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Blogs

Artificial Intelligence
Impact of AI on Banking & Insurance (2 Exciting Use Cases)
Digital transformation is taking the financial industry by storm. Artificial Intelligence and Machine Learning are the red-hot technologies transforming the sector, reeling under the pressure of managing customers and their data. Finance is a process-heavy industry and produces a lot of data. The industry has struggled to improve its data management over the years, yet failed due to lack of systems and tools. The real challenge is managing the data with the current systems, tools, and processes. Now, the invasion of AI and ML has enabled Finance companies to improve their end-to-end processes and data management. And the technologies are helping greatly improve the Finance company’s performance, efficiency, and customer satisfaction. With many benefits to offer, companies are heavily dependent on these futuristic technologies. Here are some of the challenges the industry faces daily. Managing customer data Adjusting strategy to improve customer satisfaction Making quick and decisions Enticing customers with offers and discounts Engaging customers Serving customers Risk management Detecting fraudulent activities Improving customer retention rate Enhancing customer satisfaction, etc. Consider any finance-based company – Banks, Insurance, etc., that faces the above-stated challenges daily and looks for solutions to negate them. Before diving deep into understanding the impact of AI/ML in the Finance Industry, let’s throw light on their growth across different verticals.
Gengarajan PV
January 19, 2023
5
min read
Artificial Intelligence
The Impact of AI-Powered Virtual Assistants on Enterprise Mobile Applications
In today’s fast-paced business environment, mobile applications have become an essential tool for enterprises to streamline operations and enhance productivity. With the rapid advancements in artificial intelligence (AI) technology, the integration of AI-powered virtual assistants into these applications has a revolutionary impact. By leveraging machine learning algorithms and natural language processing capabilities, AI-powered virtual assistants, such as Siri, Alexa, or Google Assistant, are transforming the way employees interact with enterprise mobile applications. These virtual assistants can perform a wide range of tasks, from scheduling meetings and answering queries to analyzing data and providing personalized recommendations. The impact of AI-powered virtual assistants on enterprise mobile applications is multi-faceted. Not only do they provide a more intuitive and efficient user experience, but they also enable employees to access information and complete tasks more quickly. Moreover, these virtual assistants can gather valuable insights from user interactions, allowing enterprises to make data-driven decisions and optimize their mobile applications accordingly. With the potential to revolutionize productivity, AI-powered virtual assistants are poised to be a game-changer for enterprise mobile applications. As businesses continue to embrace these technologies, the future of work is bound to become more streamlined and efficient.
Nandhakumar Sundararaj
February 8, 2024
5
min read
Artificial Intelligence
The Role of AI in Software Testing and QA
In today’s dynamic digital landscape, it’s becoming increasingly crucial for businesses to deliver innovative but also reliable and bug-free software. Manual software testing can be time-consuming, expensive, and prone to human error. This is where the role of Artificial Intelligence (AI) comes into play. With its ability to analyze vast amounts of data, identify patterns, and learn from past experiences, AI is revolutionizing the field of software testing and Quality Assurance (QA). By utilizing AI-powered tools and techniques, companies can automate various aspects of software testing, such as test case generation, bug detection, and performance monitoring. This speeds up the testing process and enhances its accuracy, efficiency, and effectiveness. AI can simulate real-world scenarios, uncover potential vulnerabilities, and provide insights that help developers improve their software before it reaches end-users. One of the primary benefits of using AI in software testing and QA is the ability to scale the testing process. Traditional manual testing methods can quickly become overwhelmed as the complexity and size of software applications grow. AI-powered systems, on the other hand, can handle large volumes of test cases, data, and scenarios, ensuring that every aspect of the software is thoroughly tested and validated. This leads to a significant reduction in the time and resources required for testing, ultimately accelerating the software development lifecycle and time-to-market for new products and updates.
Gengarajan PV
July 25, 2024
5
min read