Will AI be human soon?

AI is a set of theories and techniques used to create machines that can simulate human intelligence. “Machine learning” is one of these AI techniques and is used to extract knowledge from data. “Deep learning” is a subset of “machine learning” that corresponds to a more complex system and uses neural networks.

In 2022, we are thinking more about having responsible AI, ethical AI and explainable AI (XAI). With Covid and the massive use of virtual solutions, some of the hot topics include ensuring cybersecurity and using AI with virtual reality.

We are also talking about “low code and no code”, which offer simple interfaces that can be used by experts and non-experts alike, to facilitate the use of AI and its proliferation, and to allow experts to focus on more complex problems.

AI has helped banks improve their statistical models by analysing more data more quickly. There is no question that AI has a strong presence in fintechs, the start-ups of the financial sector. It eases the workload for some of the daily tasks performed by bank staff. For example, AI has enabled banks to use predictive models to anticipate customers’ needs and win their loyalty. With descriptive models, banks are able to better categorise and understand customer profiles and transactions. In addition, AI has been used to create new currencies, such as bitcoin, and to transform the financial sector.

In the future, AI will enable banks to communicate with customers in real time using more complex channels such as audio, video and virtual reality. It will also be used to understand customer communications automatically through natural language processing. Additionally, AI will facilitate compliance with certain regulatory constraints, such as fraud detection, and ensure respect for the environment. AI will also allow for better risk control when managing loans and investments.