Application of artificial intelligence and blockchain technology in digital banking
Artificial intelligence (AI) and Blockchain technology are two groundbreaking technology trends in the current era. Therefore, to keep up with the pace of social development, all sectors have continuously promoted the application of these two technology trends in operating and production processes. And obviously, without exception, the finance and banking industry has also changed significantly and created many new opportunities when integrating artificial intelligence and Blockchain technology into its operating and business model.
1. Artificial intelligence (AI) technology in digital banking
Artificial Intelligence (AI) is a technology platform that is growing strongly and has great potential in the current digital age. With the ability to learn, reason, think, solve problems, recognize speech, images and natural language, AI technology is used to increase production efficiency, reduce costs, and improve processes. operating processes, optimizing operating processes, enhancing automation systems... In simple terms, AI will perform intelligent tasks that previously only humans could do. With the development of algorithms and technology, AI has become an important tool in many fields, from health, transportation, finance to education and many other fields.
Artificial intelligence can be used to develop virtual assistant software or chatbots to interact with customers. Thanks to its natural speech and language processing capabilities, this software will be set up to answer users' questions and concerns, and provide support services in the fastest time, depending on the situation. the speed at which AI technology is applied. This helps businesses, especially companies and organizations operating in the service sector, to upgrade service quality and bring better consumer experiences to their customers.
With the digital banking operating model, customers do not need to go directly to bank branches to make transactions, but can instead register online at home. This is also difficult for first-time users, especially the elderly. Therefore, banking businesses have integrated AI technology and developed virtual assistant software on applications to solve problems that users encounter as quickly as possible. In addition, with support from virtual assistant software, the process of operating and providing financial services will not be clogged or overloaded, reducing the business's workload and staffing costs. .
Enhanced security
Besides, artificial intelligence can also be used to detect and prevent fraudulent activities in digital banking. Established AI algorithms will analyze data, identify suspicious behaviors, and with image and voice recognition capabilities, easily detect and prevent fraud and cyber attacks. network transmission.
Currently, forms of fraud and property appropriation are becoming more sophisticated and diverse. In particular, taking advantage of the development of technology and techniques, anonymous objects are gradually shifting their "activity" direction and targeting users on media and social networking systems. Therefore, businesses in the financial sector must always apply the most advanced and outstanding technologies to ensure that customers' assets and personal information are absolutely confidential and safe. At the same time, remind consumers to increase vigilance and be careful with unfamiliar links and websites
Data analysis
Artificial intelligence can analyze and process large amounts of data in a short time. At the same time, solve complex problems and make smart decisions based on analyzed data. For banking fields, the parameters, reports, and financial data will be quite large. Without support from science and technology, it is very difficult for people to analyze directly by themselves. completely and accurately. Therefore, this is also an industry where businesses have to invest a lot of money in using analytical technologies.
In addition, AI can find potential future patterns and trends, create solutions, and make smart decisions for real problems. This will help businesses, especially financial businesses, know more important information to respond promptly in today's constantly changing and changing market. In addition, thanks to its analytical capabilities, AI will help businesses understand more about customers' preferences and needs, as well as provide practical advice and solutions to improve user satisfaction and create create real value for the organization.
Blockchain technology in digital banking
Blockchain technology has become one of the prominent keywords in the modern technology revolution. Launched in 2008 by an anonymous person or group of people under the name Satoshi Nakamoto, Blockchain has changed the way we think about data management and transactions.
Blockchain is a distributed and secure technology, built on a network of interconnected computers. The outstanding feature of Blockchain is the immutability and transparency of data. Each transaction is recorded and linked together in an immutable chain. This helps create an impenetrable and secure system. Blockchain has the potential for wide application in fields such as supply chain management, real estate, healthcare and many other industries. With its decentralized and secure nature, Blockchain can help increase transparency, reduce risk and create fairness in processes and systems.
Blockchain technology allows banking transactions to be performed quickly and securely. Instead of having to go through many intermediaries, transactions on Blockchain can be performed directly between parties. With the operating model of conventional financial services, customers will have to wait for the transfer of each department to be able to solve the problem they are facing. This not only clogs the operating process but also increases the workload, leading to a decline in staff performance. From there, poor service quality will make customers no longer satisfied and trust the business's products and services. However, if there is a contribution from new science and technology such as Blockchain, customers will be responded to and directly receive quick and timely advice.
Especially for digital banking applications, because all user activities are done at home, they will easily encounter problems. Therefore, businesses operating digital banking service models will promote the use of Blockchain technology so that their customers receive the best support service.
Blockchain technology has created a breakthrough in the field of finance and trading. This technology uses strong encryption and authentication mechanisms to ensure data security. Each transaction is recorded on linked blockchains, making data alterations difficult and easy to detect. This feature is considered a perfect solution for the financial and banking sectors in protecting customers' assets and personal information. It has helped reduce the risk of fraud and costs associated with transactions, while creating trust and transparency for participating parties.
As the situation of fraud and property appropriation is increasing, businesses providing financial services must be more vigilant to ensure the rights of users. Bad actors will rely on technical loopholes to develop online attacks. And obviously, to solve scams like this, we can only use high-tech techniques such as Blockchain, IT Artificial Intelligence,...
In addition, with the unmodifiable feature, transactions through digital banking applications will not be fraudulent. At the same time, it allows you to check and make detailed statements, avoid errors, and increase transparency between users. With some modern digital banks today like TNEX, you can absolutely sign up to receive monthly transaction reports to control your cash flow most fully and accurately.
summary
It can be seen that the application of artificial intelligence and Blockchain technology in digital banking has opened up a future full of potential and opportunities for the financial industry. The combination of these two technologies has created significant improvements in the delivery of financial services, increased security and created a better customer experience. Hopefully, these two outstanding new technology trends will be increasingly applied in most fields, not just finance and banking.
