Blockchain May Play Crucial Role in Artificial Intelligence Development, Regulation

The biggest threat for our future, according to Elon Musk, is the development of artificial intelligence (AI). As Musk recently pointed out: “I think we should be very careful about artificial intelligence. If I had to guess at what our biggest existential threat is, it’s probably that. So we need to be very careful. I’m 

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Artificial Intelligence Threats and Promises

Artificial intelligence (AI) might evolve to the point where humans are no longer in control. Facebook was recently forced to shut down an experiment after two artificial intelligence programs began chatting to each other in their own language. Researchers at the Facebook AI Research Lab (FAIR) found the chatbots had deviated from their script and 

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Application of Artificial Intelligence in Payment Processing

Artificial Intelligence (AI) is here for quite some time and is successfully being used in banking applications like Fraud Analysis and Customer Risk Scoring but with a limited scope. The prominence of AI in decision making has augmented with the advent of data explosion, big data analysis and internet penetration. Chatbots, a prominent development in 

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How Technology is changing the future of banking in India

In the present era of global, interconnected financial systems, a small ripple in one nook and corner of the world can probably create a shock wave in the entire economic ecosystem. This has led to increased scrutiny and more stringent and intricate regulatory requisites for the financial institutions. Regulators have not only shortened the time 

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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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