AI has become a game-changer across the globe in the past couple of years, affecting every industry it has touched. Needless to say, it is reshaping the landscape of the fintech sector too, so in this article we’re going to suggest three books that will delve into these changes and give an insight into what may be coming down the line.
Prediction Machines: The Simple Economics of Artificial Intelligence
In this read, the book’s authors, Ajay Agrawal, Avi Goldfarb, and Joshua Gans, delve into the world of AI personalization and how it is transforming industries, making prediction easier. It examines complex decision-making and how AI can be used to make these processes more efficient.
Although this advancement is relatively new, there is excitement at the power of AI. We have seen in the past how new technology can transform an industry. The development of the internet and increased accessibility has created an online market never before imagined. Shoppers can buy products globally, and in some cases expect next day delivery. In the world of online entertainment, sites like Chumba Casino online showcase the advancement of the betting sector. Gamers no longer have to play in-person but can use the online casino to experience a wide variety of slot games. The technology has not only created a dynamic user experience but also appealed to a wider customer base.
Agrawal and co. also explore how the financial industry will be affected by the latest technology enhancement regarding AI delving into how it is trying to predict future needs of financial customers by using algorithms that analyze spending, lifestyle patterns, and more.
The AI Book: The Artificial Intelligence Handbook for Investors, Entrepreneurs, and FinTech Visionaries
This book, written by Susanne Chishti, Ivana Bartoletti, Anne Leslie and Shan Millie, is a must-read for those interested in how AI came to be used in the fintech sector. It covers everything from blockchain to the role of AI in AML and other fraud detection efforts. In truth, it makes you wonder how the industry ever survived without it. Not only can it be used by card companies like Mastercard to help protect banks and institutions in real time, it can analyze a huge amount of data, which can significantly reduce the risk of fraud. In what is truly an interesting read, you will be astounded by the power of AI in the fintech area.
AI Superpowers: China, Silicon Valley, and the New World Order
This book may not be primarily about the fintech sector, but Kai-Fu Lee gives the reader a fascinating insight into the world of AI and how it has transformed several industries, from China to Silicon Valley. The book outlines the technology’s disruptive qualities and how it works to improve efficiency and harness the power of data. Lee’s discussion on AI may help those interested in fintech navigate the sector as AI improves and develops.
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Understanding the use of AI in the fintech sector is the first step for anyone looking to get into this area of expertise. With that knowledge, users can then begin to leverage it and really change the face of the industry they are working within. A good stepping stone on this journey would be any of these three books.
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