Fintech In The Life Of Every Person: What Is Worth Knowing About?

Nowadays, you can increasingly hear about such concepts as financial technologies, financial literacy, financial management, investments, bonds, and much more. Why this attracts people and what importance finance has in everyday life, you will read further in the article.

What is Fintech?

what-is-Fintech

Fintech (financial technology) means any innovation in the field of financial services that makes our relationship with money easier, faster, safer, and cheaper. This includes: software, applications, processes, and business models. With professional development of financial software and consulting, you will be helped here: fintech product development

Thanks to financial services, our lives are changing for the better right now and will change even more in the near future. Because it became clear that many different services, including financial ones, work much more efficiently and faster via the Internet: payment for services, money transfer, online purchase, and sale of goods.

Why should you ask about Fintech right now?

1) Financial technologies are growing and developing rapidly;

So, in the first half of 2019, the value of fintech transactions increased by 60% at once compared to 2018, and the companies received $ 22 billion in investments. And this market clearly follows the needs of society, and constantly offers us new solutions. And tech startups become real competitors for financial institutions.

2) It is easier to make money in a growing market than in a stagnating or falling one.

Artificial intelligence and robotics

Robotics and artificial intelligence are inseparable concepts in our time. These two directions are undoubtedly the most actively developing areas of science and technology. In fact, a robot is a machine that can perceive the surrounding reality, interpret it and act in a certain way, that is, think. Artificial intelligence is the ability of programs and devices to interpret data, learn from it and use the acquired knowledge to achieve goals.

AI systems have many directions for their development. These include: learning and self-learning, pattern recognition, games and machine creativity, software for AI systems, the development of intelligent information systems or knowledge-based systems, expert systems, intelligent robots, etc.

Special attention is paid to robotics. Today robots are used in our lives in various fields. They fly into space, help for military purposes, assemble cars, are used in industry, and help find new medicines.

Artificial intelligence technologies:

Computer vision: This is the processing of visual information to gain knowledge;

Natural language processing;

Speech analytics: This is speech recognition, speech synthesis, improving the voice qualities of the robot or program itself to the levels of human communication;

Decision making: Automation of processes that take place without human participation;

Recommendatory systems: This is an offer of goods and services, targeted advertising, a selection of movies and music, the creation of robot waiters or sales consultants.

As financial technologies improve, the role of Artificial Intelligence in robotics will only grow.

Prospects in the development of robots:

  1. The mobility of robots and their overcoming of obstacles will also equal the capabilities of human skills;
  2. A conversation with a robot will be indistinguishable from a conversation with a human;
  3. Robots will begin not only to communicate like people but will also be able to plan behavior taking into account the possible effect on others. In this way, they will develop social intelligence;
  4. Continuous exchange of information between robots will speed up the process of self-learning;
  5. They will be considered highly qualified specialists, for example, as salesmen or nurses.
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John Morris
John Morris is a self-motivated person, a blogging enthusiast who loves to peek into the minds of innovative entrepreneurs. He's inspired by emerging tech & business trends and is dedicated to sharing his passion with readers.

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