Bespoke and Finance
Advancements over two to five years will revolutionize the industry.
Multi-Agent Systems will lead the way
Tools include NLP, text mining, and machine learning
AI systems can be used to sift through vast amounts of data rapidly to gather insights leading to improvements in customer service, trading strategies, and predicting risk.
In the near term
Financial institutions should expect automate their business processes and gain business intelligence from their data as integration process of their data takes place.
Bespoke & Finance
In the next two to five years, advancements in NLP, text mining, and machine learning might make it possible for financial institutions to fully utilize all the structured and unstructured data they collect. AI systems can be used to sift through vast amounts of data rapidly to gather insights leading to improvements in customer service, trading strategies, predicting risk etc.
In the near term, financial institutions should not expect to easily be able to automate their business processes or gain business intelligence from their data without embarking on a lengthy integration process starting with managing and organizing their data. This might additionally require discussions with vendor support representatives and a large upfront costs.
The largest enterprises may have the budget and staff to parse the technology, but based on our research, it is as of right now accessible to companies that would be able to afford AI applications.