Kelvin Bowoto
AI is a rising technology that enables computers and machines to replicate human intelligence and problem-solving capabilities. AI applications are expanding into a wide range of fields.
The Instig Labs AI in Finance meet-up had participants at the interface of technology and finance, drawing up avenues to use this unique technology to boost the efficiency of the financial sector.
Participants at the event include IT and finance specialists from OpenBB, Risevest, and UBA, among others.
AI in finance improves the way people interact with money, helping the financial industry streamline and optimize procedures.
It contributes to insights in data analytics, performance assessment, prediction and forecasting, real-time calculations, customer service, intelligent data retrieval, and other areas.
Large financial institutions around the world are also using AI in their operations, with associated advantages.
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According to its website, J.P. Morgan has been screening payments for validation for more than two years using the underlying AI-powered large language models. It also improves queue management and reduces false positives to accelerate processing.
According to Deloitte, artificial intelligence provides an opportunity to alleviate some of the issues in today’s financial systems by automating data collection and other operations.
Instig Labs has been at the forefront of promoting AI usage to improve efficiency in a variety of fields. In November 2023, the company partnered with OpenBB, a major open-source investment research software platform, and Pav Finance, a quantitative asset management firm, to offer free eight-week investment research training to aspiring financial analysts.
In July 2023, Instig Labs partnered with technology firm S.L.O.T. Africa to present Nigeria’s first conference on music and data. The conference brings together professionals and stakeholders to discuss how these two professions might be combined to improve music creation, promotion, and accessibility in Africa.
Techrectory with Agency Report.
