Financial Services Growing More Artificially Intelligent

Note from the CEO:  Let’s get philosophical here for a second. Is artificial intelligence really intelligence since it’s artificial? Is an artificial friend a real friend, or not? Is there a difference? Well, one BIG difference, firms are throwing $$$$ (not artificial) at AI technology. Oh, and can I be your artificial friend?

Financial service firms are embracing and using artificial intelligence technology to grow and expand. Still in the early days, this new technology is making firms more efficient and giving those firms that use AI an advantage over those that do not. AI technologies include voice recognition and response, predictive analytics, recommendation engines among many others (think Siri……the girl in your phone). Firms benefit, customers benefit and……………..well, everyone id artificially happy. Actually, a very good read.

“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.”

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