In the last couple of years we have witnessed an unprecedented change in the digital economy. Online financial services and electronic commerce are two of the sectors that have grown exponentially in this period. The development of this ecosystem has been accompanied by the creation of new operation and business models, of course, but they have also leveraged technologies such as Artificial Intelligence (AI).
This technology has played a very important role in various aspects of the growth of these sectors. In the specific case of Artificial Intelligence, it has allowed companies to optimize their processes and learn more about their customers to offer better products and services.
Thanks to this, businesses have been able to improve in terms of user experience, customer service, personalized recommendations, risk management, fraud detection, identity validation and other elements related to security. With this in mind, it could be said that Artificial Intelligence has become both a guide and a guardian of the digital economy.
Artificial Intelligence is outlining new scopes and applications for the digital economy, these transformations have been developing for some years, but it is from the Covid-19 pandemic that they are more evident. This transformation affects companies, their offer, strategy, competitiveness and innovation. In the same way, it affects the user by changing their purchasing habits, such as new payment methods, online purchases, etc.
One of the key tools in this process are the chatbot powered by Artificial Intelligence, since They allow users to collect information and process this data to generate increasingly personalized and satisfying trips for customers.
Knowledge about customers can translate into an increase in the level of satisfaction and loyalty of users, obtain better performance, increase sales, personalize services, among many other benefits for businesses that participate in the digital economy. .
security and trust
In addition to the aforementioned applications, Artificial Intelligence plays a key role in the security of the digital ecosystem. To provide greater certainty and confidence to users, it is essential to help of the solutions offered by this technology. However, along with the digital economy, challenges also grew.
Threats such as identity theft, digital fraud, cyber attacks, chargebacks, to name just a few examples, have multiplied alarmingly in recent years. It is estimated that by 2025 global cybercrime losses will reach an annual cost of 10.5 trillion dollars, according to a report by Cyber Security Ventures.
In this sense, Artificial Intelligence and its many solutions currently play the role of “guardian” of the digital economy. And over the years it will become even more relevant in this ecosystem. Through the algorithms machine learning, for example, companies can identify and detect possible digital fraud in time. Thanks to the implementation of these technologies and solutions, businesses can avoid economic and customer losses, in addition to making their platforms and customer service more efficient.
In the case of financial institutions or digital lenders, whether fintech, digital banking, lenders or others, Artificial Intelligence tools give them the possibility of validating the identity of the client and offering financial solutions according to their needs.
You can also analyze the patterns of use of bank cards and detect irregular expenses, send reminders of important payments such as electricity or car insurance. Some fintech They have also taken advantage of this technology to provide their users with more personalized services for budgeting, managing expenses or even saving goals for unforeseen events. This is how the new functionalities of the Artificial Intelligence have allowed it to become a digital “guardian”.
Thanks to this technology, all companies that participate in the digital economy can offer services tailored to their customers and position themselves as competitive businesses, concerned and busy solving problems and innovating in their sector.
Artificial Intelligence, and its different solutions, are a vital part of the gears of the digital economy and will continue to gain strength in the coming years. This technology is constantly adapting and improving to protect, prevent and combat the different threats and risks that impact players in the digital ecosystem.