- Machine learning technology can be used in automated risk assessment for lending, stock trading analysis, predictive analytics for corporate investing and day-to-day functions like improving customer service and building persuasive pitches.
- According to a white paper released by Juniper Research released this week, there is one fintech sector that may particularly benefit from the advancement in AI technology.
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The UK-based research firm projected that, between 2016 and 2021, revenue growth from unsecured loans, tied directly to machine learning advancements, would jump by 960 per cent during the 5-year-period.
- For the purpose of the study, Juniper defined AI/Machine Learning as:
The reason for this revenue jump is the nature of fintech is to traffic in risk assessment, so the Juniper analysis is projecting the financial gains made from lending decisions backed by accurate, high-tech data analytics.
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Finally, the report noted that US investment into AI technology has increased by 600 per cent over the last five years, signalling an expectation that machine learning will become an evermore important part of our day-to-day business lives.
The fintech industry opportunity in Asia is set to directly compete with North America and blow Europe out of the water
@DeepLearn007: #machinelearning technology set to unlock US$17B #fintech opportunity
#AI #ML #banking #tech
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