Get AI business school for financial services Microsoft Quiz Answers
Decision-makers in financial services have considerations that are particular to their industry to help them realize the true transformational impact of AI in the enterprise. It is critical to understand the components of a strategy that will help the financial services sector create business value with AI.
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Module 2: Define an AI strategy to create business value in financial services
To realize the true transformational impact of AI in financial services, decision-makers must consider the special factors that apply only to their industry. To create real business value, a comprehensive understanding of all the strategic components is required.
In this module, you will:
- Describe financial service industry outcomes achieved through the adoption of AI.
- Articulate the components of an AI strategy.
- Apply the value creation framework.
This module is part of these learning paths:
Quiz 1: Knowledge Check
Q1. What is an example of how AI has benefited the Financial Services industry?
- AI increased the accuracy of financial reporting by eliminating accounting errors.
- AI lowered costs by decreasing the latency of transactions through prediction modeling.
- The industry leverages AI as a competitive advantage in order to obtain market share from competitors.
- AI has allowed the integration of quantum computing in order to lower the cost of transaction processes.
Q2. What is one of the problems that financial service institutions face with their customers that AI can address and eliminate through hidden machine learning processes?
- Customers often favor convenience over security, which increases cybersecurity vulnerability.
- Customers don’t value the online experience, so product differentiation is challenging.
- Financial institutions don’t have a lot of data and information concerning their customers.
- The financial services industry has been very slow to embrace digital services, and customers view them as technology laggards.
Q3. How is AI helping to increase the security of financial transactions today?
- AI can pool from thousands of preselected security questions using the customer data profiles.
- AI is used to create more disruptive authentication processes that deter criminal behavior.
- AI is making it possible to create and enforce password policies that are more complex and elaborate.
- AI uses profiling metrics in order to identify unique identifying behavior traits for every customer.
Q4. When it comes to employees, what is an example of a fundamental aim that financial services institutions want to accomplish through AI integration?
- Empower them to be more creative and innovative.
- Remove them from the decision-making processes.
- Replace employees with machine-learning, interactive devices.
- Decrease the customer load on their financial advisors.
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This Problem is intended for audiences of all experiences who are interested in learning about Data Science in a business context; there are no prerequisites.
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