Numerous theories center on the notion of AI eventually gaining control over human civilization. This idea may appear plausible, particularly when considering the common science fiction motif of endowing immense power to AI and robots. However, examining the factual capabilities of this technology and its current applications, it becomes evident that such a scenario is not feasible. Overall, it is important to separate fact from fiction and to understand the limitations and capabilities of this ...

In recent years, the use of recommendation systems has become ubiquitous in various fields, and it is changing the way people make decisions. This phenomenon is especially evident in consumer-facing industries, where recommendation engines are becoming increasingly essential for companies to keep up with rising client expectations, handle information overload, and reduce costs.

While people tend to associate AI with robots and science fiction, it is already integrated into our daily lives. Recommender systems, which more than half of online consumers rely on for product recommendations, are essential for online commerce and serve as a prime example of AI in action. AI has been present for 50+ years and has various applications, with recommender systems as a crucial one.

An AI Recommender System suggests products or services based on user data, which includes their preferences, past purchases, demographic information, and the behavior of similar users. It brings a convenient way for e-commerce companies, retail stores and even banks to offer personalized solutions to their customers. The type of AI recommendations offered depends on the data available, the ability to scale, and the transparency of the recommendations.

Fintech is a term that has been coined by Peter Knight, an editor for the Sunday Times business newsletter in the 1980s, however, the term was fully adopted as a common term as recent as 2007. Fintech is a combination of two words “financial” and “technology”. Hence financial technology, in its core, is the set of algorithms and software that is utilized to provide financial services to consumers to better manage their financial operations and processes, establish new channels for transactio...

Since the year 2010, not so long ago in human history but quite outdated in technological terms, the banking sector underwent a shift to a new era where banking has become as easy as the tap of a button on your smart phone. What we call internet banking today, has gone through an incredible development journey that goes back to the 1970s…   Let us explore this journey and highlight the key milestones of internet banking.

To understand how Artificial Intelligence is becoming increasingly important in the business world we must first introduce two terms that are machine learning and deep learning, which are becoming of paramount importance to maintain competitive advantage in today’s rapid markets.

Customer Relationship Management is of paramount importance for any business that seeks to thrive in today’s, extremely volatile, markets. Does your business have a CRM? If you aren’t already utilizing this crucial software, then this article may well change your mind. For a business to appreciate the benefits of a CRM you would first need to understand what a CRM is. Customer Relationship Management, hence CRM, is a state-of-the-art software that allows businesses and organizations to man...

Netiks International has been developing CRM solutions for a variety of industries like banks, insurance companies, educational institutions, and governmental sectors long enough to assure you that choosing a Customer Relationship Management (CRM) software for your business can feel very overwhelming. With so many options like Microsoft Dynamics 365, Salesforce, and Zoho, each having different feature and tool sets priced at different ranges, businesses struggle to identify which CRM best suits ...

Microsoft Translator which is part of the Microsoft Cognitive services launched in 2015 has leveraged AI technologies to enable businesses to translate between more than a 100 languages and dialects.