How is AI helping the Finance Industry?

The Healthcare Information and Management Systems Society (HIMSS). Is a global leader and advisory organization, HIMSS has successfully incorporated information and technology to consistently improvise healthcare. By association with HIMSS, various avenues of healthcare and leadership have engaged in building a like-minded community. The HIMSS community spans of over 70,000 members, 600 corporates and 450 organizations.

Association and participation with the HIMSS community and attendance of their conferences held are good places to watch the display of digital innovations that are aimed at raising the quality of healthcare. It is an exclusive opportunity to gain access to the expertise of various specialists in the healthcare and information technology sectors. The insight gained through the various arrangements of the conference can be used towards leveraging of assets, operational excellence and clinical studies.

This structure is then further enhanced with the use of key innovations and technologies that are used to automate and expedite healthcare functions.

Here are 7 Smart Lessons you should learn before attending HIMSS Conference.

Artificial Intelligence and the Financial Industry have converged to a point where all the benefits of the superior AI are bring reaped by the multi-million Financal Industry. We have reached the modern era and are witnessing the remarkable resurgence of Artificial Intelligence.

Analysts have estimated that Artificial Intelligence -- by the year 2030, will save the Banking Industry a staggering 1 Trillion Dollars, all thanks to the spectacular combination of several demand and supply factors. The ever-changing Finance Industry requires accurate algorithms in order to pave way for the development and growth in Finance.

Presense of sophisticated algorithms, computing abilities, the availability of data and modern infrastructure, and the high potential for revenue gains and cost reduction are a driving factors to see the face of success here. With the introduction of AI in Finance the viewpoint for the potential of growth has extended by a large margin.

To take a detailed look at AI in the domains of banking, financial planning, regulatory intelligence and such, here is an article for AI in Finance which you may like.

Technological advancement in Artificial Intelligence, a rather complex but seamlessly interesting domain – has proved to be a rising factor among a number of industries, and Finance is one of them. AI started taking over the the Finance industry in the form of waves which only grew larger to turn into tides, the AI Technology used now a days includes providing value-based business strategies, improving customer experiences, increasing revenue generation reduction of costs.

AI has gained a strong foothold in an organizations journey of achieving business success. The top-level management is now viewing AI as a tool to assess business areas and to achieve substantial benefit through its advanced analytics and using it’s powers to achieve the desired business outcomes.

Take a detailed look at how the use of AI in Finance can help turn traditional businesses into a stand out enterprise.

The Finance Industry is where the money is at. And the place where the money is at, there's bound to be risks and threats of losing that money along the way, be it Accounting or Lending even.

One way of securing the Finance Industry of fraud and threats is the implementation of AI in order to provide the required amount of security in a financial domain a number of strict protocols have to be followed. The progress in Artificial Intelligence in recent times has excelled to such an extent that a number of AI-based machine learning applications have been developed at near perfection to sort out the various issues faced in the Financial Services domain, these applications range from sentiment analysis, fraud detection, credit scoring, trading signals, risk management models, capital optimization trading portfolio management to regulatory compliance.

One of the main reasons that AI in Financial Security has gained a huge traction is because of its potential to go above and beyond the capabilities humans are capable of. AI is embedded into the financial services through the use of advanced algorithms and deep learning since this field is very volatile and any error or poor handling can send the whole industry crashing down.

To take a deeper look into the problems and its respective solutions, check out our article on How AI is Impacting Accounting, Lending & Security in Finance Industry.

While under the influence of AI-driven applications, the Finance Industry is said to have been undergoing one of its most substantial transformation phase to-date.

Artificial intelligence has elucidated everyone of its presence in this industry and has established a strong foothold by flexing its distinct capabilities of mimicing the human mind through the use of complex algorithms.

The use of AI in the fields of Customer Service, Hedge Funds, Sales and Financial Products is paving its path for a full blown revolution in how Financial tasks are handled by the human minds. The conventional computing architectures are daily pushed to their limit since the introduction of AI-Driven Financial Solutions.

A classic example of AI used for Financial sector is the Customer Service where the requirement is 24/7 on the clock. Traditionally this sector consisted of dedicated human support to withstand the increasing demand in the finance business. The situation of Financial institutions since the past few years have been nothing but improving, and by that we can clearly see the need of digitization.

You can take a look yourself, at How AI redefined the Financial Industry.