by Cassie Warrington June 1, 2018 8:02 am0 The communication process between financial service employees and customers can be easy with the help of online chat and phone. According to a study conducted by Zendeck, 42% of B2C customers showed more interest in making a purchase after receiving good customer service.

However, the same study also revealed that 52% of them stopped purchasing from the company due to a single disappointed experience in customer service. While we cannot exclude the chances of human error, specialists can help customers solve main issues of the products or services while AI provides the technological solution to customer-support interaction.

In the future, AI will be used as a tool to work with stock exchange and automate the entire process. This way, AI can make accurate predictions for tomorrow’s prices and perform a thorough analysis of the financial market.

As a result, investors will find more opportunities to invest in financial products that work with AI – and ultimately bring in more profit. As the FinTech industry continues to embrace big data, there are two main drivers behind this: accessible data and increased computational power.

Reports from the IDC FutureScape suggest, “Cognitive computing, machine learning, and artificial intelligence will become the fastest growing segments in new enterprise apps.” As for organizations faced with the rise in product liability and fraud losses, AI is progressively positioned as a key tech to help robotize instant fraud detection and maximize performance in the near future. In addition, overlooked factors that influence the effectiveness of access data will include: This will ensure that data meets the minimum benchmarks, especially with continuous digitalization, which will subject banks to new data assets. Read more from…

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