Tag Archive : Artificial Intelligence Analytics

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ata Analytics and AI the future of hassle-free Banking services

In an era of machines and Artificial Intelligence, the traditional form of banking has taken the back seat, when compared with tech-savvy Fintech players of the industry who are keen to adapt latest technologies to keep up.

As per market experts, it goes without saying that AI will empower Banking Services, redefining operations by innovating products and services beyond the conventional norm. This eventually perks up customer experiences. Leveraging advanced technologies, human workers will be replaced with sophisticated algorithms.

Such a competitive edge can only be achieved by banking corporations by embracing AI and weaving it into strategic business decisions for maximum profits. 

AI can double Business Profits

AI professionals quote; there are three primary ways the introduction of AI in the Banking Sector can shoot business profits.

Here they go:

  • Enhancing contemporary Profits and Loss levers
  • Identifying new growth patterns
  • Delivering the Digital bank

But the question is: How AI can achieve this objective? The answer to it is by:

AI in the Banking Sector can shoot business profits
AI in the Banking Sector can shoot business profits
  • Profiling and Customer Segmentation– Being aware of the financial profile of all the customers helps banks to jack up the expenditure and income for next month, and maximize revenue.
  • Customer Spending Pattern Analysis- Typically, banks have adequate data about a customer’s flow of income every month, net savings and utility expenses. With the help of this model, banks can conduct a risk assessment, loan screening, cross selling of financial products, and mortgage evaluation.
  • Evaluating Creditworthiness- Determining whether an individual is likely to be a defaulter and estimating the amount that can be offered to him/her.
  • Transaction Channel Identification- With the help of AI, banks can determine if a customer is likely to keep or withdraw money on payday. The latter customers can be pitched for short-term investments.

All the above-mentioned objectives have one thing in common- SPIN Strategy AI Models.

SPIN’s AI models are banking Operation-Focused

At SPIN, we provide a range of AI and ML learning tools for a host of operational applications for financial institutions. Such tools include:

1. Risk assessment, compliance & reporting 

Comprehends the spending pattern and analyzes previous credit history to assess the risk of issuing a loan to a customer.

2. Sentiment Analysis: 

Customer view and market rumors play a significant role in business, and with NLP it is easy to comprehend customer sentiment and its impact on the enterprise.

3. Propensity Modeling

Uses historical data to make business predictions by directing consumers to the right messages and website locations.

If that’s not all, here are a few factors to conclude the fact that SPIN  Models are a boon for the banking sector.

SPIN’s AI models are banking Operation-Focused
SPIN’s AI models are banking Operation-Focused

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Artificial Intelligence – Leading the way towards global development!

SPIN for Banking Services: Here is why

  1. Communication: We keep our customers in the loop with necessary and crisp data, perfecting the art of delivering the right solution to the right clients at the right time.
  2. Minimal expenses: No fluctuating invoice rates for our clients. We maintain a simple flat monthly rate.
  3. Rate: Simple monthly pricing for your business requirements at easy rates.
  4. Experience:  Maintaining optimum performance standards, our experts use AI-models for Data Integration, Conversion Optimization, Data Analysis, etc.
  5. Data Integration: We combine data from multiple digital marketing platforms to prepare customized reports to generate a holistic understanding of your brand’s ROI and growth.
  6. Predict Churn: Using AI and ML, SPIN identifies segments of the customer base who are about to leave you for your competitor brand.

The result of using SPIN AI Models for Banking Decisions- Improved decision making for credit and loans.

SPIN AI Models for Banking Decisions
SPIN AI Models for Banking Decisions

Here is a real-life scenario- Case Study

The Client-  The client offers financial services and technical support in a bid to increase productivity, boost innovation, and add economic integration. 

The Issue– The bank officials have diverse knowledge on various topics, and have shaped themselves as SMEs of certain topics. They share their knowledge from different geographical locations. The client wanted a single integrated knowledge management platform for individuals to reach out to these SMEs for a certain project in hand.

The Solution- SPIN worked with the client to deploy a cognitive computing application that would include a virtual agent to comprehend Natural Language request inputs and utilizes cognitive deductions to answer the queries.

In a bid to simulate human-like conversations between the systems and the users, SPIN leveraged Advanced Text Analytics including entity extraction, keyword extraction, emotion analysis, sentiment analysis, etc. 

The Result- The bank now has the faith that productivity across the globe will hit the roof due to the easy availability of SMEs. This will boost operational efficiency by 30%-40% and expand cross-broader collaboration and employee management too.

To conclude with

We are more than happy to help Banking Organizations with AI and Data Analytics services. Guaranteeing a solution that caters to clients’ needs and budget, at SPIN we ensure to provide excellent value for businesses. 

For more info, visit: https://www.spinanalyticsandstrategy.com/

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Is joining hands with Big Data Analytics the only route for Cyber Security programs?

AI FACEAPP Challenges

As far as the fragment of human imagination travels, speed that up into hundred times more and still, you would not be in calculative terms of understanding to what extent can modern technology lead up to! Barring all limitations, technology evolution in the 21st century seems to be unfolding in such an escalating manner that even the direst of things are not impossible attainments for Scientists and Data Engineers.

Highlighting under this context, one of the massively growing and pervading all sectors of business and lives, is the emergence of Artificial Intelligence. With the sarong demands of the youth, business professionals, and corporate leaders for more upgraded versions of the technology, Artificial Intelligence does complete justice to the aforementioned productively. Additionally, the complimenting elements of more expediency, more flexibility, and more ease of use with AI make it even more incredible.

Here are few of the most in-trend technologies accelerated by artificial intelligence:

Deep Learning

Eminently categorized as one of the best forms of Artificial Intelligence, Deep Learning performs developmental actions that produce algorithms known as artificial Neural Networks. The base model of this has been stimulated by the human brain function and structure. Amplifying much ahead than the equivalent progress of Machine Learning, Deep Learning has outdone 40 fold times more between the years 2015 and 2018. Sectors like autonomous vehicles, computer vision, and automatic text generation have Artificial Intelligence technology at its peak with deep learning being its core use of operative mode.

Facial Recognition

Being regarded as the future of Artificial Intelligence, facial recognition is a colossal breakthrough in the field of technology. Its mounting popularity and progressive growth in the market leaves no room for doubt about its current functionality. With the advent of the year 2019, facial recognition takes giant leaps and dominates the urban mass with its significant power of technological autocracy. To state an example from the current hour, AI-based fun application known by the name FaceApp is a direct testimony of the factual existence of AI’s exponential growth. The app analyzes your face and shows your aged look due to the app’s functionality based on AI + Analytics and ML.

Cloud

Enhancing and streamlining business operations and managing data storing systems superfluously, the cloud is a fantastic example of AI-empowered technologies. The global expansions of MNC’s have pushed forward the occurrence of the largest public cloud adoption in the year 2019.

Therefore, transformations of businesses digitally have laddered up to a whole new level that the future predictions are even challenging to fathom. Building a concrete reputation as a leading AI-empowered business solution provider, SPIN Strategy is a name that is going to be your need of the hour. With a highly qualified and certified competent team of engineers and Data Scientists, SPIN Strategy understands the essence of the AI revolution and its impact on business and leaves no stone turned to improvise operational excellence.

Interested to know more? Get in touch! https://www.spinanalyticsandstrategy.com/ 

Let’s get down straight down to business- the potential of Artificial Intelligence has toppled human imagination, and for most of the organizations, it has been the real game changer. That’s given!

In this competitive era, when surpassing your industry peers in the rat race is the need of the hour, Artificial Intelligence and Machine Learning can really seal the deal.  Be it using Artificial Intelligence to figure out the buying trends, comprehend personalization, customize supply, comprehend customer behavior or conduct financial trading, embracing Artificial Intelligence has no other alternative.

So, to use Artificial Intelligence algorithms as the perfect Competitive Differentiator and up the game for your business, it goes without saying that one needs to harness this technology to line up the strategies, join forces and come up with potential opportunities.

Here is the Do’s a business needs to take on to leverage Artificial Intelligence and acquire that competitive edge, among its peers.

Executive sponsorship is vital for ARTIFICIAL INTELLIGENCE

The importance of the term ‘Executive Sponsorship’ has further garnered momentum with the introduction of Artificial Intelligence and Machine Learning. Why?

The explanation is simple- the more engaged the C-suite members are with this technology, the chances to implement and going down the line with Analytics and Artificial Intelligence application across the organization steps up.

As per market reports, enterprises that have successfully implemented Artificial Intelligence and Machine Learning at a large scale confirm the staggering contribution of C-suite executives, as compared to the organizations where Artificial Intelligence is not prevalent.

Align investments, assets, and business plans with ARTIFICIAL INTELLIGENCE strategy

If a business intends to be one step ahead of its adversaries then it needs to be on its toes. In tune with this, a business needs to set the tone of the organization’s investment, assets, and resources with the Artificial Intelligence application strategy.

To cut the long story short- to increase the pace of growth, it is imperative for a business to align enterprise priorities with Artificial Intelligence projects, and voila! Victory.

Implement Agile Methodology to boost the growth of ARTIFICIAL INTELLIGENCE and Analytics

It is a known fact that traditional IT development, often, takes longer than expected and sometimes yields unsatisfactory outcomes. To be precise, less business wins for your company.

Enters Agile methodology, which enables a business to access all data from the data warehouse and open doors for analytics insights, giving your business the competitive edge it needs.

ARTIFICIAL INTELLIGENCE to help your competitive future

Businesses these days are adapting and are open to ideas and technological advancements that can turn the tables for them.  The promising future of Artificial Intelligence and Analytics makes it a preferred choice among business leaders to incorporate it in the company operations.

Bottom line- business organizations that will give Artificial Intelligence applications a strategic priority is most likely to acquire a competitive advantage in the marketplace.

If you are motivated to leverage Artificial Intelligence for your business, get in touch with SPIN and it team members today, who can help you with your journey.