Ilan Hertz, Head of digital marketing at Sisense
In the early 1990's, the increasing popularity of automated teller machines (ATM's) revolutionised banking, lowering the number of tellers required for each branch and allowing thousands of new branches to be opened as a result.
Now, the banking industry is on the cusp of another technological revolution: big data and artificial intelligence are about to enhance nearly every aspect of banking, from improving the effectiveness of various marketing channels to helping consumers make more intelligent decisions about their spending and investments, preventing cybercrime, and more.
...but banks are always slow to embrace new technologies, right?
Hugh Owen, Senior Vice President Product Marketing at MicroStrategy
Every day, businesses are discovering new ways to tap into the power and potential of big data. Due to access to unprecedented amounts of information on business performance and consumer behaviour, companies are now able to refine their products and services in limitless ways.
The insurance industry provides a good example of data being leveraged to help make beneficial business decisions. Since this industry is based on risk, it’s a natural fit for business intelligence (BI) and analytics.
David Beach, Reporter, bobsguide
A study of Google Trends will show you a huge spike in the mentions of ‘InsurTech’ since February 2016, and that’s because people and investors are beginning to take note of how state-of-the-art AI can enhance the insurance sphere and disrupt specific elements of the insurance value chain.
Indeed, according to PwC’s 2017 Global InsurTech Report, 45% of insurers are currently partnered with InsurTech players, whilst a staggering 94% have aligned their priorities closer to emerging trends and AI-led risk insights and customer engagement.
Alara Basul, Reporter, bobsguide
The rise of artificial intelligence (AI) is set to change the way banks and financial services operate, as well as the way consumers approach their personal banking. Powerful AI can replace humans with machines, improve customer experience and provide simplified cost-effective solutions for businesses.
bobsguide recently spoke about AI’s impact on the fintech sector, today we’re digging deeper to find out how AI could transform banking by speaking to Tom Blomfield, Brett King and Spiros Margaris to discuss their views on AI and machine learning.
James Blake, CEO, Hello Soda
Big data is an area that companies are increasingly keen to invest in, and for good reason – with more data being collected and analysed than ever before, it’s essential for companies to understand it and make use of it in the best way that they can.
Many of the decisions that are made within the financial services sector are driven by data, from trading algorithms to risk assessment. But just how far can big data take us? Has it reached its peak or is there more potential to explore? We’ve taken a look at what the future may hold for big data in the finance industry.