Artificial intelligence (AI) has been generating a lot of headlines lately, and for the right reasons. AI allows computing systems to process massive amounts of information and learn from that data without manual programming. This concept is also known as “machine learning." Financial, regulatory, and compliance firms process massive amounts of information daily, and it is through that data that these industries stand to make great strides as artificial intelligence becomes more mainstream.
Financial organizations currently use computers and technology to maximize an opportunity or a customer experience. Data is fed into a database or search engine to complete searches, filings, and other regulatory activities. The human element is still very much a part of the process in this scenario, and dictates completely the ability to learn, adjust, and innovate for customers. Hopefully, a better product and better customer service is the result.