Effective for Global Trends
AITransaction.net is for sale!
– Keywords : Artificial intelligence Transaction –
Transaction banking is an area that provides a perfect number of conditions for AI to flourish. It is characterised by a large number of processes, supporting large number of customer interactions with the bank for day to day banking, generating large volumes of data; and that potentially makes transaction banking the perfect playground for AI.
AI is already being applied to a wide range of business activities, from farming shrimps and brewing beer through to building self-driving cars and optimising oil and gas production. The financial services sector is a pioneer in the adoption of AI, applying the technologies in multiple areas, from fraud detection and conduct surveillance through to stock picking. Chatbots are used to complement banks’ customer service offerings and there is huge potential for AI to be adopted widely within transaction banking in the future.