The financial services sector is witnessing massive disruptions driven by the evolution of technology and applied artificial intelligence. As a result, digital transformation will be marked by the effective collaboration between applied intelligence and human creativity.
According to our industry experts, this prediction is not about a distant future but has already begun taking shape across industries. The financial services industry is witnessing end-to-end transformation due to the implementation of applied intelligence based systems providing financial service providers the ability to differentiate themselves in the market within the next four to five years. Would you like to learn more about applied artificial intelligence? Contact an expert.
Applied Intelligence Vs. Artificial Intelligence: What’s the difference?
Applied intelligence acts as a binding force that comprises AI, Analytics, and Automation. It integrates human knowledge and intelligent machine learning capabilities across the organization bringing about a transformative impact on the workforce and the entire business environment.
On the other hand, artificial intelligence systems leverage intelligence to mimic human behavior and perform human-like activities aiding businesses to automate processes and save time.
What’s the difference? – When comoared to AI, applied intelligence is a smarter and a practical approach to accumulating, processing, and analyzing business data to generate insights that help identify growth opportunities and automate actions, unlocking real business value with minimal effort.
Applied artificial intelligence is driving breakthroughs in the financial services sector. If you operate in this sector, it’s crucial to capitalize on this opportunity to win the battle for direct ownership of the customer relationship. Request a free proposal to know how we can help you.
How Financial Service Providers Can Benefit From Applied Intelligence
Breakthroughs in applied AI, automation, and analytics are emerging every day in the banking and financial services industry, providing businesses new opportunities to make their services more personal and secure. Capitalizing on applied intelligence has helped several banking firms improve compliance, drive profitability, enhance customer experience, and automate processes to help different teams within the organization drive ROI from their efforts.
For up-to-date insights on how we help BFSI firms capitalize on data obtained from their knowledge information system, request more info.
With the rapid influx of data, the ability to generate insights from data is becoming more critical than ever. Thanks to applied intelligence, banks can now leverage their biggest asset, i.e., data, to generate insights and make real-time decisions. But not all banking firms possess the technical know-how and, as a result, struggle to unify data across their back-end systems and siloed databases. While a few financial services providers face these challensges the others struggle to generate insights obtained from the unified databases. The challenges are mostly due to the lack of expertise and technology to drive a personalized and unique experience for customers.
Therefore, financial organizations that find ways to make the most of their data by overcoming the obstacles facing their digital transformation initiatives will win the battle for primary ownership of the customer relationship- Applied AI makes it possible for all financial services providers.