Manhattan, NY, USA, September 14, 2023 – If you’re not investing in AI, or at least using AI to help you with your investments, then your portfolio is missing out. Revenue from the Artificial Intelligence sector is predicted to reach in excess of $120 billion by the end of next year. To put that into perspective, that kind of revenue is roughly in line with the clothing resale market, the e-bike market, and the pet food market. It’s a wide spread to compare to, but all products that the world has accepted readily and wouldn’t be the same without. AI has already made its mark in the investing market and it’s time to get on board before you risk getting left behind.
These are some of the most fascinating and innovative uses of AI that are sure to change the investing market.
AI Helps to Reduce Fraudulent Behavior
The first use of AI that we’ll begin with is its application in reducing fraudulent behaviour online. There are plenty of different companies that are putting AI to use in this way, but banks and online casinos are two areas where it is most prevalent.
Starting with online casinos, AI is transforming how companies track down and eliminate fraudulent behaviours. Casino sites like Wildz use AI to scan enormous sets of data and look for inconsistencies in the patterns that people usually play in. If there is fraudulent activity taking place on the account, then they might find a player making much larger bets than normal, or attempting to take out a large amount of money from their gaming wallet. AI can spot this and instantaneously put a temporary block on the account and get in touch with the holder to confirm what is happening. If it’s a false positive then so much the better, but if it’s a real case of attempted hacking, then the customer could have been saved thousands of dollars.
Banks use this technology in much the same way. They allow AI to scan through banking transactions and flag any that seem out of character. AI excels at this because it can scan data much more quickly and far more thoroughly than a human can. Being able to reallocate humans from data scanning to other positions in the bank frees up time and provides a better service for the customer.
AI Helps to Identify Vulnerable Customers
Recently NICE received an award for their pioneering use of AI. The company has trained AI to spot customers who exhibit vulnerable behaviours, with the aim of companies being able to single them out and give them additional help. AI uses behavioural analytics to spot a set of behaviours and flags this to the company that is using the software. Whilst this might seem like a small problem, around 47% of adults in the UK exhibit at least one of these behaviours. AI does a particularly good job at this compared to humans because it looks for incredibly subtle cues, picking up on them instantaneously. Having this headstart gives those in customer-facing roles a better chance at correctly addressing the additional needs of any customers.
AI Helps to Align Portfolios with Beliefs
Finally, not only are there companies that you should be investing in that have implemented AI in powerful ways, but AI can also be a tool to directly help your portfolio. A recent report from Morgan Stanley found that AI can be helpful when aligning ESG factors with the values of your portfolio. This is possible because a handful of AI tools have been created to help out sustainability focused investors. As we’ve already discussed, AI has incredible powers when it comes to data analysis, making it perfect for assessing and estimating a company’s ESG performance. Using this information it can suggest beneficial investments, as well as warning investors away from companies that don’t fit their parameters.
Contact Info:
Name: Isha Gupta
Company: Appinventiv
Phone: + 1 – 646 – 585 – 0501
Email: isha.gupta@appinventiv.com
Website: https://appinventiv.com/
Address: 79, Madison Ave, Manhattan, NY 10001, USA
