Retail Banks and AI: An Easy Walkthrough or Rough Weather Ahead?

Terms like speech recognition, image recognition, gesture recognition, machine learning, and robotic process automation are gradually entering the traditional banking business lexicon. As a result, the data intensive banking industry is experiencing pressure to dive into the data pile it’s sitting on to uncover meaningful inferences about existing and prospect customers. The above terms are 

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AI perfectly illustrates Darwinism at a business level

One of the core tenets of Darwinism is the idea that only those equipped to deal with their environment will survive. Darwin may have addressed the natural world, but his insights still offer some valuable lessons in business. The rise of Artificial Intelligence (AI) and how businesses are adapt to this new technological development provides 

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5 mistakes to avoid while solving manual adjudication problems through Pega Robotics

Hold claims or Pend claims pull down the efficiency of a Payer organization to a high degree. There is little reason to believe that Hold claims or Pend claims or manual adjudication problems will reduce in the near future, thanks to ever changing healthcare business rules and the high risk and efforts involved in fixing 

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Automating your office processes? 8 lessons to bear in mind

Using technology to automate white collar work is a top agenda item with leaders in industries that have significant back office costs; banking and insurance for example. With the squeeze on the top line, increasing efficiency is critical to maintaining financial performance. But how to separate good practice from the hype? Whether it be robotic 

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Winning the race with Pega 7

Leveraging the Pega 7 Platform with the right implementation approach can help you win the race against your competitors. Have you have ever wondered how elite cyclists prepare for the Tour de France? It’s quite staggering!! Elite riders measure everything: 450 – 475 watts of power kph-plus, VO2 max, Body Mass Index (BMI), Heart Rate, 

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Smart Automation for Banking & Financial Services Customer Due Diligence and KYC

The enormity of the effort and spend for compliance is best illustrated by Jamie Dimon’s speech to shareholders last year – JPMC spent over $1.6bn on their Compliance Department, employing 13,000 people to ensure they address regulatory issues and compliance. This after they paid more than $16bn in legal penalties in 2015! Compliance is an 

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Real News Alert! Artificial Intelligence Is Redefining Marketing

Digital technologies are at the center of everything. The ability to act smarter and move faster determines whether a business flourishes or flounders. Yet generating greater value for customers while producing new efficiencies for an organization requires more than sophisticated devices, systems, and data frameworks. “Artificial intelligence, machine learning, and deep learning are revolutionizing business–and 

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Demystifying the Compliance Challenge

These are uncertain times, especially for those in the finance industry. The regulatory picture is changing rapidly; the fact the world’s top investment banks have been fined a remarkable $43 billion over the past few years suggests they’re having a hard time maintaining compliance. Regulations such as Dodd-Frank in the US, EMIR in the EU, 

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How AI can make IT Infrastructure smarter?

Rapid technology changes are influencing every aspect of the business; IT infrastructure of a firm is no different. Technologies like Big data, IoT, Mobile, while enabling firms with various business capabilities and creating tremendous value also are over straining the firm’s IT Infrastructure. Today’s IT infrastructure appears to have reached an inflection point and the 

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How to use AI for Software Development Effort Estimation?

Software development involves a number of interrelated factors which affect development effort and productivity. Since many of these relationships are not well understood, accurate estimation of software development time and effort is a difficult problem. The most significant activity in software development is to develop projects within confined time and budget. As accuracy plays a 

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Artificial Intelligence and the future it holds for the IT Industry

After decades of speculation and justifiable anxiety about the social implications for humankind, the AI (artificial intelligence) era is finally here. In the past two decades, we have seen chess grandmasters and the best jeopardy players in the world alike fall in competition to computers. The potential of Artificial Intelligence is enormous and in fact 

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The Sixth Wave of Innovation: Cognitive Computing in Insurance

The very nature of innovation is rapid change. Combined with market demands and supported by an environment fertile for change, the path is paved for disruptive technologies. The past 75 years have seen six waves of technology innovation, beginning with the era of mainframes back in the 60’s, followed by the advent of personal computers. 

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Artificial Intelligence solution framework for investment advice

Investment banks are evaluating possible avenues for efficiency improvement either through artificial intelligence (AI) or through automation. In fact Robo Advisors are disrupting the traditional wealth management model by attracting large number of millennial customers by providing a differentiated Investment management experience. At the same time new regulations are being introduced to ensure safety of 

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Artificial Intelligence: There’s Still Hope for the Human Race

Growing concern that robots will take over the world and render humans useless exaggerate the threat at hand. Has cognitive computing and robots rapidly evolved? Yes. Computers can now challenge humans intellectually and automate tasks previously thought impossible. While this sounds an alarm for many people, to me it’s exciting. Why fear robots that just 

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The Death of the Screen – From Mobile to “No Mobile”

Smartphones have been a trending topic of discussion, specifically around whether they will exist within five years, or if mobile technology will be replaced with Artificial Intelligence. With smartphones as a necessity today, it is interesting to think that they will be a thing of the past by 2021. So how will this all transpire? 

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The rise of Virtual Agents: Time to automate, personalize and contextualize customer experience

In most industries, there has been a lot of talk about Virtual Agents and their role in enhancing customer service. Virtual agents are software programs that enable automated, contextual conversations with customers. At a basic level, Artificial Intelligence (AI) driven Virtual Agents can be suitable alternatives to staff taking up customer calls. No doubt these 

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