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Artificial Intelligence solutions in Fintech

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Title: Artificial Intelligence solutions in Fintech


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What is Artificial Intelligence? Artificial
intelligence (AI) is an area of computer science
that, through the creation of intelligent
machines to work and react as a human would.
Computers with artificial intelligence are
designed for activities such as voice
recognition, automated responding bots and smart
personal assistants, such as Siri and Cortana.
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Advantages of Artificial Intelligence
  • The chances of error are almost none with
    greater precision and accuracy.
  • Machines do not require breaks, they can
    continuously perform efficiently without getting
    bored.
  • Artificial Intelligence helps computers replace
    humans in repetitive, tedious tasks and laborious
    places of work.
  • AI can predict what a user will type, ask,
    search, and do, assisting them with faster
    results.
  • It can detect fraud and malware in card-based
    systems, and possibly other systems in the future.

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What is Digital Transformation? Digital
transformation is the process of rethinking ones
business model adapting to fast changing digital
technology to solve problems often utilising
cloud computing, reducing reliance on user owned
hardware but increasing subscription based cloud
services. It requires coordination across the
entire organization, since it applies new
technologies to fundamentally change the way
business is done.
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Advantages of Digital Transformation
  • It helps in optimizing business technology and
    operations around digital technology helps reduce
    cost-per-transaction savings and increases sales.
  • Digitalization gives companies the ability to
    combine data from all customer interactions and
    formerly unstructured sources into a useful,
    actionable format to optimize customer
    experiences.
  •  Due to the new customer-centric focus, an
    enterprise can stay better prepared than before
    to adapt to their customers in the competitive
    industry.

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What is IOT (Internet of Things) ? The Internet
of things is the extension of Internet
connectivity into physical devices and everyday
objects. Embedded with electronics, Internet
connectivity, and other forms of hardware, these
devices can communicate and interact with others
over the Internet, and they can be remotely
monitored and controlled. The IoT has made an
interconnection of devices possible.
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Advantages of IOT (Internet of Things)
  • IoT creates a decentralized pattern of
    communication between devices for easier
    functioning of the whole.
  •  As the devices of IoT interact and communicate
    with each other they do a lot of tasks for us, to
    minimize the human effort.
  • Internet of things is enabling using various
    interconnected devices from their phones. Like
    Amazons Alexa or Apples 'Siri'
  • IoT improves safety and security as all the
    devices are interconnected to hack into and
    immediately linking your account to your
    phone/other digital accounts.

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