MyPage is a personalized page based on your interests.The page is customized to help you to find content that matters you the most.


I'm not curious

Role of Machine Learning in Finance

Published on 21 December 17
251
1
0
Role of Machine Learning in Finance - Image 1

Machine Learning (ML) is expected to bring some interesting changes to the world of technology. It is a subset of artificial intelligence and computer science that allows software applications to be more accurate in predicting results. The prime objective of Machine Learning technology is to create algorithms that leverage statistical analysis to predict an acceptable output value.

Machine Learning can make an app according to personal needs of every user. By adding Machine Learning to an app, we can attract new users and build more stable and strong connection with old customers.

Machine Learning can do so many tasks, and along with that, improve the user experience. Here are some of the tips and ideas on how we can wield Machine Learning technology in mobile application development and make it even better.

Customization:

The aim of personalization is to make user feel homely every time they use an app. The main aim of Machine Learning is to make a mobile app convenient and manageable for each user personally.

If users get the most relevant and interesting content in an app, in line with their preferences, they would certainly like the app, and keep up with the updates and notifications. This way it becomes easier to pitch a sales proposal to them, as they are already acquainted with your business, which means a considerable increase in the chances of making a deal.

Make Searches Faster and Easier

Now it is easy to collect customer data, such as click-through rate, sell-through rate, web traffic, bounce rate, user search history and more.

Machine Learning has so many types of tools, which provide the most relevant information to users by adding rankings, spell checks, voice searches, suggestions, relevant requests; making it easier for users looking for a particular information, compared to the impossibility of finding specific data in an ocean of web pages..

Machine Learning brings more customers to an app by following means:

  • Recommendations based on users’ purchase patterns, search requests, type of products they usually buy, amount they usually spend in a time period, and more.

  • Predict future trends, sales, and prices from data extracted from open-source information pools like blogs, social media, news articles etc.

  • Expansion in loyal and new customer base with personalization options.

Role of Machine Learning in Finance Apps:

Technology giants as Google, Amazon and Facebook, use Machine Learning in finance for solving and simplifying a range challenges and complexities. Using Machine Learning in apps to automate financial operations can result in highly efficient outputs; more than humans could ever deliver. Machine Learning can rapidly analyse big sets of data and modify itself on purpose to make better and faster decisions in real time.

Here is how Machine Learning helps in optimizing financial operations:

Prediction

Machine Learning systems can analyse huge amounts of data, including clients’ financial status, their behavioural patterns, market changes, upcoming trends, efficiency of an app and so on, and suggest ways to use this information to yield more profit.

Customer Service and Assistance

With the help of Machine Learning, chatbots can deployed on websites or apps, which are capable of completely replacing humans in terms of query resolution and predicting the next course-of-action. The simplest way to configure chatbots for basic support is by equipping them with response-based replies or auto-replies.

Conclusion:

As you can see, Machine Learning is an innovative technology that is useful for any kind of mobile app, and not only for financial app. To automate your business with Machine Learning and get the best applications of Machine Learning mobile apps, Contact FuGenX Technologies. FuGenX is the best mobile app development company Canada. FuGenX provides services on Android, iOS (iPhone and iPad), Blackberry and Windows app development.

Role of Machine Learning in Finance - Image 1

Machine Learning (ML) is expected to bring some interesting changes to the world of technology. It is a subset of artificial intelligence and computer science that allows software applications to be more accurate in predicting results. The prime objective of Machine Learning technology is to create algorithms that leverage statistical analysis to predict an acceptable output value.

Machine Learning can make an app according to personal needs of every user. By adding Machine Learning to an app, we can attract new users and build more stable and strong connection with old customers.

Machine Learning can do so many tasks, and along with that, improve the user experience. Here are some of the tips and ideas on how we can wield Machine Learning technology in mobile application development and make it even better.

Customization:

The aim of personalization is to make user feel homely every time they use an app. The main aim of Machine Learning is to make a mobile app convenient and manageable for each user personally.

If users get the most relevant and interesting content in an app, in line with their preferences, they would certainly like the app, and keep up with the updates and notifications. This way it becomes easier to pitch a sales proposal to them, as they are already acquainted with your business, which means a considerable increase in the chances of making a deal.

Make Searches Faster and Easier Now it is easy to collect customer data, such as click-through rate, sell-through rate, web traffic, bounce rate, user search history and more.

Machine Learning has so many types of tools, which provide the most relevant information to users by adding rankings, spell checks, voice searches, suggestions, relevant requests; making it easier for users looking for a particular information, compared to the impossibility of finding specific data in an ocean of web pages..

Machine Learning brings more customers to an app by following means:

  • Recommendations based on users’ purchase patterns, search requests, type of products they usually buy, amount they usually spend in a time period, and more.

  • Predict future trends, sales, and prices from data extracted from open-source information pools like blogs, social media, news articles etc.

  • Expansion in loyal and new customer base with personalization options.

Role of Machine Learning in Finance Apps:

Technology giants as Google, Amazon and Facebook, use Machine Learning in finance for solving and simplifying a range challenges and complexities. Using Machine Learning in apps to automate financial operations can result in highly efficient outputs; more than humans could ever deliver. Machine Learning can rapidly analyse big sets of data and modify itself on purpose to make better and faster decisions in real time.

Here is how Machine Learning helps in optimizing financial operations:

Prediction

Machine Learning systems can analyse huge amounts of data, including clients’ financial status, their behavioural patterns, market changes, upcoming trends, efficiency of an app and so on, and suggest ways to use this information to yield more profit.

Customer Service and Assistance

With the help of Machine Learning, chatbots can deployed on websites or apps, which are capable of completely replacing humans in terms of query resolution and predicting the next course-of-action. The simplest way to configure chatbots for basic support is by equipping them with response-based replies or auto-replies.

Conclusion:

As you can see, Machine Learning is an innovative technology that is useful for any kind of mobile app, and not only for financial app. To automate your business with Machine Learning and get the best applications of Machine Learning mobile apps, Contact FuGenX Technologies. FuGenX is the best mobile app development company Canada. FuGenX provides services on Android, iOS (iPhone and iPad), Blackberry and Windows app development.

This blog is listed under Development & Implementations , Data & Information Management and Mobility Community

View Comment (1)
Post a Comment

Please notify me the replies via email.

Important:
  • We hope the conversations that take place on MyTechLogy.com will be constructive and thought-provoking.
  • To ensure the quality of the discussion, our moderators may review/edit the comments for clarity and relevance.
  • Comments that are promotional, mean-spirited, or off-topic may be deleted per the moderators' judgment.
  1. 21 December 17
    0

    Machine learning is a method of data analysis that automates analytical model building. It is a branch of artificial intelligence based on the idea that machines should be able to learn and adapt through experience. https://whatis.ciowhitepapersreview.com/definition/machine-learning/

You may also be interested in
Awards & Accolades for MyTechLogy
Winner of
REDHERRING
Top 100 Asia
Finalist at SiTF Awards 2014 under the category Best Social & Community Product
Finalist at HR Vendor of the Year 2015 Awards under the category Best Learning Management System
Finalist at HR Vendor of the Year 2015 Awards under the category Best Talent Management Software
Hidden Image Url

Back to Top