New Research Shows the Impact of Machine Learning on Banking and Consumer Behavior

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The press release stated that, “A new research report from Mercator Advisory Group titled Bringing AI into the Enterprise: A Machine Learning Primer provides an analysis of the impact machine learning will have on bank operations and payments and how it is already shifting consumer behavior. Consumers increasingly expect their smartphone will answer their questions, give them directions, and warn them when accidents will slow them down. Over time, machine learning will become as prevalent within banks as software systems are today. Eventually every software application will be reconstructed to accommodate machine learning — it’s simply a matter of time.”

It continued with, “This report provides an analysis of the current state of machine learning with a deep dive into existing technologies and breakthroughs that represent new deployment opportunities, such as deep learning, adversarial networks, and transfer learning. The report identifies the incredible breadth of business processes that are impacted by machine learning and recommends areas that should be targeted first. It recommends an approach to enterprise deployment and identifies the important differences between deploying a machine learning solution and deploying traditional software and provides recommendations that will prevent silos of machine learning that would limit the ability of machine learning tools to collaborate.”

Read more here.

 

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