“Fintechs are creating more intuitive and personalised interactions between customers and their finances using recommendation engines, conversational AI, and deep learning fraud detection models. NerdWallet, a fintech focused on personal finance, uses machine learning in its recommendation engine to match its customers with the best-fit financial products, such as mortgages and insurance. Square, a financial…
Month: July 2021
Execs from MasterCard, PayPal, and Goldman Sachs discuss major AI trends in the finance industry at Transform 2021
“‘AI and machine learning is being used in a broader array of applications than ever before, including security, fraud detection, identity, personalization, and even internal efficiency applications,’ the last-mile challenge in adopting AI: a prediction that doesn’t lead to action doesn’t do a company any good. How can a company go from the machine learning…
AI has become a design problem
“Human-centered design has a vital role across three key areas: Design thinking can help companies map their systems to understand how and where AI fits. Design is needed to devise better tools to create, monitor, and manage AI. And design must create new interfaces centered around the kind of information that AI delivers users. Design…
A quarter of Taiwanese companies are well into their AI journey
“A little less than 25% of respondents have either entered, or moved past, the level 4 stage of the Enterprise AI Maturity Cycle — the phase where AI is being operationalized in the organization, with deployments showing business value. Most Taiwanese companies — at over 83 percent of those surveyed overall — have begun the…
Achieving Return on AI Projects
“The Spanish telecommunications company Telefonica O2, for example, adopted RPA several years ago for back-office administrative tasks and got ROIs of between 650% and 800%. These six strategies can help guide the data science team toward a greater chance of success in these cross-unit projects. Focus on partnerships with AI-friendly business units. Select projects with…