Artificial Intelligence in Finance Data Analysis and Insights Predictive Analysis Customer service and support

1. Artificial Intelligence (AI)
and Finance
DR. A. PRABAHARAN
PROFESSOR & RESEARCH DIRECTOR
PUBLIC ACTION
www.indopraba.blogspot.com
1

2. AI in Finance
 Artificial Intelligence (AI) plays a
significant role in various aspects of
business, transforming how companies
operate, make decisions, and interact
with customers.
 Here are several ways AI is used in
business
www.indopraba.blogspot.com
2

3. Data Analysis and Insights
 AI helps businesses analyze large volumes of data quickly and
efficiently.
 This enables organizations to derive valuable insights, identify
patterns, and make data-driven decisions
 AI transforms financial data analysis by enabling the processing
of vast datasets beyond human capability. It provides predictive
analytics for market trends, offering insights that drive informed
decision-making.
 AI enhances accuracy and efficiency in financial forecasting and
risk assessment
www.indopraba.blogspot.com
3

4. Predictive Analysis
AI algorithms can predict future trends and behaviors based on historical
data.
This helps businesses anticipate market changes, customer preferences,
and potential risks, allowing for proactive decision-making
Predictive analytics is a powerful data analytics technique that uses big
data mining, statistics, modeling, machine learning, and artificial
intelligence to analyze large volumes of data and make predictions
about future events or behaviors
www.indopraba.blogspot.com
4

5. Customer Service and Support
 AI-powered chatbots and virtual assistants enhance
customer service by providing instant responses to
inquiries, resolving common issues, and offering
personalized recommendations.
 This improves customer satisfaction and frees up
human resources for more complex tasks.
 AI can significantly improve and scale customer service
in banking with better self-service tools that handle
more of your customers' questions.
 AI-powered self-service enables banks to resolve high
volumes of inquiries more efficiently, enhancing
customer satisfaction and reducing operational costs
www.indopraba.blogspot.com
5

6. Sales and Marketing
 AI helps businesses optimize their sales and
marketing efforts through predictive lead scoring,
personalized marketing campaigns, and customer
segmentation.
 This increases the effectiveness of outreach and
improves conversion rates
 Artificial intelligence (AI) is rapidly transforming
the finance industry, and marketing is no
exception.
 AI-powered tools can help you to better
understand your customers, create more
personalized content, and deliver more effective
marketing campaigns
www.indopraba.blogspot.com
6

7. Supply Chain Optimization
 .
www.indopraba.blogspot.com
7
AI is used to optimize supply chain operations by predicting
demand, improving inventory management, and enhancing
logistics and transportation efficiency.
This reduces costs and ensures a more streamlined and responsive
supply chain
AI-lead supply chain optimization software amplifies important
decisions by using cognitive predictions and recommendations on
optimal actions.
This can help enhance overall supply chain performance.
It also uncovers possible implications across various scenarios in
terms of time, cost, and revenue

8. Fraud Detection and Security
 AI algorithms can identify patterns indicative of fraudulent activities
in real-time, enhancing security measures in financial transactions,
online platforms, and other sensitive areas.
 This helps businesses protect themselves and their customers from
potential threats.
 AI is particularly adept at detecting patterns and anomalies that
could indicate fraudulent activity.
 By continuously monitoring transactions in real-time, AI systems can
identify unusual patterns and flag them for review or automatically
block suspicious transactions
www.indopraba.blogspot.com
8

9. Human Resources and Recruitment
 AI streamlines the recruitment process by automating resume screening,
identifying suitable candidates, and even conducting initial interviews.
 This speeds up the hiring process and allows HR professionals to focus on
more strategic aspects.
 ou can feed AI software the ideal qualities needed for an advertised role.
Then, it scans and evaluates each applicant’s resume and cover letter to
identify the candidates with the highest potential.
 This automation saves countless hours (if not days) in reading individual
resumes. Now, let’s take a look at an example in action
www.indopraba.blogspot.com
9

10. Process Automation
 Businesses leverage AI to automate routine and repetitive tasks,
increasing efficiency and reducing the likelihood of errors.
 This includes automating document processing, data entry, and other
manual tasks.
 AI and ML have brought a dramatic change in the finance industry.
From traders to investors and banks to financial companies, every
business entity today leverages the powerful capabilities of artificial
intelligence and machine learning in their financial services &
strategies.
 The emergence of AI and ML in finance is empowering businesses and
users to take advantage of emerging technology trends and generate
better ROI from their investments.
www.indopraba.blogspot.com
10

11. End Note
 As AI continues to evolve, businesses are likely to find new
and innovative ways to leverage its capabilities to gain a
competitive edge and drive growth.
 Artificial intelligence and machine learning are advanced-
level computational programming. They enable a system of
software applications with automated and human-like
ability to do various tasks.
 So, when AI and ML in finance are implemented, they
automate several repetitive tasks and strengthen financial
processes and operations with high-end features.
www.indopraba.blogspot.com
11

12. www.indopraba.blogspot.com