Use of artificial intelligence technology in financial services to grow: report

Financial services firms are beginning to deploy artificial intelligence technologies to make themselves more efficient and better than their peers — and those without a strategy should develop one now, according to a new report. “It is the early days of AI in the financial services industry, but the technology is increasingly going to be more important to organizations to innovate and remain competitive,” said the report by tech firm Narrative Science. Nearly a third of financial firm executives said their business has adopted some early AI technologies, such as voice recognition and response, predictive analytics, and recommendation engines, which are tools to predict what a user may like among several given items. Firms are using it to boost customer engagement, improve productivity, accelerate fraud detection and minimize risk, and…


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