How JPMorgan, Citigroup, and Goldman Sachs are Revolutionizing Finance with AI | Ibiixo Technologies - video Dailymotion

Ibiixo Technologies

Discover how leading financial giants like JP Morgan, Citigroup, and Goldman Sachs are leveraging artificial intelligence to transform the finance industry. From enhancing security to optimizing trading strategies, AI is driving innovation in fintech. In this video, we delve into the practical applications and future prospects of AI in finance. Watch now to stay ahead in the rapidly evolving world of financial technology.  Key Highlights: - AI applications in finance by top banks - Enhanced security measures - Optimized trading strategies - Future prospects of AI in fintech   Connect with us on Whatsapp: https://wa.me/918460184608 or  DM us at sales@ibiixo.com   Visit our Website: https://www.ibiixo.com/  ✨ If you have any Queries, Let's Connect: https://www.ibiixo.com/request-for-pr...  #AITechnologies #fintech #jpmorganchase #citigroup #goldmansachs  #aiinfinance #FutureOfLearning #FinTech #IbiixoTechnologies #TechTrends #AIIntegration #AIRevolution #DigitalTransformation #TechInsights #ibiixotechnologies #ibiixo #ai #artificialintelligence

Transcript

00:00Welcome to the new one in the series AI in real world.

00:14In the previous videos, we talked about some interesting industries.

00:19Industry number one, healthcare.

00:21Industry number two, education.

00:24And industry number three, e-commerce.

00:27In this video, we are dedicatedly going to see some live example of AI implementation

00:34in fintech or financial services.

00:38Financial entities are leveraging artificial intelligence development to manage vast amount

00:43of data, and that resulting in more precise decision making, predictive analytics, and

00:49with AI, many capabilities are added to bank and other financial institutions.

00:55Very important, there is a 30% reduction in assessment errors, which is a huge benefit

01:03for all the financial institutions.

01:07Investment in AI technologies are also climbing a lot, with projections suggesting that spending

01:13of AI in fintech will exceed by $12 billion by 2026.

01:19And 12 billion is a huge number.

01:21And you can understand that how much the fintech industry is getting benefited by AI

01:27that they are spending this amount of money.

01:30For instance, take an example of JP Morgan Chase, they have invested heavily in AI and

01:35machine learning technologies, and mainly to improve banking services and fraud detection.

01:42Citigroup on the other hand leverages AI to personalize customer interactions.

01:46And that is getting very normal in banking field at the moment, that banking services

01:52or mobile application of banking services are very much personalized to the users.

01:57And of course, they are also streamlining operations with the use of AI, and thereby

02:01you know that's definitely enhancing client satisfaction and operational efficiency of

02:05course for all staff level at every level.

02:09Similarly, Goldman Sachs utilize AI for advanced data analytics to drive strategic investment

02:15decisions and making financial advising much more easier for them.

02:20Because to make any financial or investment decision, there is a lot and lot of data to

02:24be analyzed.

02:26And what Goldman does is they analyze all this big data and use AI to make very simple

02:33decision making process.

02:36Having said so, all these pioneers in finance are heavily using AI to improve processes.

02:42And are you in financial institute planning to develop an operational software with AI

02:47or a mobile application?

02:48Get in touch with us at sales at ibixo.com and we'll be at your assistance.

02:54Now let's start reviewing all these pioneers one by one.

02:58We'll start with JP Morgan.

03:00JP Morgan heavily uses AI for both aspects of business, you know, for customer service

03:05as well as risk management, which is a very important part.

03:09One of the most important initiatives is to use advanced models to predict loan defaults.

03:14And you can understand how much important it would be when an AI helps them to reduce

03:19down loan defaults.

03:21Now the model helps them to significantly improve the accuracy of credit assessment

03:25and also helps them to reduce the risk in giving away money, giving away loans and make

03:31sure that they don't get defaults or there are no fraud transactions involved in that.

03:36Another example with JP Morgan is their coin platform, which uses NLP to interpret commercial

03:42loan agreement, a process which heavily consumes 360,000 hours for them.

03:50With AI models, the tasks are almost automated.

03:53And apart from that, JP Morgan invest in AI to detect patterns of fraud.

03:59That is very, very important, small frauds to larger frauds.

04:03When AI is at help, you know, they enhance the security across all the transactions and

04:09their algorithm can identify unusual activities very real time.

04:13And you know, that eliminates the process of getting certain things done, then identifying

04:18fraud and then getting back to cure it.

04:22When an AI algorithm basically identifies the fraud real time, they can prevent the

04:27fraud from happening rather than cure.

04:30They are basically eliminating the chance of having any fraud transactions or any fraudulent

04:36transactions happening overall in the whole platform.

04:40Now these are very few examples of JP Morgan.

04:42They have implemented various ways in which AI is assisting them for the ease of operations

04:48and for customer satisfaction as well.

04:51Now let's move towards the new group, that is the Citigroup.

04:54Like JP Morgan, Citigroup has used AI for both customer satisfaction as well as operational

04:59success.

05:00You know, they have largely invested in two areas, real time fraud detection as well as

05:06customer interaction.

05:08Citigroup not just have best chatbots, but they also have predictive analysis to provide

05:14personalized banking service and product recommendations.

05:18Now you might have always experienced in a Citibank application or mobile website, right,

05:22that if you are using it and your friend is using it, you will see different dashboard

05:27for each one of you.

05:29And the only reason why they are able to do is by studying your pattern and submitting

05:35the data to an AI model to suggest you something which is very much more personalized for you.

05:40And of course, the personalized banking helps them to increase customer satisfaction and

05:44retention to a very, very huge level.

05:47What do you think?

05:48Like what is the best feature of Citibank you feel that that has been powered by AI?

05:55Comment down in the section and so that we can discuss very much in detail about that

05:59particular feature.

06:01Now let's move to our Goldman Sachs Goldman Sachs analyze large database, which helps

06:07them to make faster and better trading decisions.

06:10And why not?

06:12Because they have so much of data in their place, which has not been used for years.

06:17Right now, when they are implementing the same data in AI, that's basically helping

06:22them to make very faster and accurate trading decisions.

06:26And that's their job.

06:28Now, try to understand their full time job is to analyze data and make trading decisions.

06:34And when an algorithm does that for them, that reduces a lot of work.

06:40And this absolutely helps them to reduce risk and increase profitability without any doubt.

06:45What do you think about that?

06:47Have you ever tried any algorithm to make trading decisions for you?

06:52If yes, write down the name of the platform you have used in the comment section and we'll

06:56make a dedicated video talking about how AI can help you, not in large institutions

07:03like Goldman Sachs, to make better trading decisions and make easy money.

07:09Now, Goldman Sachs use machine learning to real time predict market trends, which helps

07:15them to stay ahead of making profitable financial decisions.

07:19You know, right now there might be millions of transactions happening on the market every

07:23single second, every single minute.

07:26And when AI is live and it's been at a live assistance, that's a huge power.

07:32It's like more than a thousand people working behind you for you to make smarter decisions.

07:39And apart from that, Goldman Sachs has developed AI powered platform that automate aspects

07:44of financial operations like, take an example, compliance check, like transaction processing,

07:51everything that's happening with the power of AI.

07:54The automation leads to significant cost saving and allows human employees to focus more on

07:58strategic tasks, thus optimizing overall operational efficiency.

08:04That's very easy with AI, you know.

08:07Now we have talked about all these three big brands.

08:10Now let's focus on what all the things, what are the current trends happening, like we

08:14have discussed in all the other videos of the series, we'll discuss what all the things

08:18can be achieved with AI in your financial institutes.

08:23And just make sure if you're looking for one, if you're looking to develop one or implement

08:28AI in your business, or you want to make any financial applications, you can definitely

08:33get in touch with us at ibixo.com and our email is sales at ibixo.com.

08:39Now let's move towards the things you can do with AI in your financial institutes.

08:45First one, increased automation in financial services.

08:48That's a header overall, you know.

08:50Now the second one, enhanced personalization for every user.

08:55Third one, which is very important for you, robust risk management and compliance.

09:01Fourth one, fraud detection.

09:04Fifth one, integration of AI with blockchain to avoid any fraudulent transactions and to

09:11make sure that the system is jam-packed with powerful assets, right?

09:16And the sixth one, AI-powered financial advisory services.

09:21Now this is very important.

09:22So if you are in financial institute, if you are using AI-powered financial advisory, that

09:28will reduce your work by at least 80% and suggest something really good to your clients

09:34with minor things in place.

09:37You know, for the research, you might need around a week of time that can easily be achieved

09:41within 20 minutes of time on a really good AI model.

09:46So develop one for your financial services and if you find this video interesting, make

09:50sure you comment something, you comment about how you like the video, you comment about

09:55what you want next to be in the video and we'll definitely create a new one for you.

10:00Make sure in case you're looking for any web mobile development with AI, without AI, get

10:05in touch with us at sales at ibixo.com and we have a very, very, very interesting blog

10:12about the whole topic, much more details than this video.

10:16You can find the link in the description.

10:18Stay tuned.

10:19Stay safe.

10:20Signing off from IBIXO studios, Deep Kalia.

How JPMorgan, Citigroup, and Goldman Sachs are Revolutionizing Finance with AI | Ibiixo Technologies

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