Artificial intelligence in our everyday life – utopia or close future?

Creating and implementation of innovations is one of the actual topics in Baltic International Bank, and the entire strategy of the Bank is based on innovation culture and usage of innovations in different processes.

On October 17 the employees of Baltic International Bank welcomed Artūrs Sproģis, doctor of computer science and the lead researcher of the Institute of Mathematics and Informatics of the University of Latvia. The team of the Bank listened to highly interesting lecture on usage of artificial intelligence in different business processes. The scientific interests of Artūrs Sproģis are connected to a subdivision of artificial intelligence – machine learning or deep learning – and various spheres of practical usage of it.

Artūrs Sproģis, Usage of artificial intelligence in different business processes

The beginnings of machine learning go back to 1944, when the first computing machine was developed, and since that time it has undergone both periods of rapid development and stagnation. Machine learning is at the top of its current development cycle, and due to technological resources available – powerful computers and data to be used in the process of machine learning, there is a good basis to think that the area will continue its rapid development.

Financial sector is one of the leading sectors in the world which is using new and innovative technological solutions in order to increase its efficiency and improve customer service and convenience. Making decisions, forecasting future situation, servicing customers, recognizing customers basing on their faces or voice – we can delegate the functions to technological devices which have undergone respective machine learning already now. But can you imagine that a decision on granting a loan could be made by a robot, basing on analysis of behavior/ speech/ gestures of potential borrower and evaluating his potential ability to repay the loan? Looking from current perspective, such a robotized loan specialist seems to exist just in scientific movies, but it seems to be our future. And – comparatively close future.

Meeting with Artūrs Sproģis provided all participants with new and interesting information on development of modern technologies, and we can be sure that it will contribute to creation of innovative solutions in our everyday life now and in the future!