5 Reasons Why AI Advisors Won’t Help You with Trading
The financial sector has been rapidly adopting artificial intelligence (AI) technologies, particularly generative AI and large language models (LLMs), to enhance various aspects of operations and customer interactions.
For instance, banks are leveraging AI to automate manual processes, enhance data analysis, and personalize customer interactions, improving operational efficiency and customer experience.
Moreover, AI is increasingly used to analyze vast amounts of data for detecting suspicious activities and transaction patterns.
AI technologies are also deployed to improve customer engagement through chatbots, virtual assistants, and recommendation systems.
According to NVIDIA’s fourth annual State of AI in Financial Services Report, an overwhelming 91% of financial services companies are either assessing AI or already using it in production.
The report revealed that 37% of respondents showed interest in using AI in report generation, synthesis, and investment research to cut down on repetitive manual work.
Customer experience and engagement was another sought-out use case, with a 34% response rate.
The most popular uses for AI were in operations, risk and compliance, and marketing.
Furthermore, financial institutions are using AI to automate manual processes, enhance data analysis, and inform investment decisions, improving operational efficiency.
Overall, the survey found that 97% of companies plan to invest more in AI technologies in the near future.
Some traders have recently turned to AI for price analysis and prediction.
Finbold, a financial news and analysis platform, has been actively utilizing AI to provide price predictions across various assets, including cryptocurrencies.
The media outlet provides daily and weekly
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