation must be labeled with the correct value and significance. Banks, MNOs, mobile money service providers, and fintech companies are using customer data for personalized experiences. Increasingly, companies are mining data to inform their customer outreach, but the challenge with data mining is ensuring the outcomes offer value to the consumer.

Advancement In Digital Payment With AI

AI development is taking varied paths, and could potentially present diverse security risks, or even an undisclosed danger to present-day society. The optimal path to take can be determined by examining the progress of forthcoming technological advancements, particularly in the fields of fintech, banking, and payment. The domain of Artificial Intelligence, encompassing machine learning, deep learning, and neural networks, is accompanied by a distinct threat intelligence that is poised to have a prominent impact.


Coupled with an evaluation of the driving factors and key capabilities required by convergent systems and requirements. There’s no single answer to this without end-to-end architectural analysis. The AI and blockchain combination is explosive! Blockchain technologies can help realize some long-standing dreams of AI and data analysis work and open up several opportunities.

My goal is to introduce you to the most flexible and useful libraries of machine learning or deep learning under the Data Science umbrella, the techniques that can bring value to the real world out of the fancy and gloomy world of AI, as most of it looks impractical in the real world (for now, details on this are not within the scope of this post). I will skip the theory of mathematics, statistics, programming, or tutorials for now, but we’ll still recommend great resources for learning those.

Only then can you build a predictive model because you must tell the algorithm what’s “correct” while training it for future or real-world problems. Let me give some refresher to you from your school days about a few useful terms like “regression,” which solves your task for modeling continuous target variables; “classification,” for modeling categorical, i.e., “class” target variables; and “clustering,” which is the most common unsupervised learning task, and it’s for finding groups within your data.

Food For Thoughts

One of the key difficulties to overcome in dealing with data is managing the many tasks involved, from collecting and storing information to analyzing and curating it, as well as searching for and sharing data, transferring it between different systems, visualizing the results, querying the data to extract valuable insights, updating it as needed, and maintaining rigorous information privacy standards.

Occasionally, it may be necessary to take a hiatus from consuming Java and schedule a meeting with the programming languages of Python and R. There is a wide range of possibilities for convergent billing and digital money storage in operation support systems, which are not restricted to any particular standard. These systems utilize bits and bytes to manage transactions and achieve seamless convergence.

In order to improve your business website’s search engine optimization, it is important to remain connected to well-known social media platforms. This can attract specific and valuable traffic to your site. The utilization of cognitive computing, also known as artificial intelligence, will significantly increase its prominence in various areas.


Conclusion – AI is changing the world around us, making its way into financial businesses, health care, science, and many other fields. Companies should manage their data as carefully as they manage their money. It’s feeding time for fintechs. It’s time to stop, collaborate, and listen. Let your friend AI collect the reality, then the hype. As with any task that is repeated in nature, a machine can perform it faster, better, and cheaper; that’s all about machine learning or a good definition of machine learning.

Fabonacci numbers are very easy for machines to learn and predict, but it’s not always that simple. In the data world, big data is not just the amount of data that’s important; it’s also how to use this large amount of data to generate insights. Big data describes the large volume of data, both structured and unstructured. Various tools, techniques, and resources are employed to make sense of this data and derive effective business strategies. AI has taken some steps into banking, but it is also poised to revolutionize how banks learn from and interact with customers.

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Posted by V Sharma

A Technology Specialist boasting 22+ years of exposure to Fintech, Insuretech, and Investtech with proficiency in Data Science, Advanced Analytics, AI (Machine Learning, Neural Networks, Deep Learning), and Blockchain (Trust Assessment, Tokenization, Digital Assets). Demonstrated effectiveness in Mobile Financial Services (Cross Border Remittances, Mobile Money, Mobile Banking, Payments), IT Service Management, Software Engineering, and Mobile Telecom (Mobile Data, Billing, Prepaid Charging Services). Proven success in launching start-ups and new business units - domestically and internationally - with hands-on exposure to engineering and business strategy. "A fervent Physics enthusiast with a self-proclaimed avocation for photography" in my spare time.


  1. Innovation Economy at

    Simply awsome post ….. this need to be convreted to book ….. I willl sell it


  2. […] series first part was Artificial Intelligence for Digital Payments Security and second part was Data Science of Payments. Main objective is depict how Machine learning can and has already extended into so many aspects […]


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