What are the applications of artificial intelligence in the field of financial technology

As an entry-level player in the former insurance industry, I barely have to answer a question.

Everyone should have received customer service in terms of insurance renewal and claims**, right? You may not believe it, most insurance customer service** is now a robot talking to you, not a real person! Isn't it shocking, after all, it really doesn't sound like a robot, does it?

That's right, now the application of artificial intelligence voice has been able to do very natural, very flexible, like our company has used the intelligent customer service software of CICC Zhihui before, in the process of robot customer service, what questions the customer asks, the customer service robot can use artificial intelligence speech recognition technology to "understand" the customer's words, and then find the answer from the intelligent knowledge base, and finally through the voice engine technology, the "say" to you, moreover, these are completed in a very short period of time, There is no difference in the rhythm and timbre of talking to a real person.

Now artificial intelligence has been widely used in the financial and insurance industry, especially in the field of voice customer service, and I believe that the entry scope will be wider and wider in the future.

Chartered Global Financial Technologist Application Course] The Role and Value of Artificial Intelligence (AI) in FinTech.

The applications of AI in the financial sector are as follows:

1.Intelligent customer service.

Intelligent customer service is a very vivid application of artificial intelligence in the financial field, which is divided into two aspects: online and offline.

The online part refers to the intelligent customer service. **Intelligent customer service is based on speech recognition, natural language processing and other technologies to realize remote customer business consultation and handling, so that customers can get timely answers, reduce manual service pressure and operating costs, and realize the form of web customer service, WeChat, and APP.

The offline part refers to the intelligent customer service bot in the bank lobby. It uses speech recognition, image recognition, speech synthesis, natural language understanding and other technologies, which largely frees the lobby manager from complicated work, and at the same time saves business processing time, which is convenient and fast.

2.Biometrics.

Biometrics refers to the identification of personal identity through computers, biosensors and other technical means, using the inherent physiological and behavioral characteristics of the human body, which has obvious advantages of security and confidentiality. At present, there are three types of biometric technologies commonly used in the financial field: face recognition, fingerprint recognition and iris recognition.

Face recognition is to extract the face image of the verifier according to the features, and then compare it with the face image in the database to achieve the effect of verification.

Fingerprint recognition is by extracting the authenticator's fingerprint and comparing it with the fingerprint in the database, such as mobile banking, Alipay, etc.

Iris recognition is based on the iris image in the human eye, and is generally used in the core areas of the bank, such as vaults, data centers, etc.

3.Robo-advisors.

The application of robo-advisors is mainly divided into two categories according to different objects, which are aimed at ordinary customers and investment institutions.

For ordinary customers, the robo-advisory system can collect indicators such as customers' age, consumption trajectory, economic foundation, and risk preference, and use machine learning to build mathematical models to provide customers with personalized financial services, which has the advantage of being more objective and reliable.

For investment institutions, through machine learning and neural network technology, the computer can learn financial data, and at the same time, comprehensively analyze the relationship between the upstream and downstream links of the enterprise and the competition with other companies, take the initiative to discover risks, and adjust investment strategies in a timely manner.

In finance, content shouting in the financial industry, such as customer acquisition, risk control, identity recognition, and customer service, can all be changed by using artificial intelligence.

Taking easy-to-understand customer service as an example, traditional financial customer service is manual, but through artificial intelligence technology and natural language processing, customer problems can be analyzed and accurate replies can be given through algorithms, which greatly saves the cost of financial services.

In this regard, traditional financial institutions do not all have such technical strength, but many large Internet companies have combined their own technological advantages to carry out technical research and development, and export the research and development results to financial institutions, forming a virtuous circle. For example, it has begun to use natural language processing technology, which has been the envy of natural language processing for many years, to empower traditional financial institutions. Artificial intelligence is used to better understand user intent and solve users' questions in the form of multiple rounds of conversations, which greatly improves the user experience.

The vigorous development and in-depth application of financial technology is an important cornerstone for promoting the construction of inclusive finance, and it is also an important engine for the revitalization and development of rural economy.

With core technologies such as artificial intelligence, big data, and biometrics, Wisdom Eye starts from the service platform of Hunan Rural Credit Cooperatives to build a "finance +" ecology. Relying on intelligent terminal products, the bank counter business is extended to village committees, communities, supply and marketing cooperatives, shopping malls, supermarkets or community banks. On the one hand, it realizes the business functions of financial business such as deposit and withdrawal, inquiry, transfer, and loan; On the other hand, it realizes convenient services such as living payment, government affairs handling, social security business, medical insurance business, and policy inquiry, and realizes the function of finance +.

The 7 24-hour full-scene "finance +" one-stop comprehensive service model created by Wisdom Eye Financial Smart Terminal will better serve urban and rural residents, better expand the business channels of banks, and improve the coverage, availability and satisfaction of financial services.

1.Quantitative trading. This is the most fascinating direction in fintech, but it is also the most mysterious.

Who doesn't want an AI like Alpha Go that can defeat Warren Buffett and help them make a fortune and reach the pinnacle of life? However, this is also a relatively unreliable direction in academic research, because the asset data itself has the characteristics of low signal-to-noise ratio, high volatility, and strong randomness, and it is a very difficult job to dig out the real laws and find out the valuable factors.

2.Robo-advisors, which provide users with personalized investment and financial advice, should be similar to intelligent customer service in cognition. The application prospect is also good, but a more complex and systematic problem involves personalized recommendations, dialogue systems, reading comprehension, etc. in the field of AI.

The content comes from the user: professional and good information.

At present, China's economic development is in a critical period of transformation of old and new kinetic energy, and artificial intelligence is of great significance for China to seize the commanding heights of science and technology, promote supply-side structural reform, achieve a new leap in social productivity, and improve comprehensive national strength and international competitiveness. In July 2017, the company released the "New Generation Artificial Intelligence Development Plan", proposing to accelerate the intelligent upgrading of the financial industry through intelligent finance; Through the establishment of a financial big data system, improve the ability of financial data processing and understanding; innovate intelligent financial products and services, and develop new financial formats; Encourage the financial industry to apply technologies and equipment such as intelligent customer service and intelligent monitoring, and establish an intelligent early warning and prevention and control system for financial risks. Artificial intelligence will have a profound impact on the transformation and upgrading of China's financial industry and the enhancement of competitiveness.

Web Overview of Artificial Intelligence Definition Artificial intelligence (AI) is an emerging science that studies theories, methods, and techniques that use computer simulations to emulate, extend, and extend human intelligence. As an important branch of computer science, the main goal of AI development is to enable computers.