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AI marketing tools in financial services and banking

Financial sectors and banking sectors are so far the sectors that has seen wide range of innovations that led to the usage of the automated technologies like AI. Industry marketing teams have long been leading in the race of using AI that leads in the benefit also in savings of resources, cost along with time. It’s not so recent times that the AI marketing tools have been around but from little long while. But we are seeing the real change in recent days in financial sectors and banking. The other industries like wealth management and insurance are now trying to adapt the automated processes/ tools. The chatbots can be taken as a perfect example, they analyse the online activities of the user and the analysis is viewed by the business side and the improvements are made accordingly.

            The clients that are adapting the new technologies major consideration for various sectors to move towards automation. But if we take a look at the other side there are some industries that are less tech focused, and are not too much bothered about automating the processes. But they appreciate the businesses for managing the business ups and downs even in this pandemic situation. Not all the AI tools are number one on their to-do list but are carrying out their jobs pretty well. AI can sometimes be scary and complex also not forgetting about the cost it takes which is expensive. But not in all the aspects; it can get profits when used properly.

            The huge benefit of AI is that the accuracy and the data insight it gives. Understanding the user journey is a tough aspect but manual studies cannot yield accurate results but the automated tool will. AI or automation will help in increasing the productivity and brings profit to business and makes life much easier.

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Finance

Euro zone ministers expect inflation to slow in 2022

The acceleration of euro zone inflation, driven energy prices, is mostly temporary. Then the price growth will slow down again. The euro zone finance ministers agreed that, that too the next year as forecasted by the European Central Bank and the European Commission.

Paschal Donohoe, chaired the talks of the ministers in Luxembourg. In a news conference he said that there was also agreement that the inflation spike was not an argument against the transition to renewable sources of energy. This is under the EU’s ambitious plan of reducing CO2 emissions to zero by the year 2050.

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Finance

Under new rules, borrowing for investment sensible

British finance minister Rishi Sunak said that the government borrowing to fund investment was a sensible thing. This is to allow under new fiscal rules that he is likely to announce, unlike borrowing for day-to-day spending. He said that borrowing for capital investment that is going to drive up their growth is probably a sensible thing for them. And that too particularly in an environment of slightly lower interest rate. Sunak stated this in an event on the sidelines of the annual conference of Britain’s ruling Conservative Party. This event was organized by the Taxpayers’ Alliance advocacy group. Sunak stated in that event, that borrowing for more day-to-day spending is probably less something that you would want to have as part of your framework.

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Finance

IMF board to interview Georgieva-sources

The International Monetary Fund’s executive board is going to interview Managing Director Kristalina Georgieva. This is regarding that; its reviews claims that she pressured World Bank staff to alter data to favor China in her previous role. Board members were initially expected to meet with Georgieva. But spent their time working on other regular business matters.

The board members spent hours for questioning lawyers from the WilmerHale firm. This is about their World Bank investigation report which alleged that Georgieva, as the bank‘s CEO applied undue pressure on staff, to alter data in the flagship “Doing Business” report to benefit China. Then, an IMF spokesperson said that the IMF board remains committed to a thorough, objective, and timely review of the matter. Georgieva has strongly denied the accusations.

The upcoming interviews could prove pivotal in either increasing support for Georgieva. This is with many IMF shareholders are keen to wrap up the board’s deliberations on the matter. The fund’s most influential member governments, including the top shareholder the United States, have withheld public judgment. The World Bank tasked WilmerHale with investigating the “Doing Business” data irregularities identified in 2020. The law firm’s report contends Georgieva. The former World Bank President Jim Yong Kim’s office pressured staff to manipulate data so that the China’s global ranking in the “Doing Business 2018” study of investment climates rose to 78th from 85th.

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