Most Effective Applications of AI in Fintech
Artificial intelligence revolutionizes the financial technology industry, enhances efficiency and accuracy, and improves customer experience in the respective financial services. The transformation affects traditional financial institutions, which can provide innovative solutions, streamline processes, enable proper decision-making, and offer personalized services. The following paper looks at the most effective artificial intelligence applications appropriate in the financial technology domain, and the subject of discussion shall be the financial statement analyzer.
1. Fraud Detection and Prevention
Financial institutions are primarily wary of fraud because, with technological advances, fraud-related activities only get sophisticated. With its powerful capacity to go through volumi...