AI, Artificial Intelligence, is an intelligent programme that possesses the ability to learn from various data that it analyses. AI algorithms are often used for enhancement functions by uncovering links in massive data sets or within unstructured data. AI can be used to manage customer interactions by responding to customer questions or performing predictive maintenance.
Applications in Finance
With the emergence of big data, AI has become even more relevant. More and more data is generated each day while our ability to process it also increases.
In the banking sector, where data analysis is a vital process, this technology changes the business, affecting trading, risk assessment, credit, portfolio management and financial analysis. For banking institutions, these tools are a way of reducing their structuring costs while increasing trading efficiency, customer loyalty and various market baskets.
EXAMPLES: Optimisation of financial consulting services: through programmes that draw fast and easily applicable conclusions for advisors (what is the financial product best suited for my customer?) or chatbots that generate an automated classification of leads and thus save time for advisors who can instead focus on concerns with higher added value.
In asset management: With the arrival of robot advisors on the market, there are services that provide 100% online portfolio management with minimal human intervention and are thus less costly.