Artificial intelligence has the potential to radically change how we work, customer expectations and the decision making process in business. It has the potential to transform multiple functions including fraud detection to the lending process, asset management to risk assessment, regulatory compliance, performane efficiency and much more. The vast amount of highly accurate live and historical data held by institutions are valuable assets, but they are not being fully understood or exploited in decision making processes. As new startups enter the market focusing on customer experience and build out predictive capabilities, it is now more vital than ever to understand where the opportunities to partner and collaborate and also understand potential threats Artificial Intelligence (AI) is the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.
Below lists the key benefits which will enable AI to potentially transform how business is done in the future:
Elimination of repetitive tasks. AI has the potential to eliminate repetitive tasks in the workplace. From chatbots that can free up human staffers’ times to work on more complex issues, to scheduling AIs that eliminate the need to schedule meetings, AI will ultimately enable humans to spend more time focusing on creative and more interesting activities.
Deeper personalization. AI offers a potential for deeper personalization in terms of the ability to better understand customer needs at a level never previously believed to be possible. This is potentially transformative because it enables a deeper level of understanding of each customer.
Automating tasks and saving time. AI will save business considerable time and resources by automation of tasks that will free up employees to focus on strategic initiatives as well as collecting data as well as providing decisions based on that data much faster than human beings can do. It seems quite possible that AI has the capability of doing so much more than we can do on many levels which is just the start.
Fewer screens. The Guardian's recent report on the sources of depression reveals screen time adoption on mobile devices is a major contributor. AI will enable us to interact with information as if we’re interacting with a knowledgeable individual. We won’t have to look at a screen to learn about anything, we can simply converse with AI. SIRI is already a reliable personal assistant when it comes to setting reminders, alarm clocks, sending texts, etc. AI will make it possible for us to do virtually anything with voice command.
Software and human teams working together. The biggest change that’s coming is the move from humans using the software as a tool, to humans working with software as team members. The software will monitor things, alert humans, and execute basic tasks without human intervention. This will further free human time for the really creative or interesting tasks and greatly improve business. If deployed correctly A.I. is going to have a much larger impact than in work efficiency.
Increased productivity. Freeing ordinary folks from repetitive tasks and giving them personal assistants will allow works to devote their time to more complex tasks. The resulting product will mark transformative incremental gains for business owners, Automation will allow additional time and resources to be dedicated to what companies need to prioritize.
Helping struggling communities and nations. While AI is critical for self-driving cars, the military, commerce, AI-driven SEO and gaming, it’s poised to make the most human impact in medicine and human behavior. Imagine the UN leveraging neural networks and deep learning to discover what helps some communities thrive and others fall behind. Those lessons can then be leveraged into community builders, city planners, grants and projects.
Improved the overall quality of life. With each wave of technology advancement, the quality of life for the world overall has increased. With AI, we will have better personalized healthcare, more efficient energy use, enhanced food production capabilities, improved jobs with less mundane work, and more. People will lead longer and more high-quality lives.
About this one-day Masterclass workshop:
This Artificial Intelligence workshop designed for learners wishing to gain an understanding of the fundamentals of Artificial Intelligence and how to use AI to optimize their company value chain and transform their customer’s journey including understanding the organizational, legal and ethical issues involved.
Who should attend?
This workshop is designed for both financial services professional and non-financial services professionals including corporate executives, marketers, IT specialists, CEO's, senior strategists and entrepreneurs. who wish to fully understand the practical applications of artificial intelligence to solve real business problems such reduced costs substantially by removing the need for middlemen, eliminating a lot of manual processing, increasing the speed of transactions and increasing business transparency.