Banking, Financial Services and Insurance (BFSI)

BFSI is another segment that has taken to an early adoption of Data Analytics driven AI-ML adoption with many practical applications including credit risk prediction, banking fraud detection and client churn management - all of which are extremely critical use cases within this sector. Some of the potential use cases include:

Banking Fraud Detection - correlation between online transactions and client profiles

Conversational AI -  query or complaint resolution through NLP chatbots

Client Churn Management - triggers to take timely action through sentiment analysis

Cyber Security - client data protection adherence, real time threat detection, mitigation

Credit card security - correlation between transactions and client spend habits data

Algorithmic trading  - automated portfolio management through self-learning algorithms

Credit scoring - for recommendations on faster loan approvals based on data

Lowering operational costs - underwriting and claims processing