“AI and machine learning are expected to leave a huge mark in the financial industry. Currently, credit card companies and banks have started using complex algorithms to detect and prevent fraudulent transactions.
Fintech startups backed by multinationals have assisted in pioneering some of these technologies. With it, they have improved customer experience and benefitted customer service.
Financial institutions use similar technologies to protect login credentials and mobile banking information. Apart from fraud detection, companies also use AI and machine learning for regulatory compliance and to gather information on consumer behavior.”
- “Innovation must be grounded in doing something new that will fulfill a need of the consumer in a way that either excites or delights them. That’s what builds word of mouth and keeps them coming back for more. Explore the metaverse through your customer’s lens and pull out not just what’s bright and shiny, but what’s making their lives better.”
- “Seventy percent of U.S. consumers want to use AI in their jobs, according to a new Gartner, Inc. survey.
- The majority would like AI to help with tasks such as mistake reduction (58%), problem-solving (57%), information discovery and process simplification (both 56%).”
“To help cut through the noise after a record-breaking 2021 in which data companies received tens of billions in venture capital investment — and an already strong 2022 — we’ve compiled the inaugural class of the Data50. These are the bellwether companies across the most exciting categories in data. In aggregate, these 50 companies are valued at more than $100B and have raised approximately $14.5B in total capital, with 20 having reached unicorn status by 2021.”