Neural networks that are based on multi-layered neuron structures that mimic the human brain along with highly sophisticated algorithm innovation are part of the latest thinking in artificial intelligence (AI) that’s sweeping the financial services industry. Expected to create opportunities to automate ever more complex processes and decisions with the highest possible degree of accuracy,…
The financial services industry is adopting artificial intelligence (AI) at an unprecedented pace. And that’s understandable. AI and machine learning are proving to be vital enablers of the digital transformation financial services firms should undertake to realize greater efficiencies, improve the customer experience and revitalize their growth. Now that machine learning is becoming mainstream, there’s…
A recent Accenture study indicates insurers recognize the many benefits of cloud adoption and are ready to get started, as I detailed in my previous blog post. That’s very good news! However, readiness is only one part of the equation. Effectively migrating to the cloud and reaping the benefits requires thoughtful planning and the right…
While the insurance industry is not known for being a technology pioneer and many insurers have been slow to embrace cloud technology, it’s clear they see the writing on the wall. In the past, key barriers to cloud adoption have been complexity in migrating legacy systems combined with privacy and security concerns. However, many insurers…
In the post-digital era, when simply using digital technology is no longer a differentiator for businesses, the following five trends offer a view of the near future. For each trend, we offer several questions to help you assess the potential opportunities for your organization. DARQ Power: Understanding the DNA of DARQ New technologies are catalysts…
In the new application programming interfaces (API)-driven financial services environment, banks that adopt an API architecture can gain a significant competitive advantage. Those that don’t could quickly fall behind the competition. Though the premise might seem simple, effective API management isn’t simply a matter of plugging in new technology. It requires a thoughtful, strategic approach.…
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