More investors are setting their sights on the financial technology (Fintech) arena. According to consulting firm Accenture, investment in Fintech firms rose by 10 percent worldwide to the tune of $23.2 billion in 2016.
As e-commerce (and retail in general) becomes increasingly global and competitive, business leaders understand that AI can be a valuable tool in reconnecting with consumers. AI has the power to analyze huge amounts of data from numerous sources, including human behaviors and emotions. This can then be used to create more meaningful customer experiences.
The Banking and Finance sector (BFSI) is witnessing one of its most interesting and enriching phases. Apart from the evident shift from traditional methods of banking and payments, technology has started playing a vital role in defining this change.
Rapidly evolving technology and a digitally focused world have opened the door for a new wave of automation to enter the workforce. Robots already stand side-by-side with their human counterparts on many manufacturing floors, adding efficiency, capacity (robots don’t need to sleep!) and dependability. Add in drones and self-driving vehicles and it’s no wonder many are questioning the role of humans going forward.