No-code is hot. AI is hot. But what happens when you bring the two together specifically for financial services sectors? You get the future of fintech at your fingertips and a movement that will transform financial services in the coming years.
Accern’s AI Marketplace is the first to offer financial services AI-based adaptive learning capabilities, demonstrating that a new market leader on the forefront of putting artificial intelligence in everyone’s hands is clearly emerging. The AI Marketplace allows data scientists and business analysts to empower their business functions with over 400 ready-made AI use cases powered by adaptive natural language processing (NLP) and forecasting features to automate manual workflows and enhance decisions. Financial teams utilizing the AI Marketplace can cut costs, generate better risk and investment insights, and experience a 24x gain in productivity.
No Code development, AI and machine learning are becoming the main drivers of digital transformation in fintech services and financial enterprises. Within two years, we can expect global adoption of AI in the financial industry. In other words, financial services that do not jump on board will find themselves at a significant competitive disadvantage.
Use cases from the AI Marketplace are out-of-the-box solutions for financial services. Financial teams can immediately deploy a specific use case which provides an immediate solution. Accern offers over 400 ready-made use cases on the new marketplace for financial services such as asset and wealth management firms, insurance companies and banks. Use cases include, but are not limited to, insights on Credit Risk, ESG behaviors, COVID-19, Anti-Money Laundering Analytics, Mergers and Acquisitions, and more. These ready-made use cases are backed by AI and adaptive NLP (natural language processing) to allow financial service teams to quickly research, summarize, and extract data, and gain investment insights and manage risk.
Here’s an example of how such a use case could be deployed for asset managers. Investors are increasingly looking to invest in companies with strong ESG (Environmental, Social and Governance) portfolios, as strong ESG indicators can result in long-term portfolio growth. A financial analyst at an asset management firm would normally spend hours manually researching and extracting information from structured and unstructured data sources such as company news, social media sites, reviews, blogs, corporate social responsibility initiatives, and more to dig through a company's ESG practices. Analysts would then use these insights generated from research and extraction to deliver data-driven insights, recommendations, and reports to asset managers.
With unstructured content making up most of the data on the Internet today and growing at an alarming rate, long hours are spent on manual data research and extraction processes. Due to the volume and velocity of data today, the analyst becomes fatigued from the manual labor and can miss important data at the speed at which it is generated, which often results in inaccurate insights.
Accern's ESG Alerts use case provides a solution for the analyst's fundamental research processes. The ESG Alerts use case enables the analyst to immediately generate insights on a company's ESG practices, without having to perform all of the manual research and extraction processes. Additionally, the analyst can receive ESG insights in real-time, instead of having to continuously monitor a company's ESG and corporate social responsibility activities. The analyst's ability to eliminate manual research and extraction processes with Accern's ESG Alerts use case results in a 24x productivity gain.
“The AI Marketplace is a testament of Accern’s mission to democratize the use of AI and accelerate innovation for financial enterprises,” said Kumesh Aroomoogan, co-founder and CEO of Accern. “Non-technical business researchers and analysts can deploy over 400 AI-powered natural language processing (NLP) models 3000x faster now, providing the quick and accurate solutions that banks, insurance companies, and hedge funds need across underwriting and distribution processes, portfolio construction and surveillance.”
Headquartered in New York City, Accern enhances AI workflows for financial service enterprises with a no-code data science platform. Researchers, business analysts, data science teams, and portfolio managers use Accern to build and deploy adaptive Natural Language Processing (NLP) models with artificial intelligence (AI). The results are that companies cut costs, generate better risk and investment insights, and experience a 24x productivity gain with our industry-leading NLP solutions. Allianz, IBM (News - Alert), and Jefferies utilize Accern to build and deploy AI solutions powered by our adaptive NLP and forecasting features.
The future of no-code AI solutions is here, with Accern leading the way.
