Artificial Intelligence has taken the world of banking and investment services by storm. The suite of tools available in AI is creating products that reduce the time and increase the efficiency of organizations by their varied applications. Machine learning, deep neural networks, natural language processing are amongst the few of the tools that are part of the AI-toolkit. Accordingly to Gartner’s CIO Survey, banking and investment services are more aggressive than other industries in investing in machine learning and virtual customer assistants.
Highlighting this, we recently published our ‘Cool Vendors in AI for Banking and Investment Services.’ We showcase the potential of these four vendors and how they will disrupt an industry which is applying these solutions for all the value chains including front, middle, and back-office.
These are our four Cool Vendors in AI for Banking and Investment Services, 2017:
• Cape Analytics’ geospatial imagery is improving credit risk assessment by reducing the time and increasing efficiency.
• Hyper Anna’s virtual agent is automating analytics processes.
• Kensho’s search functions are helping get relevant results from different sources for trading activities in a shorter time with greater precision.
• Voyager Labs’s credit rating platform provides real-time risk assessment from a wide range of unstructured data.
These companies and many of their peers are emerging who are working on solutions that have wide ranging applications and solutions in this industry. With the decreasing cost of computing power, the wide availability of data and sophisticated algorithms, the popularity is not going to decrease anytime soon.