Big Banks Learning to Love A.I.
While not historically associated with technological advances like other industries, the financial sector has come around to artificial intelligence for a variety of reasons. AI can quickly comb through massive amounts of data, making certain tasks that would previously have required extensive human labor. The result is something that any business can embrace – extensive cost savings, projected by Autonomous to be $1 trillion by 2030.
Fraud is extremely costly to banks – HSBC coughed up roughly $1.9 billion in 2012 following allegations of allowing cross-border money laundering from drug cartels, while ING paid $900 million in 2018 after admitting that criminals had used their accounts for similar purposes. AI could have helped detect the kind of behavior that would have been difficult for a human to pick up on in an ever-growing sea of transactions, creating valuable financial savings – not to mention a way to avoid a PR nightmare.
Additionally, AI can minimize false positive fraudulent transactions by automating decision-making about those transactions based on data, growing steadily more perceptive with the more information it analyzes. AI can mitigate human error that would have otherwise adverse effects on business – Amy Zirkle, a global payments expert with the Electronic Transaction Association, touted AI as a chance to be “two steps ahead” regarding security, allowing for “a healthy payments ecosystem, one that is viable, one that is sustainable, one that customers come to with trust and confidence.”
AI can also create the kind of personalized customer experience that engenders long-term loyalty (and increases profit). Its ability to aggregate data across banking systems, then intelligently derive insight from it allows for individually tailored, seamless experiences. Chuck Monroe of Wells Fargo Artificial Intelligence Enterprise Solutions explained to AZBigMedia that AI allows banks “to more efficiently analyze” the masses of data in their possession and “pull key insights, often in real-time, to deliver personalized guidance to customers in the moment, wherever they are.” This means banks can offer personal advice, anticipate customer needs, and “[offer] them something they value, to make their lives easier” – especially with customer service, where AI can ask big picture questions and free employees to handle situations better suited for human-to-human interaction.
By augmenting existing functions and processes with artificial intelligence, banks are becoming smarter and more efficient, making customers happy, and growing profits. Fraud, personalization, and customer support are just a few of the many areas that AI can help banks. The financial sector is learning to love AI, and both business and customer are better for it.
The Investment and Financial Industry Faces the Same A.I.-Driven Revolution
Hedge funds and large institutional investors have been using Artificial Intelligence to analyze large data sets for investment opportunities, and they have also unleashed A.I. on charts to discover patterns and trends. Not only can the A.I. scan thousands of individual securities and cryptocurrencies for patterns and trends, and it generate trade ideas based on what it finds. Hedge funds have had a leg-up on the retail investor for some time now.
Not anymore. Tickeron has launched a new investment platform, and it is designed to give retail investors access to sophisticated AI for a multitude of functions:
- Finding stock patterns in the market
- Finding trends in the stock market
- Testing portfolios to see if they are well-diversified
- Back-testing statistics to see how different stock patterns generated trading results
- Making Predictions for price movements in the future, with “A.I. Rank” and level of confidence in the trade.
- And much more. No longer is AI just confined to the biggest hedge funds in the world. It can now be accessed by everyday investors. Learn how on Tickeron.com.
IYF in downward trend: 10-day moving average crossed below 50-day moving average on April 19, 2024
The 10-day moving average for IYF crossed bearishly below the 50-day moving average on April 19, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where IYF declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where IYF's RSI Oscillator exited the oversold zone, of 28 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 24, 2024. You may want to consider a long position or call options on IYF as a result. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for IYF just turned positive on April 25, 2024. Looking at past instances where IYF's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
IYF moved above its 50-day moving average on April 22, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where IYF advanced for three days, in of 366 cases, the price rose further within the following month. The odds of a continued upward trend are .
IYF may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 354 cases where IYF Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
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Category Financial