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Artificial Intelligence in the Banking Sector

Posted by Anna Mielczarek on 18-Oct-2018 07:30:00

The pace at which companies are investing in artificial intelligence (AI) continues to gain momentum and the financial sector is no exception. In fact, according to Business Insider report ‘AI is one of the most commonly referenced terms by financial institutions (FIs) and payments firms when describing their vision for the future banking sector as it can be applied to almost every area of financial services.’

But that’s not all! As stated by global management consultancy Accenture, banks that invest in AI and human-machine collaboration tools could boost their revenue by over a third (34%) by 2022.

Moreover, AI is considered one of the most important disruptive technologies for today’s banks, as a recent PwC survey revealed that 72% of senior management see AI and machine learning (ML) as key sources of competitive advantage. The same survey also highlighted that 52% of firms in the financial services sector are already making substantial commitments to AI, with 66% projecting significant investments by 2020.

So, it seems that these numbers speak for themselves – when it comes to financial services AI is a must!

But how exactly AI can help banks improve their operations and bring them closer to their customers?

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Topics: Digital Transformation, Emerging Technology, artificial intelligence, Finance, AI

Our First Look at Commercial Automation... 

Posted by Fran Geddes on 30-Jan-2018 13:05:08

Last week, we got our first glimpse of one of the autonomous vehicles set to be introduced later this year. Dubbed ‘the Tesla of the Canals’, Port Liner’s barges can carry 24 containers weighing up to 425 tonnes from ports in Amsterdam, Antwerp and Rotterdam.

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Topics: automation, artificial intelligence

It's finally here... the HomePod

Posted by Fran Geddes on 25-Jan-2018 12:12:33

It is finally here. On the 23rd of January, Apple announced the release date for the HomePod, around 8 months after its original debut. For Apple users, those who missed out on a Christmas smart speaker, or just avid Apple fans, this might be great news, but it is hard to get too excited about a fairly old concept within technology.

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Topics: Apple, AI, artificial intelligence

Can Technology Transform Education?

Posted by Fran Geddes on 23-Jan-2018 11:45:18

In the first 10 months of 2017, $8.15 billion was invested in edtech companies. And according to Global Report, EdTech spending is expected to rise to $252bn by 2020. Whilst some may be sceptical of introducing technology into education, the opportunities and improvements it could bring to education are at least something to trial. 75% of teachers find their workload unmanageable, therefore edtech could provide some much-needed relief - assisting teachers, NOT replacing them.

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Topics: artificial intelligence, Emerging Technology, AI, AR and VR, Digital Transformation, Disruption and Change

What The CES 2018 Conference Taught Us About Smart Homes

Posted by Fran Geddes on 11-Jan-2018 14:32:05

Smart devices have already begun to take over our homes. With incentives of cost-effectiveness, improvements in efficiency and a greener lifestyle, it’s easy to see why. This week at CES, one of the largest consumer technology trade shows in the world, many major tech companies showcased their smart home products, giving us a hopeful insight into our future lifestyles. Here’s the emerging technologies we can expect in our future homes…

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Topics: artificial intelligence, Emerging Technology, General Tech News

When Will We See Truly Intelligent Transport?

Posted by Fran Geddes on 09-Jan-2018 09:33:06

Living in the UK, especially within built-up areas - like cities, means you have a wide range of transport methods available to you. The transport industry has always been fairly innovative when it comes to onboarding new technologies, aiming to make the public transport experience as quick, easy and painless as possible for example, the introduction of the Oyster Card. But, with the UK roads being amongst the most congested in Europe, we have a way to go until we are truly using intelligent transport.

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Topics: AI, artificial intelligence, travel, Digital Transformation, Emerging Technology, transport