Artificial Intelligence is disrupting business models across Industries! Due to some of its powerful features like the power of autonomous, self-regulated systems, machine learning, deep learning, data analytics and more it has gained deep momentum as how it is capitalized under each department right from finance to sales, from HR to marketing and operations to administration.

Based on the insights from Statica, AI is expected to increase productivity by 40% which will deliver $2.9 trillion of business value by 2021. Adopting AI in various industries will develop demand for various roles for unemployment across sectors. Also as per one of the latest surveys, Artificial Intelligence could be able to create a net result of 58 million new positions by 2022.

Across industries Finance, retail, healthcare, manufacturing and real estate all are facing challenges of different types such as security, dynamic customer expectations, inability to understand data, analytics and many more. Explore how AI can overcome all of these and can bring better outcomes for your business.

What is Artificial Intelligence and how does it works?

Artificial intelligence is the part of computer science developed to create automation for the computer to perform tasks on its own similarly like humans. AI programming focuses on three skills: learning, reading, and Analyzing.

Artificial Intelligence enables devices to learn from previous work data and performs like human intelligence tasks. Actually in fact algorithm applies mathematical logic to produce outputs (results) from input data. In AI algorithm it takes both input and output to train machines or devices together from data of previous activities to produce new outputs

Important AI Advantages in Business 2020

• User Experience

Implementing AI helps to automate the process that able to deliver a responsive manner for any queries asked by customers, as it helps to provide a highly personalized user experience.

Companies can now strongly manage large volumes of data arriving from all related sources and have a better insight into the requirements, wants, and concerns of their consumers. AI has capable to learn from customers’ requests and enquires and deliver content as per necessities.

• Decision Making

Decision making plays an important role in customer driving that includes understanding customer perspectives and desires to align products. It has the capability to develop value in the business by accelerating decision making.

It can analyses data faster and more accurately for high volume and variety of data. Due to the volume and complexity of these data collections, machine learning can support unlock benefit from all this data in a method that humans cannot perform.

• Online Security

Security is the main thing businesses will focus more on it to prevent fraud and deception methods. Companies can utilize AI to protect information from threats and cyber-attacks on their business customer’s data. In some firms, machine learning uses AI to identify and avoid deceptions and implement more reliable online security for their profession’ and customers’ data. 

Industries like insurance, banking, retail apply AI for face, voice recognition and biometrics from customers to prevent fraud. It can use efficiently verifying the person and allowing them access.

• Data Insights

Large companies having a lot of certain data produced from various resources that can be used to set predetermined value by analyzing data. To understand certain business conditions we need to analyze data insights that can be achieved with the help of Artificial Intelligence. Machine learning presents reliable, secure, and robust data insights because it explains and treats technical and statistical complexity and the amount and quality of the data in the data set.

• Inventory management

Artificial Intelligence can handle important data that can be used for future demands. It presents a predictive analysis of markets that are expected to develop into the business. The higher a company utilizes AI, the more it receives about the clients, visitors and their actions. 

Across from all Industries and retail stores, Artificial Intelligence holds the capability to deliver excellent real-time analytics and projected inventory requirements.

Fundamental Components for AI to work

In every company, there is a lot of data that is interconnected with inputs and patterns. AI can analyze complex data to drive useful insights to find solutions in an exact manner. Performing machines or devices like the human brain to solve problems and to create better possibilities comes with the adoption of AI.

• It helps to automate company operations with complicated analytical tasks
• It helps devices to drive real-time insights with minimum interference of the human brain
• AI has capable to increase productivity and efficiency

Take Away

These artificial intelligence benefits have transformed all industries and revolutionized the process we reach, analyze, and learn information. Effective AI can transform every industry in the core processes and business models. For business owners, it is a very crucial role to plan for adopting Artificial Intelligence in their company to become more competitive in the game. Fusion Informatics takes advantage of these progressions can offer advanced AI applications and features for all industries. To know how we can help you implement Artificial Intelligence in your digital transformation journey, do mail to sales@fusioninformatics.com

There was a time when you needed deep pockets to recruit a financial consultant or to invest in a managed portfolio. Now, however, AI’s Robo Advisor or AI consultant completely changed the game.

Most likely, the greatest advantage, or benefit, of an online, automated investor investment service with robo consultants is that the removal of the human element also removes the potential to wreck decisions that both investors and consultants can make when they are overcome by damaging emotions such as fear and covetousness.

After all what is this Financial Robo-Advisor Solutions and how does this Robo-advisor work?

As the name implies, a Robo advisor is a form of automated investment management service that requires little or no human interaction when the customer first contacts. Usually, you open your robo-managed account and provide basic information via an online questionnaire about your investments. Robo consultants will then crunch the information you provide to develop a diversified investment portfolio that will meet your investment target allotment percentages.

When your funds are invested, the software can equilibrate your portfolio automatically — that is to say, change the investment required to achieve the allocation for your portfolio.

Know How Robo Advisors Work

The first step in working with a robo-advisor is to determine the correct allocation of assets and specific investment decisions for the investor client. The customer usually completes a risk tolerance questionnaire or a similar form in order to start this process, which requires the client to answer questions regarding their individual financial goals and risk tolerance.

The investment form most widely used for robo-advisory services is the Exchange-Trade Funds (ETFs). Certain investment security forms, including inventories, shares, mutual funds, future securities and real estate, may also be used in the robo consultant method. After selecting and allocating initial investments, the software of the robo advisor will adjust regularly over time, similar to that of the re-equilibration process manually carried out by advisers and investors.

Most robo-consultants also divide their portfolios by risk.  Thus, you are provided with a collection of investments, which meet your criteria, based upon your risk level, ranging from conservative to aggressive.

Also Read: The Rise of Virtual Robo-Advisors for Financial Needs

Which algorithms do Robo-advisors use?

Robo-Advisors use algorithms such as the Modern Portfolio Theory, which originally supported the conventional consultancy community, which used automated investment solutions based on algorithms to control portfolios.

Advanced Robo consultants employ machine learning / AI techniques to develop their algorithms continuously and to import output, but such providers are rare until now. Nevertheless, as technology progresses, the product will possibly be further evolved and used more frequently.

Key Benefits of Using a Robo Advisor in 2020

You can avoid making mistakes while investing. It is often documented that one of the main reasons why investors get poor results is due to their own behavior. Investors take emotional choices based on good feelings at the highs and lows of the market. This technology does not allow such errors.

The method can be automated fully. The robo consultant software is in charge of the investment process once you open your account. You do not have to worry about making changes or investing more or less in a particular market sector in your product portfolio. You do not even have to sign in and position businesses.

A smaller amount can be spent at a lower cost. Consulting firms generally require greater investments and charges that are often higher than those charged by consultants. Moreover, you do not have to worry about making a recommendation that is not in your best interest from a broker or another financial seller.

The Drawbacks of Using Robo Advisors

Of course, robo consultants have some problems since it is new. In general, they offer an alternative to higher-cost financial advisors for sensible investment management. Check out a number of robo consultants ‘ major drawbacks.

• They’re Not Financial Planners

One of the things that bother me about some robo advisors is that they brand themselves as a replacement for financial planners. Of course, most of the Robo advisors are as good as the best financial planners in terms of the design of their portfolios and actually are better than most purely because of their lower costs. The building of portfolios by itself is a product, and it really is not appropriate to pay a large sum.

However, a human based financial planner does a lot more. A good financial planner knows you personally and helps you create a plan that uses all available financial tools to achieve your specific personal goals. Financial planners are not autonomous advisors. Perhaps the technologies will come, but they are simply a tool for applying and handling the portfolio for the moment.

• Finite Contact Methods And Hours

Some robo consultants provide only contact text, e-mail and chat box. Others have limited hours of telephone service.

During the weekends, a number of robo consultants are unavailable. This can be a problem, because you work throughout the week and invest on the weekends.

• They Cost More Than Other All-In-One Funds

Robo advisors are relatively very inexpensive, but they still cost more than the lowest-cost all-in – one funds available. The pension funds of Vanguard currently cost 0.14% to 0.5% per year, and LifeStrategy funds are costing from 0.11% to 0.14% annually.

Better, on the other hand, charges 0.24% for its basic management fee, and costs for the assets that are underlying and will equate to about 0.11% for most portfolios. This is an overall cost per year of around 0.36%.

There is no big difference between these two and Betterment is still much cheaper than most other investments even with its management fee. Nonetheless, it should be recognized that cheaper ways to get an all-in – one portfolio are open.

• No Face-to-Face Meetings

If you are someone who needs your financial consultant, then most robo consultants are not yours. The robo have no office in which a customer goes to speak to the contractor directly. This kind of personal contact is limited to the traditional models of financial consulting.

• They Don’t Guarantee Performance

This is valid of any project, so it is not directly a blow to the robo advisors. Nonetheless, certain ads may make it feel like it promises a certain return, which is just not the case.

Robo consultants open you to all the risk you face. Your returns are sometimes awesome. You are going to lose money occasionally. It is just like that.

Also Read: How Robo-Advisors Boost Your Business Making Better Than Human

Can I Use a Robo-Advisor?

If you want low-cost investment management from analysis and want to exclude yourself entirely from the management of your portfolios, then it makes sense to look at a robo advisor. Check out our Financial Robo Advisor Solutions from Fusion Informatics, which help you make investing simpler and less difficult.

Big data is sometimes complex and difficult to understand. An increasing number of companies are opening up their doors to experience data based solutions. With increasing demand to understand and process data based solutions enterprises are eager to invest their time, money and resources on the opportunities to achieve business goals and improvise efficiency in a number of ways.

Deciding to utilize data science is not as simple as just collecting the information. It is important to understand the need of your business. It is necessary to figure out whether to bring machine learning in-house– introducing new departments to facilitate or to collaborate with external sources to manage the data, it totally depends on the size and need of the business.

Analysing data not only helps the business to simplify big data challenges but also helps management to make logical decisions to lead the company reach heights and achieve organizational goals like better profits and managerial efficiency. Here are five common ways in which data science can add value to your business:

Empowering Management

The management will have to learn to formulate tasks based on what they want to predict or recommend, rather than following the traditional basic procedure. Implementing a data strategy in an intelligent, structured way makes a big difference. In modern developed economies, businesses that will invest in the technology and talent will be in the best position to compete and succeed.

Identifying Target Audience & Trends

One of data analytics’ primary objectives is to identify emerging and prominent market trends. Once identified, these trends can help to provide more insight into consumers’ choice and expectations.

The more information that companies gather and analyse about their customers, the more they learn about their behaviors, needs, and preferences. This in-depth knowledge can help you tailor products and services to meet the consumer expectations and demands.

New Level of Business Productivity

Data science is still an emerging field and no matter how well you think your business is doing, you can improve your position in your industry by collecting and using data effectively. There is no longer any need to wait days, weeks or months for results. In some cases data analytics can happen in real time giving business leaders interesting insight into customer experience and business productivity.

Significant Decision-making solution

For years, executives have made million-dollar decisions based on gut instinct. With executives getting efficient at decision making, the right decisions will let the management provide impartial, data-led guidance for critical decisions which certainly will make significant organizational changes professionally on different level.

Facilitates sensible recruitment

Processing large number of CVs, applications, vast amount of data and data-driven documents gets easier with data science solutions at your HR departments rescue. Data science can help your recruitment team process much faster and recruit the right talent quickly and without compromises and confusions.

Need help to know how data scientist can transform your business?

Please Get in Touch with our experts.

Advanced data analytic are rapidly becoming the “digital microscopes” that allow organization to reveal hidden insights and quickly act on them. We at Fusion Informatics offer data solutions that help in accelerating the digital transformation of an organization.

Digital Transformation is basically the transformation of the way an organization uses its current technology and makes greater use of it to optimize and improve the service to customers. If in today’s era companies do not digitally transform, they will not be able to keep up with their competitors and also will find it difficult to make use of the data they have.

During this digital generation there is so much of data exchange on a daily basis. Every organization now has an abundance of raw data but they need to analyse this data as well. Fusion Informatics provides data analytics services that help one in analysing raw data and using it to drive digital transformation. This would help the organization to make optimal use of the data on hand and customize their services in a way that would give the customers exactly what they are looking for. Companies today have learnt that simply storing data upon receiving it is not enough as they need to analyse this data in order to gain useful insights to make decisions prompting business growth.

Using the data analysis solutions that Fusion Informatics provide have proven very useful. These analytics are used in reducing overhead and production costs and have also been used to make qualitative improvements to the organizations. Data analytics has become the core driving force behind digital transformation and without it the companies that exist today will not be able to survive after another 50 years.

It is no big surprise that machine learning/ artificial intelligence has increasingly gained more popularity in the past couple of years. In the digital era, data is rapidly expanding and so is the need of analyzing and understanding this huge data for making right decisions. Big Data arrives as the hottest trend in the IT sector at the moment; machine learning is an incredibly powerful tool to make predictions or calculated suggestions based on large amounts of data. Most common example of machine learning is ecommerce websites algorithms to make product suggestions based upon the choices made by you as a customer.

What is machine learning? In simple terms, Machine learning is the practice of educating a computer about finding patterns and making connections to understand huge amounts of data. So in order to finish a given task, the machine does not use any programming software and instead of doing that it looks at the Big Data and algorithms to find out patterns for accomplishing it. Machine learning enables applications to look for patterns in the data, think and make wise decisions in the future.

Why Machine Learning is Relevant Today?

Machine Learning solutions are serving to a variety of sectors for optimizing organizational processes such as:

Automotive & Manufacturing: Identifying and navigating roads and obstructions in real-time for autonomous driving, Predicting failure and recommending maintenance on vehicle components, predicting outcomes and minimizing R&D costs, optimizing manufacturing costs are some of the tasks performed by machine learning.

Health-Care: Machine learning helps in diagnosing known diseases from scans, biopsies, audio, and other data. It is also useful in predicting personalized health outcomes to optimize recommended treatments. Machine learning can evaluate doctor’s performance and provide outcome-improving feedback.

Finance: Machine learning is extremely useful in identifying fraudulent activities using customer transactions and other relevant data as well as it is quite helpful in discovering new trends, risks and benefits for predictive analytics.

Telecom: Machine learning can predict lifetime value and risk of churn for individual customers. It is used to allocate the resources, make radical personalization for individual prospects, and forecast demand trends.

Retail and E-Commerce: Machine learning is used for product recommendation, price and product optimization, demand and supply optimization, making customer support a better experience in terms of precision in delivering solutions.

At fusion informatics, our machine learning services deliver solutions that are focused on enabling personalized and engaging customer experiences as well as optimizing organizational processes.

With the advent of network driven systems imbibed in our lifestyles, data has become the core of all services. Raw data available in massive multitudes serves as the basis of information which can be converted into knowledge that further provides value to all businesses. This chain is of utmost significance as it is shaping the way we are producing and consuming products and services day in and day out.

Data science is our era’s new fad and can be understood as a systematic process of obtaining insights into terabytes of information gathered over the last few years. It makes use of big data i.e. high volumes of structured and unstructured data for its analytical purposes. And just like any other scientific process, data science also involves identifying a problem, formulating hypotheses and conducting studies to determine the presence of a certain phenomenon.

Applications of this genius baby of computer science and maths are plenty. It has given rise to data intelligence, an analysis of various forms of data in such a way that it can be used by companies to expand their services or investments, or to analyze their own operations or workforce to make better decisions in the future. It can be used in the field of social science to determine what triggers reactions in people and how, in economics to understand how process fluctuate due to monetary reforms, in engineering to identify new methods of creating materials and products, in law to conduct trend analysis and develop frameworks, and so and so forth.

Data science thus plays a vital role in improving the quality and relevancy of daily processes ingrained in our lives. It runs on analytical creativity and looks out for future needs even before they’ve arrived. All big businesses like Netflix, Amazon, Procter & Gamble, etc have understood that data science is not something to be ignored but rather to be embraced and adopted. It’s time we all do too.