How are artificial intelligence applications transforming the banking and insurance sector?

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How are artificial intelligence applications
transforming the banking and insurance sector?
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Introduction

• Everyone in the technical realm is bragging about
  how artificial intelligence can change the use of
  technology, but very few of us are working for
  that.
• Many people believe that with artificial
  intelligence in banking, industries wont need
  human resources to operate.
• It can bring harm to employment, but that is not
  the case at all.

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• People who are working with the AI believe that
  with the introduction of AI and machine learning,
  most of the tasks will only simplify. 
• Simplification is a solution every business wants
  to ensure their survival in the dynamic market.

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Statistical Sampling Will Help Define The Pricing

• AI methodologies can help the banking and
  insurance companies to define their pricing
  structure according to their target audience.
• Many sensors and devices can record the
  activities of the customers and then contemplate
  what kind of plans they might need. For instance,
  think of a vehicle insurance company.

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Facial Recognition

• It is another application through which
  businesses can implement artificial intelligence
  in banking and insurance services.
• When businesses verify identity online, facial
  recognitions role is paramount. 
• The insurance industry was the first one to
  introduce it in their process.

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Decrease Fraudulent Activities

• Banking insurance sector in India is mostly
  concerned over any fraudulent claim.
• These are some of the many points that support
  the claim that online video KYC is the new future
  of banking and insurance verification.
• All this is possible because of the innovation in
  the field of AI over the years.

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Contact Details
About Signzy

• Signzy helps financial institutions transform
  current semi-manual processes into real-time
  digital systems, using Artificial Intelligence
  and Blockchain. This ensures that the new
  processes are user-friendly, yet secure and
  compliant.

Bangalore office BPL building, 11th KM, Arakere
Bannerghatta Rd, Bengaluru, Karnataka 560076
Mumbai office Rise 1902, 19th Floor, Peninsula
Business Park, Tower B, Lower Parel, Mumbai
400013
reachout_at_signzy.com
https//signzy.com/
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