How AI and ML are Reshaping the Fintech Industry in 2024
Sumedha Sen
One of the most critical applications of AI and ML in Fintech is in fraud detection and prevention.
AI and ML are analyzing customer data, including spending habits, income, and financial goals to provide tailored financial advice and product recommendations.
AI and ML can analyze a broader range of data, including social media activity, transaction history, and even utility payments, to assess creditworthiness.
AI-powered chatbots and virtual assistants are now capable of handling a wide range of customer inquiries, from account information to transaction details.
Predictive analytics, powered by AI and ML, is becoming an essential tool for decision-making in the fintech industry.