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Companies in the financial sector are leveraging artificial intelligence to analyze and manage data from multiple sources to provide valuable insights. AI in FinTech is being used to enhance security precautions, such as facial or fingerprint recognition, and to replace passwords and usernames. AI in cyber security generally comes in the form of chat-bots that convert frequently asked questions into simulated conversations. AI in Fintech is also being used to improve customer service, such as with chatbots, virtual helpers, and artificial intelligence interfaces. According to a report by Allied Market Research, the AI in Fintech market is expected to reach $17.5 billion by 2026.
