• Home
  • Events
  • Webinars
  • White Papers
  • Blog
  • About
Go to...
    LendIt News – Daily Fintech Industry News LendIt News – Daily Fintech Industry News


    • All News
    • USA
    • Europe
    • LatAm
    • China
    • Lend Academy
    Go to...
      Home»China » AI Becoming Core Component of Financial Services

      AI Becoming Core Component of Financial Services

      July 2, 2020
      China, Europe, Fintech, USA
      Views : 398
      0

      According to a 2019 study by Forrester about half of financial services and insurance firms around the world are already using AI; “We are only scratching the surface of the potential that AI has for the industry,” says Katherine Wetmur, Morgan Stanley’s international Chief Information Officer, to the FT; AI is being used to automate menial tasks, fraud detection and even to help customers in an accident receive an insurance quote in minutes; the use cases across firms are increasing and chatbots are also becoming the norm which has helped firms handle larger call volumes during the pandemic; the technology is still in the early stages when it comes to voice, natural language processing is becoming more sophisticated but most tasks performed now are simple; “We are not at the level yet where machines have the equivalent intelligence of humans,” says Chris Skinner, a financial services consultant and author, to the FT. “But AI is getting more and more advanced every day.”; the impact on jobs to date has been positive, but the better the tech becomes the more likely job losses will follow. Financial Times.

      Tags : artificial intelligence, chatbots, fraud detection, insurance, Morgan Stanley
      Share :
      • Facebook
      • Twitter
      • Linkedin
      • Email
      Next article
      New Challenger Bank Point Has Closed a $10.5 Million Series A
      Previous article
      Banks Can Find Huge Opportunity in SMB Accounting & Payments

      Leave a reply

      Click here to cancel reply.