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Artificial Intelligence: Practical Superpowers

Posted By Administration, Saturday, June 2, 2018
Updated: Friday, June 1, 2018

Artificial Intelligence: Practical Superpowers
The Case for AI in Financial Services in Africa
FIBR, MasterCard Foundation, BFA

While admittedly often overshadowed by hype, Artificial Intelligence (AI) today offers real opportunities for financial sector players to access new and augmented business abilities. Wielded well, AI can unlock data to reveal insights about customers, operations and businesses to inform key decisions. Sensors in smartphones also open up a whole new world of data as captured through images, text, sound and location, which AI can translate into information in real-time and with high fidelity. These kinds of advancements in the field are especially exciting for financial sector players in Africa, with real-use applications in the informal retail sector, and for businesses that rely on last-mile distribution networks, such as pay-as-you-go (PAYGo) providers,1 to reach their customers. Grounded in creating a practical and compelling case for financial services providers (FSPs) in Africa, we present an overview of AI and its benefits to businesses -- lowering costs, increasing revenue and competing in a changing market -- that could ultimately enable a more customer-centric financial ecosystem.

Read the full report here.

Tags:  2018  africa  finance 

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