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How To Improve The Financial Services Industry With Artificial Intelligence And Blockchain

Blockchain and artificial intelligence (AI) solve different tasks, but they can work together to improve many processes in the financial services industry, from customer service to loan application reviews and payment processing.

Adopting AI and blockchain technologies can make your financial sector smarter and help it to perform more effectively. Blockchains can provide transparency and data aggregation; they also enforce contract terms. Meanwhile, AI can automate decision-making and improve internal bank processes.

AI and blockchain technology can revolutionize critical processes in the financial services industry. However, these technologies have to be carefully calibrated and integrated with existing operations. The low level of dependence between blockchain and AI technologies is helpful, as you can begin by introducing only one of these technologies to your banking processes. This will allow you to focus on the most important things, such as creating a clear road map, developing an MVP and introducing your product to the market faster than your competitors.

The original article can be found here.

To support AI application in the world society including financial services, Artificial Intelligence World Society Innovation Network (AIWS.net) created AIWS Young Leaders program including Young Leaders and Experts from Australia, Austria, Belgium, Britain, Canada, Denmark, Estonia, France, Finland, Germany, Greece, India, Italy, Japan, Latvia, Netherlands, New Zealand, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United States, and Vietnam.