Finance & Services

Finance has used Machine Learning before the advent of mobile banking apps. Given the volume of data involved in finance and its quantitative nature, few industries are better suited for advanced analytics. Use cases for business analytics in finance are empowered by more accessible computing power and predictive analytics tools. Today, data analysis represents an essential role in many parts of the financial ecosystem.
Financial application of Machine Learning
Data analytics are used to approve loans, score credit, and assess risks. But few technically-savvy finance professionals use data science spontaneously. Predictive analytics generate massive opportunities for analytics techniques in finance. The motivations for finance executives to adopt big data analytics and machine learning are reduced operational costs thanks to process automation and predictive analytics. There is also better productivity and enhanced user experiences. And last but not least: better compliance and strengthened security.
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Automating Insurance Claim with Machine Learning

It takes 46 days to complete a claim, which creates a bad customer experience. Claim handlers and insurances can benefit from Machine Learning to improve their processes and create customer satisfaction....
fraud

Fraud detection

When you use your credit card at a gas station that has a hidden skimmer, for instance, or when you place an order from a malware-infected website. Can banks use artificial intelligence to detect such malicious purchases?...