Data intelligence helps facilitate action. Whether we want to admit or not, artificial intelligence is rapidly becoming a part of our day-to-day lives as consumers are routinely inundated with personalized solutions that adapt and respond to available data. Across the financial industry there has been a shift towards greater data consumption and digital transformation, accelerated further by the global coronavirus pandemic. We live in a data-driven society where artificial intelligence is emerging in the form of operational tools to help manage and organize the vast amounts of available data.
This blog explains what artificial intelligence is, the idea of robotics, available data tools, and how these resources are impacting lenders across the financial industry.
What is artificial intelligence?
Artificial intelligence (AI) is the development and deployment of systems that are able to perform human tasks, such as decision-making, predicting outcomes, assessing efficiencies, and automating adaptions to complete a specified task. There’s a spectrum of currently available artificial intelligences that range from integration to automation to machine learning and cognitive processing.
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