AI Articles and Analysis in Finance

Explore articles and analysis related to artificial intelligence in finance, including coverage of banking, insurance, fintech, and more.

AI for Credit Scoring - an Overview of Innovation

AI for Credit Scoring – An Overview of Startups and Innovation

Several companies offer AI-based credit scoring applications to banks and enterprise creditors looking to better understand the risk associated with their potential borrowers. Traditional methods of credit scoring take into consideration the credit histories of potential borrows, but this might not allow certain people access to credit despite the fact that they could pay their loans back when their payments are due.

An Overview of AI Document Digitization in Finance

An Overview of AI Document Digitization in Finance

There are several companies claiming to offer AI document digitization solutions to banks, insurance enterprises, and other financial institutions. We found that these solutions are intended to help financial institutions with at least one of the following business problems:

AI for Customer Service in Banking

AI for Customer Service in Banking – Current Applications

IDC estimated the size of overall AI-related spending in the banking industry in their Worldwide Semiannual Cognitive Artificial Intelligence Systems Spending Guide report at around $3.3 billion in 2018. It follows that AI would find its way into the banking world. We covered the current state of AI banking applications in the US and India in our previous reports, and in this report, we're going to focus on where AI can be leveraged for customer service applications in banking. This report covers vendors offering software across three functions:

Document Search and Data Mining in Insurance - Claims Processing, Fraud Detection, and Data Management

Document Search and Data Mining in Insurance – Claims Processing, Fraud Detection, and Data Management

This article was originally written as part of an in-depth AI report sponsored by Iron Mountain, and was written, edited and published in alignment with our transparent Emerj sponsored content guidelines. Learn more about our thought leadership and content creation services on our Thought Leadership Services page.

Document Search and Data Mining in Banking – Natural Language Processing Capabilities

Document Search and Data Mining in Banking – Natural Language Processing Capabilities

This article was originally written as part of an in-depth AI report sponsored by Iron Mountain, and was written, edited and published in alignment with our transparent Emerj sponsored content guidelines. Learn more about our thought leadership and content creation services on our Thought Leadership Services page.

Chatbots for Insurance - Progessive, Allstate, GEICO, and More

Chatbots for Insurance – Progessive, Allstate, GEICO, and More

Although it's clear that AI is only beginning to make its way into the insurance sector, Accenture estimates that big investments in AI could increase the annual profitability of insurers by 20%.

AI in Fintech - Current Applications and Use Cases

AI in Fintech – Current Applications and Use Cases

In their recent Worldwide Spending on Cognitive and Artificial Intelligence Systems report, IDC estimated that banking investments in cognitive and AI systems in 2018 might total around $4.0 billion. Many AI vendors claim to offer software for numerous finance use cases, such as credit scoring, insurance underwriting, debt collection, fraud detection, and more recently, financial regulations, or so-called regtech.

Big Data in Finance - Current Applications and Trends

Big Data in Finance – Current Applications and Trends

International Data Corporation (IDC) reported in their  Worldwide Semiannual Big Data and Analytics Spending Guide that global investment in big data and business analytics (BDA) will grow from $130.1 billion in 2016 to more than $203 billion in 2020. In a previous report, we covered machine learning in the finance sector, and in this report, we dive deeper into big data solutions and data management platforms for financial institutions. The companies in this report all claim to help financial institutions with at least one of the following:

Finance

Explore articles and analysis related to artificial intelligence in finance, including coverage of banking, insurance, fintech, and more.