How AI Will Push Fintech and Banking to New Heights in 2021, says Peter Jobes. The technology is poised to revolutionize how we handle money in the near future. The greater relationship between AI and fintech can help the financial industry combat fraud more efficiently, deliver better customer experiences and utilize a greater level of convenience for customers. The coming years will see these burgeoning technologies refined further into intuitive insights that are better positioned to generate value among investors. Artificial intelligence champions finance on-demand, and with more arrivals into the world of investing, the value that robo-advisors bring in personalized portfolio management and product recommendations is highly sought after.

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Peter Jobes Hacker Noon profile picture

@peter-jobesPeter Jobes

Peter Jobes is a tech & blockchain writer. Featured in VentureBeat.

AI has contributed heavily to the transformation of financial services in recent years and the technology is poised to revolutionize how we handle money in the near future.

The ability to instantly analyze huge volumes of data to discover new insights and information is driving AI adoption within businesses to build new efficiencies and to spot new patterns to improve the decision-making process.

Consumers may not even recognize the countless ways in which artificial intelligence is already being utilized behind the scenes by businesses on a daily basis, but as many of us continue to become interconnected and dependent on digital processes, its use is likely to become more prevalent over time.

The greater relationship between AI and fintech can help the financial industry combat fraud more efficiently, deliver better customer experiences and utilize a greater level of convenience for customers.

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(Image: Mordor Intelligence)

As we can see from the image above, AI applications within fintech are set to grow at varying rates over the course of the first half of the decade, with Asia set to develop fastest. However, Europe and North America will also see significant growth over the coming years as AI technology continues to revolutionize finance.

Let’s take a deeper look at the roles AI will play in pushing fintech to new heights over the course of 2021 and beyond:

Refinement of Robo-Advisors

Artificial intelligence champions finance on-demand, and with more arrivals into the world of investing than ever before in the wake of the COVID-19 pandemic, the value that robo-advisors bring in personalized portfolio management and…

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Source: hackernoon.com