A naukri.com initiative
Medium
1M
13
How AI is transforming financial services & banking
- AI is reshaping financial services by enhancing fraud detection, risk management, and customer experience through innovation.
- Organizations aim to scale AI efforts in cloud environments with an integrated approach involving cross-functional partnerships and cutting-edge tools.
- AI applications in banking include areas like anti-money laundering, cybersecurity, fraud detection, and multichannel marketing.
- Capital One emphasizes the power of cross-functional partnerships in developing enterprise AI capabilities and applications.
- Diverse teams, including data scientists, engineers, researchers, and product managers, collaborate on AI initiatives to drive innovation.
- Strategic investments and partnerships with universities contribute to the advancement of AI in finance, ensuring responsible development and deployment.
- AI technology at Capital One focuses on enhancing customer experiences, improving real-time modeling, and optimizing efficiency.
- Using AI for personalized and proactive communication with customers, Capital One leverages machine learning to understand temporal data in finance.
- Generative AI tools are employed to enhance customer interactions, assist agents in resolving queries efficiently, and support software developers in coding.
- Key takeaways highlight the importance of data quality, evaluation, tooling, and continuous modeling refinement in successful AI implementations in financial services.
Read Full Article
Like
For uninterrupted reading, download the app