Artificial intelligence is projecting the financial services industry into a new era of growth and innovation. Tools powered by AI can analyze data quickly, provide more accurate predictions, and reach wider audiences. With the global market of AI in financial services now valued at $38 billion, growing at an unholy 30.6% compounded annual growth rate (CAGR), AI is surely set to unlock a new future in the sector. At the same time, clients, workers, companies big and small, and the public at large are all asking the same question: to what extent can the world put its trust in AI-facilitated processes? LaShawn Smith, founder of Apollo Financial Ltd., weighs in on the conversation.
AI brings a lot of advantages into the financial consulting space, for example, one of its key benefits is its ability to handle data-heavy tasks much faster than by hand. This means that income and identity data can be quickly investigated, streamlining the decision-making and approval processes in areas like lending. LaShawn Smith's Apollo Financial is far from the last to capitalize on its applications, using AI to give clients a preliminary understanding of services and options before they even pick up the phone. Additionally, AI also helps in the outreach stage of the company, allowing Apollo's services to easily reach its base.
