https://www.mobinius.com/blogs/use-cases-of-ai-and-machine-learning-in-fintech-industries

1. Top 10 Use-Cases of AI and Machine
Learning in Fintech Industries
Mobinius Editor
on 27 August, 2020
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Nowadays, many companies are inclined to carry out advanced machine learning
solutions along with custom AI solutions to stand tall in the competitive market. Analytics
is essential to improve the bottom lines so that you can increase the efficiency of your
business. With machine learning and AI, it is effortless to get some comprehensive

2. strategies for analytics that will help you to run your business successfully. With a view to
that, you must include the machine learning strategies in the data structure. In this article, we
will talk about ten major uses of AI and machine learning in the Fintech industry. So keep on
reading.
Table of Contents
 Top 10 Use-Cases of AI and Machine Learning
o
 Data security
 Personal security
 Financial trading
 Healthcare
 Marketing personalization
 Fraud detection
 Recommendations
 Online search
 Natural Language Processing (NLP)
 Smart cars
o At the end
Top 10 Use-Cases of AI and Machine Learning
Here are the main uses of Artificial Intelligence and Machine Learning in Fintech
industries—
 Data security
For the digital transformation industry, malware comes like a big problem that is directly
related to data security. According to the Kaspersky Lab report in 2017, it is said that every
day they observed 360,000 malware files newly. However, Deep Instinct, an intelligent
institutional firm, has reported that each of the new malware has a similar code as the earlier
versions. The rate of changing files for different iterations is from 2 to 10%. The learning
models can detect malware accurately. Also, there are some machine learning development
companies that will help to access the information stored in clouds, and thus, they are able to
report anomalies to indicate the breaches.
 Personal security

3. Besides data security, personal security is also paramount, so it will be better to take help
from artificial intelligence services to increase your personal security. For instance, if you
are taking a flight, you will have to wait for security screening. Similarly, in a public event,
you may have noticed the long lines for security screening. With advanced machine learning
techniques, it will be easier to reduce false alarms.
Because human screeners are not always able to detect the spot things during security
screening. So hiring a machine learning solution provider will be effective for implementing
machine learning in security screening at stadiums, concerts, airports, etc. to speed up the
screening process and organize an event safely.
 Financial trading
Some AI development companies are there to assist you in financial trading. A large number
of traders are interested in the share market, and they keep on predicting the ups and downs
of the stock market on a particular day. With machine learning strategies, it will be easier to
predict closely at any time.
Read More : “Artificial Intelligence|Machine Learning and Their Smart Applications“

4. Proprietary systems sometimes help to execute high volume trades at high speed, so some of
the foremost firms look forward to this process. Trade with high volume or high speed can
generate a large amount of profit even though the probability is low. Needless to say that
humans are not able to match the machines in terms of consuming a huge amount of data and
execute trades at high speed.
 Healthcare
AI and machine learning technologies have a big role to play in healthcare and digital
transformation. With the algorithms of machine learning techniques, it will be easier to
collect and store more data and detect more patterns that are difficult for humans. CAD is
used in one study to review the mammography scans of some women who had breast cancer
later, and 52% of cases are detected by the computer. If you hire AI developers, they will
support you to incorporate the advanced technology to identify the risk factors in a large
population. Medicison is a company that has detected eight types of variables, which will be
very helpful for diabetes patients.
 Marketing personalization
Without understanding your customer requirements correctly, it will be challenging to meet
up with their demands, which may have an impact on your business. Therefore, most of the
companies give importance to marketing personalization. If you are looking for a digital
transformation consulting company, you will be able to understand its significance clearly.
Sometimes, you search for a product in online stores and finally do not buy it. But after that,
you will get to see digital ads about that product whenever you look on the web. It is a very
basic part of the marketing personalization. Moreover, a company is able to customize the
email and select the recommended product to increase the reliability to the customer.
 Fraud detection

5. If you look for the best machine learning development services, you will not be worried about
fraud cases. Using machine learning technologies is a very effective way to identify potential
fraud cases in several fields. For example, PayPal is taking the help of machine learning to
avoid money laundering cases. With the advanced tools, this company can compare a huge
number of transactions. Moreover, it is equipped well to understand the difference between
fraudulent and legit transactions that take place between the sellers and buyers.

7.  Recommendations
People who have used Netflix or Amazon must know about how this recommendation works.
Most of the digital transformation companies in USA tend to use this in which a machine
learning algorithm is used to analyze your recent activity. It helps them to understand your
choice about the programs or products compared to millions of users so that they can provide
you with better recommendations. Thus you will get a better chance to choose a gift or a TV
program for your family without much effort.
 Online search
Some AI companies are working hard to improve search engine understanding. It means
Google and other competitor search engines are relying on machine learning technologies for
better search results. The main aim of implementing this technology is to check the results.
When you search something on, Google tries to detect your response. For instance, when you
click the first result and stick to there, it will say that you have found the information you
need, and that is how it becomes successful.
Read More : “AI Artificial Intelligence in business 2020 : Types & Advantages“
But if you need to go to the second result or start typing something new, it will be considered
that the search engine is not able to provide exactly what you are looking for. It is how, with
the help of AI development services, they are improving their mistakes and focusing on
providing the most accurate results to the customers.
 Natural Language Processing (NLP)
NLP is commonly found in different types of applications. The AL and ML
companies support you the best to include machine learning to natural language so that the
customers do not have to wait for the response, and they can get all the required information
with accuracy.

8. It also works very effectively to translate legalese into understandable languages. Also, it is
advantageous for attorneys to work with vast details when it comes to getting ready for any
cases.
 Smart cars
According to the survey of IBM, 74% of the leading auto executives are expecting that there
will be a big chance to have smart cars on the road within the next five years. With the help
of AI services companies, it will be possible to integrate an intelligent car with the Internet of
Things. Moreover, it will help to know about the owners and the environment as well.
Read More : “How can Machine Learning benefit your business“

9. Therefore, users can automatically adjust the seat position, audio, or temperatures, and it will
be completely based on the drivers. The driver will not only fix the problems but also provide
a real-time suggestion regarding traffic conditions.
At the end
So now that you have come to know the use-cases and importance of machine learning and
artificial intelligence, you should find the best machine learning solution provider who will
assist you in an appropriate way to increase your business.