FINTECH, AI & MACHINE LEARNING

Overview:

Fintech is a buzzword in the modern world, which essentially means financial technology. It uses technology to offer improved financial services and solutions.

The use of artificial intelligence (AI) and machine learning (ML) is evolving in the finance market, owing to their exceptional benefits like more efficient processes, better financial analysis and customer engagement.

The implementation of AI and ML in the financial landscape has been transforming the industry. As fintech is a developing market, it requires industry-specific solutions to meet its goals. AI tools and machine learning can offer something great here.

Fintech:

Fintech is the shortened version of the phrase Financial Technology, which is now used to describe businesses that offer financial services using software and modern technology. Some fintech developments have improved traditional services, for example mobile banking apps, while other have revolutionised services such as pay per mile car insurance or created new

Artificial intelligence (AI):

Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The term may also be applied to any machine that exhibits traits associated with a human mind such as learning and problem-solving.

Machine learning:

Machine learning is an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed. Machine learning focuses on the development of computer programs that can access data and use it to learn for themselves.

The future of  FINTECH, AI & MACHINE LEARNING  in Bangladesh:

Fintech is poised to accelerate financial inclusion in emerging countries like Bangladesh. Financial institutions in other emerging countries like India have already adopted many components of FinTech and are reaping its benefits. Fintech can reform payments processing activities within the economy of Bangladesh.

The next steps in AI mostly include generalising the intelligence and creating as many use cases as possible, which eventually can be converged into Human-Level Machine Intelligence (HLMI). Open AI wants to further advance AI in a way that benefits society as a whole and is freed from the need of generating revenues. As OpenAI has already made its reinforcement learning framework public, it will create possibilities for other companies to create different use cases and contribute to the AI research as an open source project.

Machine Learning is steadily moving away from abstractions and engaging more in business problem solving with support from AI and Deep Learning. With Big Data making its way back to mainstream business activities, now smart (ML) algorithms can simply use massive loads of both static and dynamic data to continuously learn and improve for enhanced performance. There has been a steady rise in ML-powered AI application in industry sectors like preventive healthcare, banking, finance, and media. We, Pridesys IT Ltd, are not lagging behind. We have trained professionals who can provide ML based solutions of various business problems as good as any. Here, we provide a brief description of some (but not restricted to) of our ML related services just to give you a hint of our capability.

In the context of Artificial Intelligence and Machine Learning, it is very difficult now to predict the future of humanity. We can accept AI as a new technology, but it should bring positive impacts for the welfare of the society and humanity. An outstanding technology can exhibit positive impacts on society.

* Collected from BVCL Forum