एआई और फिनटेक: एक अप्रतिम जोड़ी?
16 मई 2023
Dear Reader,
In recent years, there has been a rapid rise in the use of Artificial Intelligence (AI) in the financial technology (fintech) industry. From automated investment platforms to fraud detection systems, AI has revolutionized the way financial services are delivered and managed.
AI in fintech refers to the use of machine learning algorithms and other AI technologies to streamline financial processes, improve customer experiences, and reduce operational costs. With the increasing availability of data and advancements in machine learning algorithms, AI has become a game-changer for the financial industry providing institutions with valuable insights on customer behaviour, market trends, and investment opportunities.
One of the significant areas where AI has impacted fintech is the development of Automated Investment platforms. With AI-powered investment management algorithms, financial advisors can provide personalized investment advice based on a customer's unique financial situation and goals. This allows financial advisors to provide more accurate and effective investment advice, leading to better investment returns for their clients.
AI is also transforming in the realm of customer service. Chatbots, powered by Natural Language Processing (NLP) technology, can provide instant support to customers, 24/7.
Another area where AI is making a significant impact is in fraud detection and prevention. AI-powered systems can analyse large amounts of transaction data and quickly detect fraudulent activity, which can help financial institutions prevent financial loss and protect their customers' data.
AI is also being used to improve risk management with machine learning algorithms that can analyse historical data and identify potential risks real-time.
With AI-powered credit scoring algorithms, one can analyse a wide range of data points, including social media activity and behaviour, to determine customer's creditworthiness in providing loans and other financial services to those excluded by traditional credit scoring models.
However, with these benefits, there are also concerns about the use of AI in fintech. One of the main concerns is around data privacy and security. With AI systems handling sensitive financial data, there is a risk of data breaches or misuse, which could lead to significant financial and reputational damage.
In conclusion, the rise of AI in fintech is transforming the financial industry in many ways from fraud detection to investment and risk management with new tools to deliver better and more personalized services to their customers. AI has the potential to revolutionize financial services, and with appropriate safeguards in place, it can benefit consumers and businesses alike.
Highlights of #Issue 16 of FinTalk are:
- Home grown StartUp Stories: Sky Art Zone - Sculpting artefacts and their dreams
- UPI processes 8.7 bn transactions in March, highest ever since inception
- Fintech Startups funding hits $1.2 bn in Q1 2023, shows early signs of recovery
- Applying emerging quantum technology to financial problems
- UIDAI, NPCI to set up eKYC aggregator
With Regards,
Akhil Handa
Chief Digital Officer
Bank of Baroda
PS:
To subscribe: bit.ly/BankofBarodaFintalk
To unsubscribe: https://goo.gl/forms/9nE3g0fqNlgnGbVo2
Popular Articles
Related Articles
The Importance of Pension Funds: Secure Your Future with Steady Retirement Income
-
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
नियामक प्रौद्योगिकी: डिजिटल युग में अनुपालन
आज के तेजी से विकसित कारोबारी परिदृश्य में, जहां तकनीक में हो रही प्रगति, उद्योगों को नया स्वरूप प्रदान कर रही है तथा नियामक अनुपालन संगठनात्मक सफलता का एक महत्वपूर्ण पहलू बन गया है. तथापि, नियामक प्रौद्योगिकी, या रेगटेक के आने पर, कंपनियों के पास अब अपनी अनुपालन प्रक्रियाओं को सुव्यवस्थित करके इसमें बढ़ोत्तरी करते हुए इनके निपटान का एक सशक्त माध्यम बन गया है. रेगटेक ने वित्तीय सेवा उद्योग और इससे परे एक गेम-चेंजर के रूप में एक मुकाम हासिल किया है, नियामक अनुपालन के क्षेत्र में आधारभूत परिवर्तन ला दिया है.
अनंत मन से अंतर्दृष्टि: चैट जीपीटी की दुनिया की खोज
आइए बात करते हैं उस ऐप की जिसे 1 मिलियन ऑनलाइन यूजर्स तक पहुंचने में सिर्फ 5 दिन लगे। हम इसे FOMO कहेंगे यदि हम अपने साथियों या सहकर्मियों के बीच चैट जीपीटी के बारे में नहीं सुनते या जानते हैं एवं इसमें हमारा न्यूज़लेटर कोई अपवाद नहीं है। शुरुआत के लिए, जब चैट जीपीटी को अपने बारे में बात करने के लिए कहा जाता है तो यह कहता है, "मैं चैटजीपीटी हूँ , जो ओपन एआई द्वारा विकसित भाषा मॉडल है। मुझे भाषा की संरचना और पैटर्न सीखने के लिए गहन शिक्षण एल्गोरिदम का उपयोग करके पुस्तकों, लेखों और वेबसाइटों सहित पाठ डेटा के एक विशाल कोष पर प्रशिक्षित किया गया था। एक भाषा मॉडल के रूप में, मेरा प्राथमिक कार्य प्राकृतिक भाषा इनपुट के लिए मानव जैसी प्रतिक्रियाएं उत्पन्न करना है। मैं साधारण से जटिल तक अनेक प्रकार के सवालों के जवाब देने में सक्षम हूँ और विभिन्न विषयों पर होने वाली बातचीत में जुड़ सकता हूं।
Leave a Comment
Thanks for submitting your details.