We’re in the midst of big data 2.0, a technology wave fueled by artificial intelligence, predictive analytics, and sensory tech or IoT making leaders of digitally transformed organizations across global markets. In the FinTech and greater financial services space, AI (done right) drives real-time analysis and cognitive intelligence, system-wide automation and operational efficiencies, cost savings, and improved client experiences. How can enterprises harness data to power their digital transformation? It’s all about anticipating future needs, and risk -- and AI does just that.
Managing uncertainty and minimizing the guesswork
Uncertainty and risk are ongoing challenges faced by enterprises across all verticals. In the financial space in particular, cryptocurrencies and political uncertainty are adding layers of complexity and unease to a perpetually volatile space. Harnessing data through the power of predictive and cognitive analytics brings a level of humanized foresight as well as the ability to scale intelligence to unprecedented levels that leverage the enormous amount of data that financial firms collect and process each and every day. Intelligent automation and AI detects issues before they arise and activates backup measures, mitigating risk and cybersecurity threats as well as managing outputs before escalating to hands-on “human” involvement. Think fraud detection and prevention services as well as early-prevention security.
Achieving workplace transformation
There are a few things you want to realize in your day-to-day business operations. Chief among them is bringing efficiency to your workforce. Today’s digital economy is centered around uberizing workforces and achieving peak optimization. Applied AI delivers on the promise of automation so that employees can work alongside machines to focus on their core competencies, enhancing output and scaling skills and talent. Consider the processing times and human error associated with financial transactions, tax preparation, and documentation. AI powers operational efficiencies and augments talent to address gaps and realize the full potential of your workforce.
Delivering a personalized, omnichannel client experience
The pressure has never been more acute for enterprises to deliver on unique, engaging client experiences that are tailored to each individual end user. AI is central to enabling successful CX that is both consistent and highly personalized, optimizing every moment and digital touch point for a totally seamless and frictionless customer ecosystem...and executing it at massive scale. Bank of America and Wells Fargo are just two examples of financial service providers that are integrating predictive banking to their customer experience, powering real-time personalized suggestions and financial advice promulgated through advanced AI. This is only the tip of the predictive FinTech iceberg.
Ready to learn more about AI and digital transformation? Let’s talk.