“But say to it ‘here are naughty people who have defrauded insurance companies, and here are their characteristics,” he says. Business intelligence tools have used cluster analysis for years, finding clumps of data points close together to identify strong sales of Burberry caps in Romford, say. “Data mining is perfectly capable of doing machine learning,” he says, using cluster analysis as an example. The ability to work with unstructured data is one characteristic of machine learning, but we can also apply this branch of AI purely to structured data sets, explains Mark Whitehorn, professor of analytics at Dundee University, who also writes for The Register. “You’re trying to understand more layers of what that person’s relationship is with your organization and what it could be.” “It all helps the wealth manager build a better picture of their customer without spending hours poring over their communication history,” suggests Landers. It’s more difficult when you’re preparing a thousand client meetings for your army of wealth management professionals that week.Ī dynamic segmentation algorithm might use all of this data to understand just how aggressive that client is likely to be in their trades, and suggest ETFs and mutual funds accordingly. Sentiment analysis is easy when you’re gawping in disbelief over the latest Trump tweet. So an AI-enhanced analytics system might surface client sentiments that they aren’t revealing to the advisor, or perhaps even aware of. Then you start layering in things like personality insights,” says Landers. “Now you’re expanding that data set outside of the organization. That might help when rebalancing their assets.Īn AI system might go further, though, exploring emails written to the advisor, along with social media posts on the client’s account, and could even factor information about life events that the client is experiencing. Using conventional structured analytics, a financial advisor might visualise a customer’s trades and investments over time, offering useful information about their investment yields and the level of attention they pay to their account. “Combining analytics with AI can help workers in the finance sector by bringing unstructured and structured information together,” explains Landers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |