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. Google has been identified as a visionary leader in the AI in Fintech space given its high product quality and reliability. Google Cloud Platform 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 Google Cloud Platform in the AI in Fintech space.
AI in Fintech offerings from Google 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 AI in Fintech space include:
- Google Cloud partners with ThoughtSpot on Enterprise Analytics
Google Cloud has partnered with ThoughtSpot, for AI and data analytics for the development of cloud analytics solutions. ThoughtSpot will also be making additional integrations into the Google Cloud Machine Learning Engine. Both organizations aim to tackle the trend of the adoption of multiple clouds by companies through this collaboration on data analytics.
- Google Cloud launches Contact Center AI
Google Cloud launched AI services to improve enterprise contact centers and talent acquisition. This has enhanced the importance of AI and machine learning for customers.
- Figure Eight and Google partner for machine learning
Figure Eight has partnered with Google Cloud AutoML to help customers collate and prepare data that they can use to create models and reports. This set of ML tools helps developers use neural architecture search tech to formulate and train ML models.
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