Shownotes Transcript
Points to Remember — Today's Amazon Deals - https://amzn.to/3FeoGyg —- Points to Remember According to MarketsandMarkets, how the AI market is expanded all over the industries and how the CAGR and market share has been expanded is being illustrated on the image 19.
Fintech companies have disrupted the traditional banking sector by offering digital and mobile services, such as online banking, mobile payments, and peer-to-peer lending.
These solutions offer speedy and effective customer support by understanding and responding to consumer enquiries using natural language processing and machine learning algorithms.
Machine learning algorithms are employed in fraud detection and prevention using AI to spot suspicious transactions and stop fraudulent activities.
Banks may improve customer happiness and loyalty by providing personalized advice and services to each individual client by evaluating their data and behavior.
The effects of ChatGPT on the fintech industry are extensive.
In addition, the technology is assisting FinTech firms in more effectively and efficiently meeting regulatory standards, which is essential in a highly regulated sector.
Businesses may learn a lot about the parts of their operations that are more vulnerable to possible problems by leveraging ChatGPT’s data analysis capabilities.
Also, by using ChatGPT to identify possible problems, banks and fintech firms may create risk management plans that are more efficient.
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