Artificial Intelligence (AI): The Ultimate Data Security Enhancer
Data security to get smart with AI:
How fairly do you remember the first time “artificial intelligence” was used? The concept of AI has always been with us since 1956 – it was coined for a project titled “Dartmouth Summer Research Project” on Artificial Intelligence. AI and Data Security.
As we strive toward a data-driven world, we’re seeing organizations facing difficulties due to continuous data breach. During the past years, multinational companies went through public havoc due to data breaches.
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AI and Machine learning are Reshaping the Global Banking Industry
Customer expectations have always been mending, but this technology tsunami is a completely new phenomenon on the contemporary financing horizon. The Banks are pushed to the wall by extensively mushrooming competitors and rigorously reforming regulations.
Amidst the rising fracas, two prime proceeds are certain: the role of these new technologies will increase and the regulations to curb their misuse will get more stringent. The change is exhaustive and will shake and stir all sections of this wide old giant sequoia right from the deepest roots to the crown.
The most profound effect, however, can be seen in AI’s dismantling of the conventional tradeoffs between service quality and cost. In this new technology-powered scheme of things, manual operational efficiency will become redundant as a competitive differentiator. And as the market shifts its focus from financial institutions to service providers, the above agents (AI, machine learning and, data analytics) work toward a singular aim — Survival of these institutions.
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Demand for AI skills grows in financial sector: Here’s what it looks like
It is clear that A.I skills aren’t limited to technology or just one industry sector. Recently, the Financial sector has seen a spurt in demand for A.I skills. Roles like Machine learning engineer, Data Scientist, Data Engineers are majorly sought after by enterprises and fintech start-ups alike.
In the last year, the number of jobs requiring these skills has increased by 60%, according to Bloomberg and data from LinkedIn.
AI has proven revolutionary in several aspects of the industry. Thus, it is not a surprise that financial institutions including investment banks, retail banks, PE firms, etc. are utilizing A.I.skills to create better business opportunities. However, not all roles in finance requiring A.I skills need a computer science or engineering degree.
Roles like Chatbot Copywriter, Technical Sales Consultant, Product Strategies, etc. are also in demand, says Zoah, Senior Economist, Glassdoor. Professionals who are already in this domain have an upper hand, as they can use their expertise in the field to move ahead while learning other required A.I. skills.
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