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AI-Based Banking Loan Software Will Become Norm In 2022

Smart Data Collective

The banking industry is among them. Banks have been slower to adapt AI technology than some other institutions. However, the market for AI in banking is expected to grow over 30% a year and will be worth over $64 billion by 2030. New software uses AI to manage bank loans. AI Makes Bank Lending Software Far More Reliable.

Banking 345
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Atos slides deeper into the red

CIO

The ailing French IT services provider recorded an operating loss of €1.7 billion)in the first six months of the year, compared to a loss of €434 million a year earlier; Its net loss for the half-year was €1.91 Eviden’s sales fell by 4.2 billion from banks and bondholders. billion (about $1.8 percent from €2.61

Loss 475
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Atos contemplates fire sale as break-up plan falters

CIO

Negotiations over the sale of its legacy infrastructure services business are dragging on, and the company is contemplating the sale of more profitable activities such as its big data and security business to meet debt repayment obligations. French IT services company Atos is floundering as it seeks to refocus its business.

Sales 435
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French government leaves $1.1 billion hole in Atos refinancing plan, Atos says don’t worry

CIO

Atos has failed to agree terms with the French government for the sale of part of its business, one of several elements of its plan to refinance its debt. billion restructuring plan with its banks and shareholders. That wasn’t enough to get it back into the black, though, and its net loss in the first half of the year grew to €1.91

Loss 418
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Step 1 to becoming a business-savvy CIO

CIO

For example, if you are in banking, your organization is likely to measure itself by profitability ratios such as net interest margin (the difference between interest income generated and interest expenses) or PCL (provision for credit losses). Marketing and sales had measured success by how many new card accounts were opened.

Business 417
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What is predictive analytics? Transforming data into future insights

CIO

Retailers often use predictive models to forecast inventory requirements, manage shipping schedules, and configure store layouts to maximize sales. DC Water drives down water loss The District of Columbia Water and Sewer Authority (DC Water) is using predictive analytics to drive down water loss in its system.

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CIOs are worried about the informal rise of generative AI in the enterprise

CIO

As an example, the consultancy refers to how generative AI technology could potentially add $200 – $400 billion in added annual value to the banking industry if full implementation moves ahead on various use cases. Employees are using it to develop software, write code, create content, and prepare sales and marketing plans.