Econolytics is proud to announce it’s upcoming webinar on the topic “How AI is Revolutionizing the Fin-tech Space in India”. It is hosted by data experts who will be sharing their hands on experience in the BFSI domain through following 3 case studies:
- ML techniques and model efficiency in forecasting Customer life cycle value.
- Fraud Analytics in Life Insurance and predictive model results.
- Survival analysis and choosing the ideal cut-off point for credit scoring
Date and Time: 30th August, 5pm
Let’s get you head-started with a few definitions.
Financial Technology, commonly known as Fin-Tech is described as an industry that comprises of companies which use technology to advance financial services.
Artificial Intelligence (AI), as defined by Britannica, is the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings.
So, why attend this webinar?
The speakers of the webinar are Nitya Saxena (Data Scientist, Lady Hardinge Medical College), Paras Mal (Data Science Consultant, Capgemini) and Ambarish Chatterjee (Senior Manager, Kotak Life). They are all accomplished beings with hands on experiences in their respective fields. They will dive deep into the importance of AI in fin-tech space through various case studies. You also get to ask questions to the speakers during the sessions to improve this learning experience.
Fintech is an emerging industry with extreme potential and the increasing applications of AI in financial services.
According to Academy of Internet Finance, Zhejiang University , India was ranked second globally in the Fin-Tech adoption rate in 2018 with an average percentage of Fin-Tech users as high as 57.9%, behind China’s 83.5%, and much higher than developed countries’ 34.2%.
Fin-tech India report by PwC in 2017 also stated that in the past year, global investment in AI applications has increased to $5.1 billion as opposed to $4.0 billion in 2015.
Along with the fact that Indian Fin-Tech market holds colossal potential, it is also true that one of the most appealing and lucrative techniques to look forward is Artificial Intelligence. Therefore, it is extremely intuitive to invest in AI for maximum advancement in financial services.
This webinar will leave you wondering about the impact that AI is causing in fin-tech space, especially in India.
Challenges and really exciting problem statements in the industry that can be solved using AI.
India is a country with multiple ethnicities, habits, languages, preferences, and cultures and fin-tech is something that is relevant to each and everyone in the country. Hence, there is a need of the interfaces for the user interaction that are user-friendly, adaptable, and transact.
Some of the most common use cases of AI in financial sector are:
Customer Acquisition – Social media and web analytics help in understanding the customer’s intent of purchase. It can also be used to analyse customer’s spending patterns for suggesting relevant ‘offers’. This helps in reducing customer acquisition costs.
Customer On boarding – We are all aware of the complicated account opening and KYC processes. A lot of manual work is required on both ends which ultimately leads to a high turnaround time. But AI has been proven beneficial in this case where it automatically fill the fields with the help of external sources of data.
Risk Assessment – Another use of AI is risk assessment while trading or investment decision making. There are specific AI software which give insights about future trends by studying historical trading data. These software are used by traders, and investors to assess the associated risks and make an informed buying or selling decision.
Hyper personalisation – From once a simple digital tool, Financial Service chatbots have evolved significantly to act as private digital assistants to customers. They use the knowledge of past interactions (queries, feedback etc ) with their customers to enhance the quality and outcome of present interactions. They are also highly efficient (Quick information delivery). Overall, they provide a delightful customer experience.
Fraud Detection – Advancement in technology comes with it’s own flaws like security breaches and frauds. But it comes with even superior benefits. AI is being highly explored for it’s usability in this sector. It proves to be a more efficient and cost cutting approach for fraud detections when compared to rule based approach.
This webinar will take you through some of these really intriguing use cases of AI and ML in Fin-tech space that you can choose to work with.
Learn about actual life cycle of a machine learning implementation
Most of the resources that are available online in data science field fail to explain the actual life cycle of a machine learning implementation. You will learn about business problems, techniques & challenges, application of machine learning for the problem statement, model performance, and the time taken for implementation and deployment of the model in fin-tech domain.
You may be an amateur or an expert in AI and/or fin-tech space, or someone seeking a career direction, this webinar holds something for each one of you. This also gives you a platform where you can grow your network and learn from each other. Reserve you spot now!
Hope to see you there 🙂