The Use of AI in Finance

June 30, 2020

It seems that we have entered an age where cyber security can’t become reliable without AI. Artificial intelligence is slowly taking over almost every segment of our lives and cyber security is only one of many fields that it is exceptionally good at. Tedious manual researches have been replaced with automated web investigations that are becoming more and more reliable thanks to artificial intelligence. It is now more than clear that big data can indicate various problems in our society but also help identify the perpetrators and prevent incidents or crimes even before they take place.

Automate Your Due Diligence

Business opportunities come and go, but once you find one, you will want to act fast before it slips away. Doing some serious research in these situations is a must, but most of the time these tasks are performed manually. This slows down the process of evaluation/investigation so many companies are turning to AI for help. If we look into Cobwebs web investigation platform, it is easy to notice many advantages that it brings to the table:

  • Easy-to-Use
  • Automated Network Analysis
  • AI-Driven Insights
  • Discover Hidden Information
  • Live Monitoring
  • Safe and Secure

With the power of artificial intelligence, many companies can now speed up their due diligence process and make better business decisions because of this. Many perks of AI and automation are often overlooked so let’s take a closer look at some key features.

The Importance of AI in Finance

The concept of artificial intelligence is still a mystery for many uninformed individuals so it is worth mentioning that there are quite a few common misconceptions about this technology. In this particular case, you would expect AI to pretend to be a financial investigator when in reality, it simply is a financial investigator.

Access to big data gives insights into many different patterns and clusters of information. Just by looking at this information, artificial intelligence is able to draw conclusions and point out possible risks in a matter of minutes, while manual work would require days or even weeks of research before propper insight is gathered. Live monitoring gives companies peace of mind because their portfolio is under constant surveillance. Any change, small or big, can be identified immediately and resolved much faster than with manual labor. AI makes sure that your portfolio is under maximum security at all times without the need for extra staffing and constant human monitoring.

Be Aware of The Risks

With the help of AI-driven tools, it is easy to conduct UBO discovery and identify front-man/money mule threats along with other network risks that could possibly be involved. Instead of exhausting your staff members with long and detailed investigations, you can put your trust in artificial intelligence and get so much more as an end result. Not only would you have complete insight into your possible clients or business partners, but you would also get valuable AI-driven insights that would help your company gauge reputation risk, identify negative trends and gain access to information that is almost impossible to obtain with manual work.


Conclusion

Artificial intelligence is slowly proving to be our best ally when it comes to cyber crime. If you take Cobwebs Technologies as an example, you can see how rapidly this technology can progress. Cobwebs’ AI Solutions are capable of going through infinite amounts of data from the web’s various layers and mobile apps and sending valuable insight in return. Artificial intelligence can filter out irrelevant information and identify patterns faster than any human so it should come as no surprise that it is taking over surveillance and crime prevention. Reaction times are much faster while accuracy and security are improved drastically.

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