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Artificial Intelligence Applications In Financial Services

We highlight a number of specific applications, including risk management, alpha generation and stewardship in asset management, chatbots and virtual assistants, underwriting, relationship manager augmentation, fraud detection, and algorithmic trading.

In November 2016, for instance, a British insurer abandoned a plan to assess first-time car owners’ propensity to drive safely – and use the results to set the level of their insurance premiums – by using social media posts to analyse their personality traits.  The social media service company in question said that the initiative breached its privacy policy, according to which data should not be used to “make decisions about eligibility, including whether to approve or reject an application or how much interest to charge on a loan.” These

For example, the General Data Protection Regulation (GDPR) gives EU citizens the right of information and access, the right of rectification, the right of portability, the right to be forgotten, the right to restrict the processing of their data, and the right to restriction of profiling .

Perficient to Discuss Real-World AI Applications for the Financial Services Industry at AI Summit New York

Enterprises are increasingly turning to artificial intelligence (AI) as a key component in their digital transformation strategies to achieve competitive advantage, drive meaningful customer experiences, and increase efficiencies.

Creating a roadmap grounded in smaller yet still meaningful projects allows companies to gain traction and build organizational confidence to move towards bigger goals.”

Seeking to infuse automation and AI into its back-office operations, Perficient leveraged multiple automation components including AI, robotic process automation, and digital process automation to incorporate visual recognition technology within their loan processing system.

In addition to providing a scalable use case for future deployments, the strategic implementation reduced manual effort required for processing loans by 82 percent, resulting in meaningful cost savings.

will serve as a silver sponsor and its subject matter experts will be available in booth 454 to discuss how the digital consultancy has helped clients across industries leverage AI to achieve competitive advantage.

Its award-winning practice helps clients understand the value of enterprise AI, identify use cases, create a roadmap, assist with vendor recommendations, and deploy minimum viable products and pilots for successful implementation and adoption.

With unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions.

of the statements contained in this news release that are not purely historical statements discuss future expectations or state other forward-looking information related to financial results and business outlook for 2019.

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Dec 10, 2019 (Heraldkeepers) -- Market Highlights The rate of changes in the industrial technology is largely driven by the inception of artificial intelligence.

Artificial intelligence is not considered as a single entity but an amalgamation of a different set of technologies and building blocks that create the base for various industrial solutions.

The growing amount of data sets requiring to analyze, complex data for with integration of artificial intelligence for better efficiency.

One of the major factors contributing to the growth of this market is the growing demand for artificial intelligence based solutions and platforms.

Additionally, the growing amount of data sets required to analyze, complex data for with integration of artificial intelligence for better efficiency is driving the market.

Among all the regions, the market is dominated by North America due to the higher adoption rate of technology and a rich concentration of vendors providing services and solutions for Enterprise Artificial Intelligence for different applications.

Europe is a technologically advanced region, and the factor contributing to the growth of this market is the increased application of artificial intelligence in predictive maintenance, supply chain monitoring, and automotive.

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