The age of artificial intelligence arrives Five financial scenarios are being hit

Source：Updated：2017-08-07 10:49:31

In recent years, artificial intelligence (AI) technology is gradually penetrating into financial products and services, domestic and foreign financial institutions have send financial technology (Fintech) : foreign financial industry is the introduction of artificial intelligence technology, jpmorgan chase and Goldman sachs are said to large-scale investment in the field of artificial intelligence; The four major Banks in China are holding hands with Internet companies to open smart financial cooperation. 
 
As the primary form of financial science and technology, the rise of Internet finance mainly benefits from the combination of Internet technology and finance business. Based on the consumption, entertainment and other life scenarios, build the convenient service platform, and integrate the financial business into the consumption behavior of the users. At the same time, it also forces commercial Banks and other financial institutions to continuously improve the quality and efficiency of services along the lines of cost reduction and efficiency. Today, more cutting-edge technologies, such as big data, artificial intelligence, cloud computing and blockchain, are being upgraded. 
 
Compared with Internet technology, financial technology has greater development potential. In particular, the breakthrough development of neural network, made it possible to deep learning, and made a surprising preliminary effect (such as a dog on the go el method) challenge human contestants landslide victory in war, in the future is expected to solve the problem of some pain points in the financial sector. 
 
The rapid development of artificial intelligence enables the machine to simulate human function to a certain extent and serve customers in batches and more individualized. For the financial industry, the front-end can make the service more personalized and enhance the customer experience. The middle end can support the decision-making of various kinds of financial transactions and analysis, making decision making more intelligent; The back-end is used for risk identification and prevention and control, making management more refined. 
 
Below, the author gives a detailed description of the typical application of artificial intelligence in the financial field, and I hope to help you. 
 
Application scenario 1: credit and risk control 
 
In recent years, a large number of domestic P2P and cash loans have emerged, indicating that the market demand for individual microfinance is huge. In the past, for the small loan users of this kind of loan, it was simple to rely on the local people to carry out the field letter. Nowadays, based on big data and artificial intelligence technology, intelligent credit collection and approval can be realized, which can greatly improve work efficiency. Access to user multidimensional data through multiple channels, such as call records, text messaging, purchasing history, and relevant information on social networks; Then, a variety of features are extracted from the information to build the model, and then the user can have a multi-dimensional portrait. Finally, the user's personal credit is evaluated according to the model score. In the same way, it can be solved by big data collection letter for the difficult financing of small and medium sized enterprises in the market. 
 
Relative to the reference, in risk control, credit to identify the lender before the authenticity of information, but also to identify its repayment willingness and repayment ability, by monitoring the behavior of the lender in loan data timely discovery is unusual, post-loan credit score supplement with feedback data. In this process, the use of user data accumulation and intelligent artificial intelligence technology to establish effective risk control system is the core ability, directly depends on a platform can be sustained operating healthily. 
 
Application scenario 2: anti-fraud 
 
Financial security is the cornerstone of the maintenance of financial order. Unlike the virtual social network, financial users need to verify the authenticity of the identity, which may involve techniques such as face recognition, speech recognition, fingerprint identification and iris recognition. Artificial intelligence tends to perform better in this area than we are in humans, and not only can shorten the recognition time, but also reduce the recognition error rate. Nowadays, more and more artificial intelligence applications appear in real life, such as fingerprint payment, face scanning, etc. 
The age of artificial intelligence arrives! Five financial scenarios are being hit 
In addition, the artificial intelligence in the aspect of network fraud also plays a huge role, the machine can learn the knowledge from the vast amounts of transaction data and rules, find exceptions, such as to prevent the stolen credit card, false trading, malicious cash behavior such as cheating, trash, registration, marketing, and institutions for the user to provide timely and reliable security. 
 
Application scenario three: intelligent investment 
 
Smart investment is to build a portfolio between multiple markets and big asset classes to spread risk and pursue long-term benefits. 
 
Differ with traditional way, intelligent interest can be combined with modern portfolio theory and investor preference for investors to provide advice, to speed up the release of the "long tail" of the market in financial investment, has the characteristics of low commissions and information transparency. More colloquial, smart money is actually making private Banks' services online intelligently, with a wider range of common people. 
The age of artificial intelligence arrives! Five financial scenarios are being hit 
At present, the intelligent investment platform has appeared in the domestic market. In December 2016, China merchants bank, Capricorn, was officially launched, which is the first intelligent investment service in the domestic banking industry. According to introducing, Capricorn wisdom for using machine learning algorithms, in China many years of business experience, on the basis of the constructed on the basis of public funds, global asset allocation "intelligent fund portfolio service". After the customer select the term and risk investment profit, Capricorn of cast will according to the customer to choose its own goals - earnings "requirement, build fund portfolios, making decisions by the customer, a key to" buy "and enjoy the follow-up service, make investment in small white also can be used easily. 
 
Application scenario 4: marketing and customer service 
 
It is often difficult to identify effective customers on financial platforms. Ai can accurately find users through user portraits and big data models to achieve accurate marketing. 
 
In addition, in the customer service, the user questions are mostly repetitive, and often is limited to a few specific areas, these characteristics make it an excellent choice of natural language processing and intelligent service robot. Intelligent customer service robots can tap users' needs, explain and recommend products, and bring about sales transformation. Intelligent customer service can solve the problem of most of the user, in very sure of the answer can answer directly, in the uncertain artificial customer service, offering possible answers to choose the best answer by the judgment of the service artificially sent to the user. This greatly improves customer service efficiency and user experience, while reducing the cost of manpower. 
 
Application scenario 5: investment decisions 
 
In investment institutions and investment banking departments, daily tasks such as collecting a large amount of data, conducting data analysis and report writing tend to take up a lot of time and energy. When processing massive amounts of data information, the machine has natural advantages and can understand the text information through natural language processing technology to find the internal rules of market changes. A classic case is that wal-mart stores found diapers and beer together to increase sales. Big data can find correlations between seemingly unrelated events, and the same effects can be seen in investment, such as when apple launches new opportunities to influence which companies' share prices. 
 
Artificial intelligence can also make predictions based on the market historical data collected and analyze the growth of enterprises, thus assisting in investment decisions. A famous example is the largest U.S. credit card of bank Capital One using two employees position is convenient, the analysis of at least 170 listed retail company credit card consumption, and predict the company's operating income, and then buy call option or put option in advance, investment rate is as high as 1800% in three years. Although it is a counterexample, it has great implications for the application of intelligent prediction. 
 
In addition, the machine can also according to the collected data, automatically generate a large number of fixed format documents, such as the prospectus, research report, all the report and investment letter of intent, etc, so as to improve efficiency, reduce the boring repetitive job. 
 
Conclusion: 
 
In the long run, the advantages of artificial intelligence cannot be ignored: smart devices can work continuously for 7 times 24 times 365, without rest and vacation. By sifting through a lot of data, we can help people make decisions more efficiently and more accurately, making decision making easier. In the analysis of problems, it is not affected by mood and environment, which can avoid operational risk and moral hazard to a certain extent. And the financial industry is the industry that produces data naturally, and is also the place where the data can produce the most commercial value, which has the great advantage of being the concrete realization of artificial intelligence.