AI and the Future of Banking [Kõva köide]

"AI and the Future of Banking is an informative guide on the applications of Cognitive Analytics/Artificial Intelligence (AI) to the banking industry. The book will equip any industry participant, including new entrants to the industry, with the essential information to understand the implications of data and analytics on their roles, responsibilities and personal career development, with focus on the use of analytics to create operational effectiveness, customer retention and finance and risk management. While a combination of theory and published case studies, it will not be a technical book (i.e. about IT architecture, platforms and algorithms) or a detailed review of a specific working area but rather an easy read for those with limited or no IT background. The book will also discuss the concept of data-driven 'Open Banking,' which is a process that uses 'APIs' to share information securely, without having to reveal passwords. IDC say that by 2020, 50% of all businesses will be using cognitive analytics, which are intelligent and self-learning systems that respond to human voices rather than needing to be 'coded'. The use of Cognitive Analytics/Artificial Intelligence (AI) Systems and data in banking is set to accelerate. The cognitive or a 'AI' computing market is estimated to exceed $12.0 Billion by 2022, with banking identified as an 'early-mover' industry. Gartner say that AI will be mainstream for banking in 5-10 years. There is already evidence that early-mover banks are beginning to investigate these new technologies. However, there are many laggards and market maturity is inconsistent, with knowledge transfer being critical at this stage"--

An industry-specific guide to the applications of Advanced Analytics and AI to the banking industry

Artificial Intelligence (AI) technologies help organisations to get smarter and more effective over time – ultimately responding to, learning from and interacting with human voices. It is predicted that by 2020, half of all businesses will be using these intelligent, self-learning systems. Across its entire breadth and depth, the banking industry is at the forefront of investigating Advanced Analytics and AI technology for use in a broad range of applications, such as customer analytics and providing wealth advice for clients. AI and the Future of Banking provides new and established banking industry professionals with the essential information on the implications of data and analytics on their roles, responsibilities and personal career development.

Unlike existing books on the subject which tend to be overly technical and complex, this accessible, reader-friendly guide is designed to be easily understood by any banking professional with limited or no IT background. Chapters focus on practical guidance on the use of analytics to improve operational effectiveness, customer retention and finance and risk management. Theory and published case studies are clearly explained, whilst considerations such as operating costs, regulation and market saturation are discussed in real-world context. Written by a recognised expert in AI and Advanced Analytics, this book:

• Explores the numerous applications for Advanced Analytics and AI in various areas of banking and finance
• Offers advice on the most effective ways to integrate AI into existing bank ecosystems
• Suggests alternative and complementary visions for the future of banking, addressing issues like branch transformation, new models of universal banking and ‘debranding’
• Explains the concept of ‘Open Banking,’ which securely shares information without needing to reveal passwords
• Addresses the development of leadership relative to AI adoption in the banking industry

AI and the Future of Banking is an informative and up-to-date resource for bank executives and managers, new entrants to the banking industry, financial technology and financial services practitioners and students in postgraduate finance and banking courses.