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Research focused on the artificial intelligence in banking market forecast to 2022

Research focused on the artificial intelligence in banking market forecast to 2022

Artificial intelligence (AI) has reached the stage where it is sufficiently advanced and affordable to warrant practical implementation in financial services. Banks are busy exploring ways in which they can harness the power of AI to streamline internal processes and improve the customer experience. This report will explore what AI applications are relevant in banking at this time, examine where AI is already making an impact, and offer recommendations on how banks should proceed.

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“The Future of Artificial Intelligence in Banking”, report examines the most significant uses of AI in retail banking, in both front-office and back-office implementations.

Artificial intelligence (AI) has reached the stage where it is sufficiently advanced and affordable to warrant practical implementation in financial services. Banks are busy exploring ways in which they can harness the power of AI to streamline internal processes and improve the customer experience.

This report will explore what AI applications are relevant in banking at this time, examine where AI is already making an impact, and offer recommendations on how banks should proceed.

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The report offers insight into –

– The particular manifestations of AI that have the most relevance for banking.

– How leading banks are already implanting AI-based solutions.

– The factors banks need to address when introducing AI applications.

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Scope

– AI encompasses a wide range of technologies, including robotic process automation, natural language processing, advanced data analytics, and image analytics. Use of these technologies will help banks improve both front-office and back-office processes.

– Customer-facing uses of AI include chatbots that improve communication between banks and their customers, advanced analytics that can offer proactive advice to consumers and take simple financial decisions on their behalf, and facial recognition that improves onboarding and makes it easier for consumers to log into their accounts.

– Back-office AI implementations include algorithms that can identify and block cases of fraud and money laundering, and analysis of non-traditional data to assess the creditworthiness of borrowers who lack standard credit records. 

Reasons for Getting this Report

This report provides pin-point analysis for changing competitive dynamics

It provides a forward looking perspective on different factors driving or restraining market growth

It provides a six-year forecast assessed on the basis of how the market is predicted to grow

It helps in understanding the key product segments and their future

It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors

It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

It provides distinctive graphics and exemplified analysis of major market segments

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