A banking database and banking record will have thousands of fields depending upon the number of transactions taking place. Data analytics and Machine Learning helps to analyse the data and make logical conclusions from the same. They also help in monitoring credit analysis, chances of consumers defaulting payment, getting to know loyal customers etc.
Jairam R Prabhu
Great article! There is little awareness about the practical applications of AI given the sophisticated stuff they show in movies. As someone whose worked in AI/ Analytics for over a decade I have seen some of these applications in action. In fact one of the earliest applications of AI were in banking sector.. they've been doing it for decades. I was fortunate to work on credit risk using transactional data. Useful post for many. Thanks for sharing :)