AI is today increasingly used as a wide term to describe machines that can mimic human functions such as learning and problem solving, but was originally founded on the premise that human intelligence can be precisely described, and machines made to simulate it. Technology and non technology companies are now investing and brining out the real and materialistic values of Artificial Intelligence to the real world.
Amalgamating the latest technology of artificial intelligence like predictive analytics and cognitive messaging to serve millions of customers is now a new winning strategy. AI and regulation are paving the way for Fintech. Artificial intelligence is a new factor of production and has the conceivable potential to introduce new sources of growth, reinventing the business in place, changing how work is done and reinforcing the role of people to drive growth in business.
With advancement in technology, artificial intelligence, organisations outside the banking industry diversified and demystified financial services by targeting small & succinct margins in the space. These were organisations servicing millions of customers through broad distribution channels, be they mobile operators, mobile handset manufactures, retailers or on-line merchants. Integrating AI applications, such as IBM Watson and N26 with Siri
This is where fintech companies are successfully leveraging AI. FinTech companies with help of AI are finding cheap, easy and swift methods to apply the technology to an existing business problem at the same time many banks are failing to do so.
Against escalating security threats on mobile payments, empowerment of merchants, acquirers, and service providers with new commerce opportunities and experiences in store and protection should