In today’s digital age, AI-driven NLP allows consumers to manage more types of transactions than ever before. As customers increasingly prefer digital self-service and personalized, high-touch, automated services, AI-driven NLP has become a key component to enable scaling, optimization and competition.
Natural language processing (NLP), as a form of artificial intelligence , allows computers to process text and speech, interpret the meaning of words, sentences and paragraphs based on context, and respond accordingly. When integrated with deep neural networks, NLP can lay the foundation for conversational AI applications that are designed to talk to machines almost indistinguishably from humans.
What is natural language processing?
ABOUT NLP
NLP stands for "Natural Language Processing". A simple understanding is a technology that allows computers to accept input in the form of natural language, perform calculations and processes internally through algorithms, and ultimately simulate human natural language to return results to the user. To put it bluntly,
is to let the computer understand human speech and then respond. As the most important application field of AI, NLP covers a wide range of areas and can be seen almost everywhere in life.
In recent years, with the continuous promotion of AI, NLP is gradually being applied to various industries. Taking the financial industry as an example, NLP is providing new services and support to various financial institutions.
AI financial services based on NLP technology provide future customer experience
ABOUT NLP
According to Gartner data, in 2021 alone, artificial intelligence enhancement will create US$2.9 trillion in business value and 6.2 billion hours of labor productivity globally. However, in In the retail banking field, 58% of digital business processing has not been completed and needs to be continued offline. The dramatic increase in customer service demands has created unprecedented opportunities for financial services to adopt AI-powered NLP. With this kind of NLP, financial services can not only increase operational agility, but also consistently deliver a personalized, frictionless experience across channels that meets customer expectations.
Conversational AI’s digital transformation not only brings higher income. When AI solutions are deployed, the operational costs of customer interactions drop significantly. This results in significant cost savings and key benefits that are not easily quantifiable: enhanced call centers, IVR, and real-time chat interactions with AI can speed up interactions and reduce workload so that agents can focus on meeting individual customer needs. High quality customer service. In addition, it can help them gain real-time insights into their personalized needs.
At the same time, because these AI solutions can measure customer sentiment and perform context-aware analysis of interactions, companies will experience improvements in quality control, problem resolution, and overall customer satisfaction. Additionally, applying AI-powered NLP to customer experience can provide opportunities for small businesses, senior citizens, and non-bank users to help bridge the digital divide.
The speed and quality with which AI is integrated into the customer journey and overall business will define the service team and customer experience of the future. By investing in enterprise AI capabilities and transforming customer experiences, companies will increase customer loyalty and increase new customer acquisition, thereby boosting profits and taking market share away from competitors.
AI financial services based on NLP technology can effectively prevent financial fraud
ABOUT NLP
According to the "2020 McKinsey Global Payments Report", consumers' online spending at U.S. retailers reached US$347 billion, an increase of 30% over the same period in 2019 , equivalent to 6 times the annual growth rate of the online retail sector in 2019.
Adding to this trend, mobile money transactions have expanded far beyond their original peer-to-peer (P2P) transfers and bill payments. The entire mobile money ecosystem now offers a wide range of services including wage payments, social security payments, savings, credit, insurance and international remittances.More than $1 billion in international remittances were processed each month in 2020, a 65% increase from 2019, according to the Center for Financial Inclusion.
The surge in transaction volume provides criminals with favorable opportunities to expand the scale of their fraudulent activities. Identity theft, chargeback scams, silence fraud, account takeovers and domain fraud are major threats to online shoppers and merchants.
Multimodal conversational AI accepts multi-domain queries (voice, text, or computer vision ) and determines which associated app or bot to use when replying. This eliminates the need for users to interact with different virtual assistants for different tasks, which increases the standardization of fraud detection and creates a superior experience for customers and employees. GPU provides the computing power needed for multiple deep learning (DL) models to work in parallel, achieving high-quality results within a low-latency budget. Leveraging machine learning (ML) and DL, the financial services industry can transcend the status quo with superior security and actionable insights to prevent fraud at scale.
NLP extracts signals from chat/voice/interactive voice response (IVR) interactions and uses them for fraud detection. NLP has been deployed in numerous use cases to detect fraud across multiple channels simultaneously by continually improving the way it identifies anomalies.
NVIDIA GPU becomes the acceleration engine of AI financial computing platform
ABOUT NLP
In 2012, the convolutional neural network AlexNet powered by GPU won the ImageNet competition, thus opening the modern AI era. GPU-accelerated computing has been at the heart of AI ever since. As a pioneer in GPU technology, NVIDIA is at the forefront of this process, and NVIDIA® CUDA-X AI has become the core of the AI computing platform. CUDA-X AI is a comprehensive software suite that enables complete end-to-end AI development, including data processing, training, and inference, and is optimized for a variety of AI models and frameworks.
NVIDIA DGX SuperPOD™ This solution is designed to overcome the critical challenges of large-scale AI and enable powerful multi-system training
NVIDIA DGX™ A100 system can handle a variety of AI workloads, including data analysis, training and inference. At the same time, a new computing density standard is set. For the first time, the NVIDIA A100 Tensor Core GPU can achieve outstanding acceleration for AI, data analysis and high-performance computing (HPC) to meet the most demanding computing challenges.
Financial services companies and fintechcompanies are deploying the NVIDIA AI platform to combat fraud, accelerate claims processing, generate next actions and quotes, conduct transactions more efficiently, and empower their customers with enhanced automated NLP solutions powered by AI. The customer service company provides strong support.
NLP Solution White Paper
Download Area
ABOUT NLP
AI Redefining Financial Services—Using Natural Language Processing to Improve Customer Experience
Read this book and you will learn:
Adopting NLP powered by AI brings unprecedented opportunities. With this NLP, Financial services can increase operational agility while consistently delivering the personalized, frictionless experience customers expect across channels.
AI Redefining Financial Services—Natural Language Processing for Fraud Prevention
Read this book and you will learn:
In this e-book, learn why NLP is critical to cost savings, how NLP can detect fraud across multiple channels, and American Express, Bank of New York Mellon and PayPal How to use NLP for fraud detection strategies.
AI for the financial sector
Read this book and you will learn:
AI brings many advantages to companies and customers in the financial services industry. It can mine deeper patterns in data, enabling smarter transactions while helping extend credit and service access to those who are left behind. It can be used to add intelligent help and automation to routine tasks, allowing employees to handle more complex, higher-value interactions and cases.
Scan the QR code below to download
Information asymmetry is the focus of competition in the financial industry. A large amount of timely and effective information is hidden in unstructured text. Financial institutions can use NLP technology to understand content and mine information to gain competitive advantages in key information. Click "https://server.51cto.com/act/nvidia/20220627" to view more successful cases of NLP applied to the financial industry.
