AI Apps for Banking Business: If there’s one technology that’s paying dividends, it’s AI in finance.
Artificial intelligence has given the world of banking and the financial industry as a whole a way to meet the demands of customers who want smarter, more convenient, safer ways to access, spend, save and invest their money.
Providing a good customer experience is not easy. “In today’s omnichannel world,” they write, “consumers have many more ways to learn about and purchase products and services.
Such as through websites and social media, in a store, and on a device while on the go — than they have had in the past.
With so many channels, platforms, and devices to get right, companies frequently struggle to coordinate and prioritize the many different ways that customers interact with brands.
To deal with omnichannel complexity, many companies are turning to artificial intelligence (AI) for help.
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AI Apps for Banking Business
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AI Apps for Banking Business
There is no wonder that artificial intelligence is storming the globe.
Technology is rapidly being used in a wide variety of business functions.
And is revolutionizing all facets of life and work.
AI allows machines to benefit from a vast volume of data and execute small and complicated activities.
Its apps have been of great benefit to both the company and the user.
Allowing them to do their job with ease and getting things completed on time.
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As AI differs from rule-based industrial automation and uses machine learning and NLP.
This technology is supposed to be very important to human beings.
Beyond enterprise software, AI has now entered the real-world scenario.
And is being used for smartphone and web-based applications.
Mobile iOS and Android operating systems available on the consumer market are gradually embedding AI-enabled applications.
To this point, the increasing prevalence of smartphones is becoming a core catalyst for the development of robust AI applications.
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AI Apps for Banking Business
What is AI?
Artificial Intelligence (AI) software is a computer application that simulates human behaviour by learning different data habits and observations.
Top AI capabilities include Machine Learning, Speech & Voice Recognition, Virtual Assistant, etc.
AI combined with Deep Learning is used to provide customers with the necessary features to make the business process even easier.
AI software is used to create and develop an intelligent framework from scratch with the aid of Machine learning.
AI Apps for Banking Business
1. Google Assistant
As Google’s AI-driven virtual assistant, Google Assistant is mainly accessible on smartphones and smart home platforms.
It is based on a series of tools developed to support languages, including English, Spanish, German, French, Italian, Portuguese, Russian, and many others.
Users can communicate with Google Assistant via natural voice and keyboard input.
This AI assistant will do all sorts of things that people would want it to do including playing music, looking for a favorite restaurant, calling people, and even helping them get valuable information from Google.
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2. Alexa
Alexa is Amazon’s AI-powered robotic assistant. This AI software is collaborating with Amazon Echo. Usually, Amazon Alexa enhances voice commands, NLP, and others to provide a wide variety of features to its customers, such as voice engagement, music streaming, question resolution, etc.
In addition, it is programmed to build to-do lists, set up alerts, download podcasts, play audiobooks, and provides real-time updates on weather, traffic, news, sports, and more. Alexa translates voice to text and uses Wolfram language which provides the best answers to all the queries raised by the clients.
AI Apps for Banking Business
3. Youper
An AI-powered mental wellness assistant app, Youper is available on both Android and iOS.
This app can help people gain care of their mental well-being when they can have fast interactions with them. Youper can direct users through personalized meditations.
Users can better understand themselves and monitor their mood with the aid of Youper. Youper uses AI to tailor a range of techniques. The software receives outstanding reviews in app stores and is highly rated by experts.
4. Siri
Siri operates on the use of speech queries and a natural language user interface. This AI-enabled voice assistant will make calls, send text messages, answer questions, and make suggestions. Siri adapts to user’s language use, searches, and expectations, through constant use.
It also delegates demands for a variety of Internet resources. Siri is pre-installed on iOS computers including iPhones, MacBooks, and Mac Pros. And, like other famous personal assistants, he’s got a voice companion named HomePod.
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AI Apps for Banking Business
5. Fyle
Fyle is an AI-powered expenditure tracking software, running on desktop, Android, and iOS. It’s a major player in smart expense accounting, and Fyle has recently launched direct integration with Google G Suite and Microsoft Office 365.
Companies such as Royal Enfield, Communicorp, etc. use Fyle, as the app provide useful features such as Real-time data extraction, reporting expenditures, business card monitoring, Real-time decision reviews, compliance workflows, travel advancements, travel requests, research, integration with common travel management, HRMS, accounting, and ERP applications.
6. DataBot
DataBot is an AI-powered virtual assistant, available on Windows 10, Android, and iOS. It is also available on Xbox One, iPad, iPod, Android tablets and Windows Mobile.
This app answers your questions with its speech and tackles the concerns that matter to you. DataBot provides digital platforms that provide you with images, information and interactive displays focused on the subject of your interest.
Using Google searches, Wikipedia, RSS networks, etc. to provide you with information. You can configure DataBot according to your accent, speech, etc preferences. DataBot can speak and understand the languages of English, Italian, Spanish, French, German and Portuguese. You can exchange information via SMS, email, and social media using DataBot.
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AI Apps for Banking Business
7. ELSA Speak
ELSA Speak is a popular AI-enabled app for learning how to speak English. Users of this software can learn how to pronounce English and speak English in quick dialogues.
AI provides them with quick reviews, so they can expect to make fast progress. There is trial duration of 7 days, during which the customer would need to order ELSA Pro. ELSA Speak is available on Android and iOS, but there are no PC or Mac models available at the time of publishing.
AI Apps for Banking Business
8. Cortana
AI software that barely needs an introduction is Cortana, a virtual assistant to Microsoft. This AI-powered virtual assistant is available on Windows 10, Windows Smartphone, Invoke, Microsoft Band, Android, iOS, Windows Mixed Reality (MR), Amazon Alexa, and Xbox One. Cortana provides hands-free support, addresses questions, reminds, makes notes, takes care of assignments, and helps handle the schedule.
With time, Cortana “learns” and takes part in more complicated activities. Cortana uses natural language processing, Bing search engine, and application data to provide customised advice, and has an API that can interact with different Windows and 3rd party applications.
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9. Socratic
Socratic is an AI-enabled app to support students with math and other assignments, and Google has recently revealed that it has acquired this app.
Students will take photos with their cell camera, and then Socratic uses its AI resources to offer visual examples for the topics that students need to understand.
Socratic uses text and speech processing and can help learning science, math, literature, social sciences, etc. This app is available on Android and iOS and is compatible with the iPad. To get the help of this app, users only need to take a screenshot of their homework and provide them with the related concepts that they can use to solve problems easily. Socratic embraces topics such as math, physics, chemistry, history, English, economics, and more.
AI Apps for Banking Business
10. Replika
Well-recognized as the best AI friend, Replika makes a chat with her users like a human being. It was originally designed for Apple Users, but now it’s also available on Android phones. The app has the ability to learn user preferences and interactions that can start as generic and deliver more comprehensive and customized responses.
The AI apps we’ve just reviewed will definitely show you how useful AI can be to your company, but creating an AI app can be tough! AI is a specific talent.
Conclusion
Artificial intelligence in finance is transforming the way we interact with money.
AI is helping the financial industry to streamline and optimize processes ranging from credit decisions to quantitative trading and financial risk management.