• Latest
  • Trending
Agility through Artificial Intelligence

Agility through Artificial Intelligence

US FAA shifts gears on certifying future flying taxi pilots

US FAA shifts gears on certifying future flying taxi pilots

Ford sells shares in EV maker Rivian for $214 MLN

Ford sells shares in EV maker Rivian for $214 MLN

Fed’s Waller says now is the time to hit it on raising rates

Fed’s Waller says now is the time to hit it on raising rates

All the best is yet to come in Singapore: Blockchain Fest 2022

All the best is yet to come in Singapore: Blockchain Fest 2022

Swiss companies are not hoarding cash

Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules

US removes Xiaomi from blacklist, reversing late China Jab by Trump

Xiaomi accuses Indian agency of physical violence threats

AIG profit beats estimates on strong underwriting gains

AIG profit beats estimates on strong underwriting gains

Meta to start testing money making tools

Meta opens access to AI large language model

Now You Can Trade Multiple Assets with Fullerton Markets

Now You Can Trade Multiple Assets with Fullerton Markets

Airbnb bets on summer of travel to drive revenue growth

Airbnb bets on summer of travel to drive revenue growth

Lifting the veil of Blockchain Fest 2022 – Cyprus

Lifting the veil of Blockchain Fest 2022 – Cyprus

Intesa CEO says committed to 2022-2025 plan’s goals

Intesa CEO says committed to 2022-2025 plan’s goals

Global Business Review Magazine
Tuesday, May 17, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

Agility through Artificial Intelligence

Agility through Artificial Intelligence

Artificial intelligence is becoming a key business driver for all the financial service providers and their organizations. From being a new gained curiosity to becoming an essential part of the life of finances, AI has come a long way. In the past few years, financial institutions (FIs) began to think about AI being beyond the abstract and discovered many practical yet profitable use cases for the emerging tech. With the growing number in financial institutions there is a greater understanding for the importance of using AI in enhancing not just the customers’ but also the employers’ experience.  FIs are becoming more used to the idea of adopting these technologies as the AI becomes clearer and valuable as use cases emerge and it is helping across a wide range of key business functions. And in the year 2021 there is a high scope for the financial institutions to evolve beyond agility and embrace intelligence by incorporating these cognitive techs into their operations. The time after the FI completely make use of the AIs in capturing deeper customer insights, make informed and data driven decisions, manage risk and increase efficiencies, they will transform themselves into Intelligent Enterprises and bring more value to their customers and teams.

Agile enterprise acts as an essential foundation when discussing any form of the intelligent enterprise as it should be enabled first. Without having a strong foundation to support the countless back office processes it will be very difficult for an institution to make the effective and efficient leap into the Artificial intelligence. Back off processes includes customer relationship management (CRM), document management, collateral analysis, covenant tracking, loan origination, portfolio analysis, regulatory compliance, customer service, the digital channel and on and on. Through achieving agility an institution can begin its journey toward becoming an intelligent Enterprise.

YOU MAY ALSO LIKE

Meta opens access to AI large language model

Musk tweets cryptic phrase days

Techs related to AI, including machine learning, natural language processing and cognitive computing, all these serve as the foundation of the Intelligent Enterprise. There is a huge wave of current and potential use cases with the FIs for AI and other related techs which range from robo-advice and next-product recommendations to anti-money laundering (AML) compliance and credit card fraud protection. Cognitive technology can be utilized to bring a true return on investment to the institution. Having a successful deployment of the Intelligent Enterprise helps tackle many issues from varying degrees, as it depends on the specific usages like increasing revenue, growing profitability, improving efficiency, reducing costs and mitigating risk. And implementing cognitive techs into core banking can deliver optimized results over time with a positive ROI. While maintain the human touch with customers, the aim is to focus on seamlessly incorporate cognitive tech into the existing processes. That is to build AI solutions and engage the employees to put the customers first. This can be achieved by deploying a single platform, a system of engagement that integrates and analyses data from the customer channels across the organization. The Intelligent Enterprise really begin to take flight when every employee has the same holistic platform with access to the same information.

Together AI and Cognitive techs are improving banking platforms for us by enabling the FIs to increase revenue, gain operational efficiencies and meet the customer expectations. With AI around the FIs need not have to do manual work again and at the same time can offer its employees an opportunity to do more with the technology and save time and 2021 is all about adopting new AI tools and reformations.

Tags: AgileArtificial IntelligenceTechnology
ShareTweetShare
Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • US FAA shifts gears on certifying future flying taxi pilots
  • Ford sells shares in EV maker Rivian for $214 MLN
  • Fed’s Waller says now is the time to hit it on raising rates
  • All the best is yet to come in Singapore: Blockchain Fest 2022
  • Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version