Chatbots in banking sector, and their uses

Over the past few years, AI and machine learning applications have managed to enter every aspect of life: speech recognition to social media, retail to radiology, course advancement to mechanical technology and that's just the beginning.

One of the significant advancements that demands mention is the job of AI in education and learning.Artificial Intelligence is making revolutionary changes and improvements with virtual learning solutions that present a novel approach in granting education to students with varied capacities and interests.Areas where AI can help the Education SectorEducation aligns the base for human conduct.

The educational ecosystem is enormously influenced by AI and virtual assistants.

While the debate in regards to the suitable screen time for kids is as yet seething on, machine learning and AI are good to go to change the eventual future of education tools and techniques.Here are the areas where AI can help the education sector:Educator and AI collaborationWith the development of AI in the educational field, it is required to fill the gaps in learning, driving effectiveness and personalization in the educational framework.

It uses the best attributes of teachers and machines, bringing the best outcome for students.Differentiated, individualized learning AI-powered virtual assistants enable the customization of curriculum depending upon a student's ability to learn, which is generally impossible by a traditional system.

It can adjust learning and a level of differentiation, in contrast to the ordinary framework.Creation of smart content Advanced AI capabilities can be put to use in the formation of advanced digital textbooks and learning digital interfaces, pertinent to students in various grades and age groups.Use Cases of AI in Education:Versatile Learning The teacher handling a class of students finds it impossible to dedicate so much time to one student alone.

Chatbots are becoming a part of normal digital life, as they enlarge on messaging platforms and are launched as digital supporters by the largest technology companies.

There is a varied range of chatbots available to help you check finance dealings or the weather, establish travel or buy goods.

In a point of technical view, a chatbot only indicates the natural development of a question and answering system called Natural Language Processing (NLP).

Formulating replies to questions in natural language is one of the most characteristic Examples of Natural Language Processing useful in various enterprises’ end-use applications.

Best AI-Powered Chatbot AppsLark – a Smart Fitness Coach plus NutritionistLark is a familiar, conversational, smart and interactive modern fitness app used to track your health and fitness.

This is a goal-oriented chatbot, which can serve as your happiness buddy at tough or demanding times.

We are living more and more of our lives online every day.

Banking is certainly following this trend.

In the US, more than 70 percent of people do at least some of their banking online.

More than half of all web traffic now comes from mobile devices, and traffic to financial institutions isn’t far behind.The general consensus is that while the risk is low when it comes to banking, security does depend to some extent on consumers—many of whom don’t do what they should be doing to keep their phones safe from attack.

As a result, experts say, banks could do a better job educating consumers about cybersecurity issues.

The Wall Street Journal invited three experts to discuss these issues: Joseph Carrigan, a senior security engineer at Johns Hopkins University; Emmett Higdon, director of digital banking at Javelin Strategy & Research, a subsidiary of Greenwich Associates; and Peter Wannemacher, a digital banking analyst at consulting firm Forrester Research.Is Mobile Banking Safe?

It's important for AI chatbots that needs to be smart for aware the user needs and act a relevant source of solution that convinces to the user. So while developing a chatbot here are 4 primary needs to be consider. For more details- https://bit.ly/2GUU0a6