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8/20/2019 IMPACT OF ARTIFICIAL INTELLIGENCE IN BANKING - venkat k - Medium 1/3 IMPACT OF ARTIFICIAL INTELLIGENCE IN BANKING venkat k Aug 20 · 3 min read The accomplishments of the 21st century is incomplete without mentioning about Artificial Intelligence technology which has mainly played a role as a major source of success. Artificial Intelligence not just making things easier but also authorizes them with human-like understanding and sensing. AI characterizes human intelligence becoming an active and influential way of developing brilliant robots who thinks similar as humans. After all industries following this technology banking and finance are also moved by AI solution from years. Introduced with expert algorithm AI machines consists of technologies like self-learning speech recognition reasoning error detection and many more. The result is developed productively cost reduction optimization of maintenance estimated analysis and generous accuracy while doing banking operations.

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8/20/2019 IMPACT OF ARTIFICIAL INTELLIGENCE IN BANKING - venkat k - Medium 2/3 Banking needs perfection and there must be absolutely no errors to be identified this is why AI has been implemented in the banking sector over the past years to make banking accurate and get the work done. Automation has cleared many regular problems in banking like difficulties in multiple ledgers systems and subsystems. Before AI was introduced into the banking sector many companies reached to banking experts for information on how they can improve their profits as well as reduce their taxes. This was not a good situation every time for both parties as most of advises given by the experts are not always right. But after the introduction of AI services in Banking It gave needful information and full reports facts and references which benefits the user and the bank both. Banking is always being effected by the fake and fraud. It is always effected by cyber attracts and artificial intelligence is used to detect if there is any attacks on the banks. This has taken the banking sector a step forward all over the world. It also detects the fraud even in credit or debit cards. It is challenging for anti-money laundering AML to be detect and identified but intelligent AI-driven solutions based on data contexts and networks serve as a concrete solution to this problem Artificial intelligence improves the financial sector when it comes to providing the further benefits and security to the individual users. Ai develops the smart chat-bot which allows users and reduces the call centers. Banks are dedicated to make modified portfolio profiles for the individual clients based on their investment limits patterns and their preferences. AI helps automate the process of building accurate and deeply evaluated customer portfolio that resembles the same capacity as human professionals. One of the biggest advantages of involving artificial intelligence in banking is to experience major drop in the required manpower.

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8/20/2019 IMPACT OF ARTIFICIAL INTELLIGENCE IN BANKING - venkat k - Medium 3/3 C o n c l u s i o n The banking sector is major platform that needs be best and accurate at all time just a simple mistake can make the bank fall. So artificial intelligence is introduced in banking to improve the working and security. Articial Intelligence Machine Learning Ai Solution Ai Services Ml Solutions About Help Legal

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