Posts Tagged ‘Artificial Intelligence’

In our guide titled “6 Ways to Mitigate Risk in Cross-Selling for Financial Services,” we briefly touched on the use of artificial intelligence and intelligent machines, along with comprehensive processes, to fight fraud. In combination with ‘know your customer’ (KYC) processes to help catch suspicious banking activity and reduce risk through the analysis of data […]

In the recent “Shaping Digital Finance” session at the 20th Milken Institute Global Conference, Corrie Elston, chief technology officer, financial services, Google Cloud Platform, said that a financial services institution may experience 80% accuracy in detecting fraud and 99.5% false positives. As mentioned earlier, only about half of money laundering or terrorist financing incidents were […]

One of the buzzwords in the financial services industry is “machine learning.” While even among experts in the field there is no single accepted definition of machine learning, in simplest terms, machine learning focuses on the use of technology (often referred to as artificial intelligence or cognitive computing), to find solutions through continuous learning. It’s […]

Artificial Intelligence (AI) continues to mature as companies such as IBM, Amazon, and Google race to bring AI into the daily life of consumers. Underlying the technology of AI is natural language processing, which integrates fields as diverse as linguistics, neuroscience, anthropology, computer science, and psychology. As AI begins to permeate healthcare, its vast potential […]

Technology consolidation is constant theme transforming industries. For example, personal computers have merged with tablets and mobile phones as consumers show their interest in computing power on the go. Even applications have gotten smaller, with traditional software replaced by lightweight applications. Logically speaking, the same is happening in the enterprise software world where DevOps, security, […]

Two weeks ago, we held a webinar on the business use case of Watson within the insurance industry, highlighting the business savings of artificial intelligence in customer support and self-service. Artificial intelligence spending is skyrocketing, with worldwide spending expected to hit $47 billion in 2020, according to research from IDC.  Whether it’s insurance, higher education, […]

While anti-money laundering (AML) programs may present the biggest opportunity for machine learning to thrive, there are many issues when it comes to fighting money laundering. The number and high caliber of resources required to battle fraud in today’s highly regulated environment are immense, and the cost – of both personnel and technology required to […]

According to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), “Money laundering is the process of making illegally gained proceeds (i.e., ‘dirty money’) appear legal (i.e., ‘clean’). Typically, it involves three steps: placement, layering and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is […]

Every organization makes repetitive business decisions. These decisions are made by following organization’s business policies. The business policies are the guidelines developed by an organization to govern its actions. The policies define the limits within which decisions must be made. The business rules are the interpretation of these business policies. The business rules enable policies […]

With the artificial intelligence (AI) dream becoming more and more of a reality every day, Salesforce users will have a plethora of new ways to utilize Salesforce’s Einstein AI. “Salesforce Einstein is the first comprehensive AI for CRM. It’s an integrated set of AI technologies that makes the Customer Success Platform smarter and brings AI […]

Yesterday, we held a webinar featuring Christine Livingston (Perficient, IBM Watson Director) and Dean Upton (Blueworx, Product Management) around the delivery of customer service using IBM Watson. With self-service platforms becoming popular among global organizations, our webinar served as an informative dialogue around information and best practices. Check out our summary below: Our webinar also […]

Artificial Intelligence Computers can process information much faster than we can. But computers lack certain human attributes like reasoning and perception. These “general intelligence” traits are being studied and computer science geeks are working on translating these traits into computer algorithms. Goal setting is the main focus and research is being conducted on these complex […]