Every year, Brazilian companies suffer losses of US$10 billion due to cyber fraud alone , and a large part of these problems occur when accounts are hacked. Machine learning applied to finance allows applications to thwart security breaches by criminals.
By comparing information, such as out-of-state purchases or large withdrawals, algorithms are able to assess the likelihood of a transaction being fraudulent. Depending on the nature of the transaction, the system can automatically deny the attempted withdrawal or purchase, for example.
Think of robots that identify, based on variables, which malta whatsapp data stocks will rise in the coming weeks or months. That would be amazing, wouldn't it? Fans of the Netflix series Billions must have already remembered it. The series shows the application of machine learning in finance , for buying stocks. And it can do that too!
Using algorithms, the machine learns minute by minute, taking on the role of the analyst. Thus, it can identify assets dynamically. This function can make work easier for small and large investors.
4 – Boost marketing
Artificial intelligence can contribute a lot to the marketing of financial companies. It is capable, for example, of identifying the behavior of customers who give up on maintaining a relationship with the institution.
This makes it possible to create specific campaigns to capture this consumer. Another point is predicting the effectiveness of previous campaigns and strategies for a specific audience.
5 – Customer service
One of the main complaints consumers have is related to poor customer service. Automated support systems can change this situation. This is because they can direct customers to the correct department and prevent people from waiting too long to be served.
The incredible capacity of artificial intelligence to access data can even resemble a human. Just think of the digital assistants we already have at our disposal, such as Apple's Siri, Google's Allo and Paul from the disruptive teaching platform LIT, which learns from the student's unique way of absorbing content and adapts to improve the learning experience.