360Quadrants, the world’s only comparison platform that combines expert analysis with crowdsourced reviews, has released a quadrant on AI in Fintech Solutions to help businesses make quicker and more informed decisions.
Artificial Intelligence (AI) in Fintech refers to the theory and development of computer systems capable of performing finance-related tasks that usually require human intelligence. It is an application of AI technology used in the financial sector to design investment strategies, detect anomalies with pattern & voice recognition, and conduct market analysis with data mining. The AI in Fintech solutions market for this quadrant is defined as the summation of AI-enabled Fintech solutions and services.
For this quadrant, the components of AI in Fintech are mainly segmented into solutions and software. Major application areas of AI in Fintech solutions are virtual assistants, business analytics & reporting, and customer behavioral analytics. These solutions have been analyzed based on cloud and on-premise deployment. Amazon has been identified as a visionary leader in the AI in Fintech space given its high product quality and reliability.
Amazon AWS Alexa has been identified as a visionary leader in the AI in Fintech space given its extensive product features, high product quality, reliability, suitable channel strategy, and wide geographical footprint. 360Quadrants also lists competitors of Amazon AWS Alexa in the AI in Fintech space.
AI in Fintech offerings from Amazon aim to deliver valuable insights and intelligence from data. The company has an established product portfolio with a robust market presence and business strategy. Some of the major developments of the company in the AI in Fintech space include:
- Amazon’s Sustainability Data Initiative expected to boost sustainable development through cloud and open data
Amazon, through its Sustainability Data Initiative, aims to make vital data required for sustainability research, problem-solving, and innovation more accessible. It has made this data available on AWS, developing innovative technology for cloud access, thus helping various communities benefit from this shared data. It does this by identifying foundational data and working with data providers such as NOAA who help them stage the data on AWS Cloud.
- Amazon’s SageMaker updated with built-in algorithms and Git integration
Amazon announced a number of improvements in SageMaker, its end-to-end platform for building, training, and deployment of machine learning models. These new automation, orchestration, and collaboration features for Amazon SageMaker will make it easier to build, manage, repeat, and share machine learning workflows.
- AWS Announces the Release of Alexa for Business
AWS has announced that its widely popular Alexa is now available for businesses as well. This will include a service that gives every employee an intelligent virtual assistant to help them deal with technology in their work place more easily and efficiently. Alexa for Business supports and integrates a bunch of skills into devices that employees already use, from companies such as Salesforce, Concur, and Polycom.
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