Banking and financial sectors have been using some form of machine learning to keep track of data but it is usually tedious and manual in nature. With high volume of data and the quantitative nature of finance, this sector is particularly suited for artificial intelligence.
A McKinsey study says that Robotic Process Automation (RPA) is a promising new development in business automation that offers a potential ROI of 30–200 percent — in the first year.
Robotic Process Automation (RPA) is a potential differentiator. It can make institutions and their services stand out on various aspects and parameters to meet customer expectations and stay ahead of competition.