What is artificial intelligence?
- Artificial intelligence can be defined as a set of technologies able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, translation between languages…
- AI software can handle huge amounts of unstructured and structured data to reduce manual tasks and provide game changing business intelligence
What will be the implications for the private Banking industry?
- During the next decade, traditional Wealth Management firms will face increasing competition from Fintech companies proposing financial services based on AI
- However, the private banking firms can also choose to partner with editors to develop disrupting : new client services and improve operational efficiency using AI-powered technologies like machine learning, cognitive search, natural language processing…
- Are you familiar with what these technologies mean? And do you know how they can add value to the wealth management industry?