“Change is always scary. Predictive analysis and artificial intelligence are rapidly reshaping the banking industry in ways that were never thought possible in previous generations. Those who decide to proceed through a digital transformation process will get to experience numerous benefits for taking that risk.
List of the Benefits from Predictive Analytics and AI
1. It improves the firm’s risk management profile.
2. Improvements to fraud detection and prevention occur.
3. It helps banks to understand their customers better.
4. New customer acquisition activities become more productive.”
“A team of researchers from Princeton, Stanford, Rice and Southern Methodist universities devised a system that uses powerful lasers similar to a laser pointer. The beam is bounced off a visible wall and onto a hidden object behind a corner. The beam then bounces off the object and back onto the wall.
This creates an interference pattern on the wall called a speckle pattern. The image of the hidden object is encoded in this pattern, and the researchers turned to a deep learning algorithm to perform the complex computations required to reconstruct it in real time.
The researchers were able to successfully read numbers and letters not visible via a direct line of sight.”
“Economists appear to have reached a general consensus that artificial intelligence is among the four great “general purpose technologies” to come along since the 1800s. Gill argues that AI, like steam power, electricity, and information systems technology, will directly impact the way business is conducted at the global scale by 2030.”
“Alphabet and Google CEO, Sundar Pichai, is the latest tech giant kingpin to make a public call for AI to be regulated while simultaneously encouraging lawmakers towards a dilute enabling framework that does not put any hard limits on what can be done with AI technologies.
Google chief claiming: ‘AI has the potential to improve billions of lives, and the biggest risk may be failing to do so'”