Over the last few years, automation has played a real transformative role in multiple industries. With automatic solutions getting more secure and versatile, the banking industry has also followed down the path and has called upon a suite of changes in the industry.
What changes does automation bring to Banking? Here are some of the points to look out for:
- It brings-forward the power of personalization
Personalized services are becoming very popular in the banking industry. With automated solutions, banking professionals no longer need to sit through to understand the needs of a client. A dedicated software allows customers to directly interact with automated financial advisors that custom builds the products as per their needs.
Data analytics that includes Big Data, Machine Learning, and data science is undergoing a massive revolution. Therefore, it is highly necessary to keep yourself updated with all the latest technologies and plans related to data analytics. To have a deep knowledge of customer performance, presentation of the systems, and the new income opportunities, data analytics strategy will be highly beneficial if it uses some of the latest trends.
Let’s have a look at some of the top data analytics technologies, techniques, and plans that are going to heat up in the coming years:
- Data Gravity will Migrate Rapidly to the Cloud
The year 2018 is one of the tipping points for cloud analytics because of the increasing use of cloud data and applications. Therefore, it is required for most organizations to perform their operations in hybrid mode by utilizing on-evidence and various cloud environments for spreading analytics, data, and applications.
At present, one of the most important technological trends evolving in the software industry is Augmented Reality (AR). Products like Google Glass and visual, head equestrian displays have further proliferated the market demand of AR.
Owing to its demand, one might be curious to know how this augmented reality truly operates. AR works by utilizing and identifying algorithms, which it receives from the vision of a computer to augment visuals, video, sound, and all other sensor dependent inputs over the actual world objects with the help of a user’s camera.
It is one of the fastest growing technologies, slated to reach billions by the end of this year. AR helps users to have a distinct and more interactive world, which blends both real and simulated world together. In addition to these, AR is not limited to only computers and mobile phones, but also other devices as well, thereby providing a pool of users a completely new experience in the digital world.
Let’s dive into how this form of technology can be the game-changer for both engineers and designers:
Automation has engulfed the business landscape. With advancements in technology, robots are getting more and more precise and are approaching human intelligence with cognitive capabilities. Edging automation down this path will augment humans by taking care of tasks that require human judgment or intervention repetitively.
Sounds promising, isn’t it?
Humans are moving closer to a world driven by technology, wherein automation will take care of mundane jobs and humans will be free to do more productive tasks. Machine Learning, Natural Language Processing, and Speech Recognition, collaboratively, define Cognitive Robotic Process Automation.
The applications of Cognitive Robotic Process Automation are quite widespread; let’s dive deep:
Tremendous advantages of Cognitive RPA have been witnessed by various marketing channels. A chatbot is a perfect example of a robot that is capable of answering queries regarding products and services without any human intervention. Voice assistants and recommendation engines have taken marketing to a whole new level where humans do not need to offer suggestions. Robots are able to perform human-like processing of data to assist customers, enabling them to make a choice.