Artificial Intelligence in the Banking Industry: From Data Analysis to Semantic Analysis

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13 July 2016
Hua Zhang

Abstract

At present, artificial Intelligence (AI) technologies are increasingly being applied in the banking industry, mainly toward knowledge management, identity authentication, market analysis, customer relationship management, anti-money laundering, and risk control.

Artificial intelligence programs can analyze all such knowledge and provide the corresponding knowledge responses to bank employees and customers. In the marketing of banks, AI can identify the characteristics of high-yield customers by mining existing data. In risk management, large amounts of data are involved in the fields of risk management, anti-fraud and anti-money laundering. In the report Application of Artificial Intelligence in the Banking Industry, Celent examines the AI applications, vendor profiles, and application trends.

“With their ability to fully understand the market, customers, and regulatory changes through data, banks are in the best position to apply these technologies, for example in risk control, credit analysis, market tracking, and customer demographic mining,” says Hua Zhang, an analyst with Celent’s Asian Financial Services practice and author of the report.

This 18-page report contains four figures and four tables.

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