The value of AI to all retailers great and small

“Online, in store, in the warehouse, the opportunities to leverage AI and machine learning (ML) to improve retail operations are compelling – no wonder research predicts that retailers will spend $15.3 billion on AI by 2025, $8 billion more than initially forecasted by the end of 2022. However, before AI can be truly effective in the sector, the challenges of data quality and quantity must first be addressed.”

The value of AI to all retailers great and small

Huntington Bank’s new AI-driven tool plugs a savings gap

  • “Huntington Bank launched an automated savings feature, per American Banker, augmenting its digital banking rethink from several years ago centered around budgeting, cash flow analysis, and goal setting.
  • Huntington’s sweep feature maxes out at $150/week, which adds up to nearly $8,000/year.”

https://www.businessinsider.com/huntington-bank-ai-savings-tool-could-have-real-impact-2020-9

ARTIFICIAL INTELLIGENCE SOLUTIONS FOR BANKING

Churn prediction

“Because of accurate AI algorithms, churn probability predictions improve customer retention. This is crucial as customers frequently stir without obvious warning signs. Therefore, it is challenging to run mainly targeted anti-churn campaigns. On the other side, retention activities can be costly, sometimes much more so than the value a potential customer may bring.”

Artificial Intelligence Solutions for Banking