ai sector overviews Articles and Reports
Artificial intelligence “sector overview” reports are designed to help business leaders explore the possibilities and important AI trends across industries. Search our sector overview reports below:
AI has made some inroads in the cybersecurity sector and several AI vendors claim to have launched products that use AI to help safeguard against cyber threats. At Emerj, we’ve seen many cybersecurity vendors offering AI and machine learning-based products to help identify and deal with cyber threats. Even the Pentagon created the Joint Artificial Intelligence Center (JAIC) to upgrade to AI-enabled capabilities in their cybersecurity efforts.
Speech recognition is an AI technology that can allow software programs to recognize spoken language and convert it to text. A subset of speech recognition is voice recognition. Voice recognition is an AI-enabled capability that enables a software algorithm to match the identity of a customer to their voice.
Our sector-wide research suggests that natural language processing (NLP) is one of the more common AI approaches in banking AI use-cases today. Sentiment analysis is a capability of NLP which involves the determining whether a segment of open-ended natural language text (which can be transcribed from audio) is positive, negative, or neutral towards the topic being discussed.
Digitally-native eCommerce businesses are used to working with their customer data in order to write copy for marketing campaigns, run PPC ads, calculate customer lifetime value, and make decisions based on core metrics within CRM dashboards.
Investment in AI by banks and financial institutions for risk-related functions such as fraud and cybersecurity, compliance, and financing and loans has grown dramatically in the last half-decade compared to customer-facing functions.
Banks are in one of the best positions for leveraging AI in the coming years because the largest banks have massive volumes of historical data on customers and transactions that can be fed into machine learning algorithms. We recently completed our Emerj AI in Banking Vendor Scorecard and Capability Map in which we explored which AI capabilities banks were taking advantage of the most and which they might be able to leverage in the future.