How the Partnership of Titans Will Change FinTech

Considering how important a breakthrough big data was, it shouldn’t be shocking to learn that it is set to make an impact on countless parts of the financial industry. After all, that shift in how we analyze financial data can have a drastic impact on how businesses operate.

The easy pairing of big data and artificial intelligence is probably the least surprising partnership. After all, both elements use technology in a modern way to offer people a new way to look at and work with information. And it’s easy to see how artificial intelligence can improve the big data process, as AI can work with people to help them filter the data and find the information they need.

This is what Deep Pixel does. The company developed its own AI system (AI Chatbot) to help answer the questions customers have about a company’s services. Easy and quick to access, the system is a fantastic upgrade from telephone customer assistance. As well, the system is customizable, ensuring that your AI Chatbot will stand apart from that of your competitors’.

Then there is a partnership that is slightly more surprising: big data and venture capital. After all, at first the two areas seem to have little to link them. A closer analysis, however, reveals that this is not true. Modern venture capitalists are using big data to seek out the best investment opportunities, using the system to weed out startups that aren’t likely to turn a profit. This is bad news for startups that don’t get good results when put through their algorithm, as (venture capital) funding will be much harder to come by. To ensure success, before you seek financial support from venture capitalists, make sure your startup has a high profit margin.

To achieve greater success, oftentimes companies (or concepts) will partner together. This way, they can use the positive attributes of the other company to increase their profit margin. If done well, these new conglomerates will prove to be an excellent addition to the business world and true competition to the other players in the market. Is this what is happening with FinTech? I think so.