The idea of embracing artificial intelligence (AI) in the workplace is to work smarter, not harder. According to our Professional Refresher on the subject, “there is no widely accepted definition of AI” but it can be regarded as “technologies with the ability to perform tasks that would otherwise require human intelligence” and “that have the capacity to learn or adapt to new experiences or stimuli”.
AI is an umbrella term encompassing tech such as machine learning (ML), visual perception, speech recognition, language translation, and the capacity to learn new experiences. Within financial services, it can assess risk, predict outcomes, and process transactions more efficiently, which saves on costs, accelerates customer service, and creates more reliable financial assessments, such as credit risk.
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