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AI in fintech industry

AI-enabled technologies such as machine learning, data analytics, neural networks, and others can dramatically improve financial service. Indeed, AI is becoming increasingly crucial for business services. It addresses challenges and drives new profitability in all aspects of FinTech.

Most fintech businesses have gained market share by effectively automating and modernizing traditional operations that incumbent financial institutions were slower to implement.The worldwide AI market in Fintech was anticipated to be worth USD 7.91 billion in 2020, and it is expected to grow to USD 26.67 billion by 2026.

AI and machine learning have aided fintech by allowing them to handle massive volumes of client data. This data and information is then compared to acquire findings on acceptable services/products that clients desire, which has significantly benefited in the development of customer relations.

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Challenges faced without AI

Security

Customer Care

Fraud

Solutions

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Use cases of AI in Fintech

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Tech stack used for solutions

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Machine Learning

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Artificial Intelligence

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Natural Language Processing

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