How AI will affect the financial industry in 2018

By | March 5, 2018
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woman looking at cell phone screen with financial info

(Clinc)

Over the last few years, artificial intelligence has helped push the envelope in terms of technological advancements in the financial industry. For example, consumers can use facial recognition to log in to financial apps and use voice commands to check their balances. In an article on Forbes.comJason Mars, a computer science professor at U-M and the CEO of Clinc, discusses how artificial intelligence will evolve in 2018 and is set to disrupt the industry even further. Using deep neural networks, Clinc has developed a conversational AI platform for financial institutions that supports the same natural language flow that you would have with a personal banker. “We are going to continue to see more technology experts innovating in the banking space,” Mars explained. “You’re going to get those deep computer science minds applying their talent to the financial space. You’re going to see tons more innovation and advancement.”