Almost every company in the financial technology sector has already started using AI to save time, reduce costs, and add value. storing and accessing financial information combined with the maturation of tech capabilities are all in place to accelerate the digital transformation of accounting and finance. Actually, when machines take over repetitive, time-consuming and redundant tasks, it will free human finance professionals to do higher level and more lucrative analysis.
as prediction gets cheaper and better, machines are going to be doing more of it. That means businesses — and individual workers — need to figure out how to take advantage of the technology to stay competitive. This can affect the way you bank, invest, receive loans and prevent financial crimes.
AI has already proven its capabilities in retail, healthcare, and trading, and therefore, looks like a safe bet. Today, machine learning has come to play an integral role in many phases of the financial ecosystem, from approving loans to managing assets, to assessing risks.