Would you Employ Artificial Intelligence at Your Bank?

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Usually, when people hear someone saying “artificial intelligence”, they probably think of the robots, the machines that have the shape of a human, which can speak, walk and do the things for us.

Aren’t we afraid of the future, which we see in science fiction movies, and somehow presume that one day this will be a reality, and all of these machines will destroy us? All sceptics would agree with this notion.

The FOBISS Company was started with the idea to bring robotics science to business process management, to replace monotonous human work, in the same way as robots were introduced into manufacturing industries a few decades ago.

When we approach a retail bank and say that we have a great solution that would change the way they manage their ATMs and Branch networks, top managers listen carefully.

Bankers seek for innovations and improvement, they are striving for increased profitability and improved performance, but at some point the enthusiasm for this project becomes fear, and the resistance of organizational changes.

Even though cash provision is a very costly service with almost no possibility to gain revenues out of, most of the banks are still stuck with the manual or partly automatic techniques, which do not provide the cost saving capabilities they could.

The cash management area is the perfect place for artificial intelligence technologies to thrive. Operational processes and repeatable decision-making can be automated to reduce time and mistakes. People obtain more possibilities to explore more creative fields, instead of focusing on mechanical tasks.

Artificial intelligence, created by FOBISS scientists, comes in forms of forecasting and optimization algorithms, which are programmed to process huge amounts of historical and real-time data, to accurately predict the cash demand in every ATM and branch, to prepare cost efficient cash replenishment plans and to proactively control the whole process.

Todays’ modern technologies allow us to get answers with a single click of a button. So why not use them?

 

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