Balazs Kovacs
Chief Architect
Shaping the future of finance – Part IV: AI and Machine Learning
an explanation for non-technical mortals
05 September, 2019
The future-shaping power of new technologies
In this series of articles, we focus on four key technologies that are changing the face of the financial industry today.
1. The tech behind Open Banking and PSD2
2. Microservices and Containerization
3. Big Data
4. Artificial Intelligence and Machine Learning
There is no denying that the future in financial services will belong to those who understand the tech behind it. This guide will help you to make sure you have a crystal clear picture. In this last article, we will look at how AI and Machine Learning are helping you innovate in the financial sector.
4. Artificial Intelligence and Machine Learning
Like in all areas of life — fintech being no exception — both end-users and service providers show an ever-increasing need to have “intelligent” solutions to practical problems, like how to deal with fraud or mitigate risks of becoming complicit in money-laundering. Intelligence, whether artificial or not, leads to higher efficiency and lower costs, better customer experiences, high levels of compliance and security, and the ability to solve problems quickly.
Most often such problems would be relatively simple for a truly intelligent human to solve, but they pose a much bigger challenge for programs and programmers alike.
