The topic of artificial intelligence (AI) often appears to the public in the form of the most spectacular and tangible applications possible. For example, IBM has recently developed a “debating machine” called Project Debater. The system is able to respond to opposing arguments in a discussion and to react accordingly.
Real application scenarios of AI may have a slightly lower show effect on the surface. On closer inspection, however, they are often much more exciting and able to change previously familiar work processes.
Big Data in securities trading
birkle IT is working for the financial sector clients to implement AI solutions that support the Compliance Officer. Until now, it has been nearly impossible to achieve precise transparency in securities trading as the counterparty of the transaction usually remains anonymous. While human compliance officers can take individual samples to identify conspicuous transactions, AI gives us completely new opportunities in this segment with expanded data. The machine is not only able to check all the data instead of individual samples – but it also learns every day and with every processed data. The more output data is available, the better. Technology that creates completely new opportunities in the face of big data scenarios can be integrated into existing business intelligence solutions.
Combating crime and terrorism
The application possibilities of such AI systems go so far that artificial intelligence can be used in counter-terrorism and in the detection of criminal activity. AI recognizes data patterns and correlations that remain completely invisible to trained experts. Thus, the risk assessment no longer refers to past correlations, but to a certain extent includes a direct view of the future.
What can AI do for your company?
Whether compliance or risk management: The possible application scenarios for AI solutions are diverse, especially in the finance and insurance industry. AI has immense potential optimizing and securing business processes while expanding competitive advantages.
What can AI do for you and your business model? If you have further questions or would like to consult with our experts, contact us via email.