In the financial sector “Data is the new oil,” was the premise of Clive Humby. One of the first data scientists in history, in 2006 when the great power. Of information was already being visualized. However, like black gold, which must be transformed into gasoline or another derivative to obtain profitability, data must be processed and analyzed to generate value. That was later the rationale of Michael Palmer, an expert in intelligent business, when he assured that “data is valuable, but if it is not refined, it cannot really be used.” And so it is, to boost commercial value in any segment, information must be understood as a competitive advantage. Artificial intelligence (AI) and big data: a powerful synergy for the financial sector.
With the application of artificial intelligence
In the financial industry, it is feasible to generate an impact in different areas. Data analysis and predictions: Financial institutions can predict market behaviors. Assess credit risks, and anticipate customer needs through AI’s ability to analyze large volumes of data in real time. Risk management: in the financial sector it is especially important to be alert to possible money flow events. Tools like voice recognition and biometrics, powered by AI. Aadd a layer of security that helps identify customers and prevent fraud. Customer service USA WhatsApp Number Data and personalization. With AI you can not only predict user behavior with the aim of putting their needs first and providing better service. But also provide 24-hour customer service with quick and accurate answers to common questions. Through the implementation of chatbots and virtual assistants.
Investments and trading: the financial
Market can be very volatile, therefore, it is necessary to make and rethink decisions based on its behavior. To do this, AI-based trading algorithms act as an army of financial analysts by quickly verifying data and creating investment measures in fractions of a second. According to a JP Morgan report , in 2020 more than 60% of trades over $10 million were executed using algorithms. By 2024, the algorithmic Afghanistan Whatsapp Number List trading market is expected to grow by USD 4 billion , bringing the total volume to USD 19 billion. Portfolio optimization: AI can help financial advisors make more informed decisions, as its application can analyze investment portfolios and recommend adjustments based on past performance and market trends.
