What does Integration of Artificial Intelligence and Advanced Analytics mean in Business?

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Disruptive technologies like artificial intelligence (AI) and advanced analytics have had a transformational impact on the finance industry. They are also changing the way enterprises interact with their clients and run their organizations. The emergence and rapid growth of these technologies helped companies enhance their processes and operations. While data analytics refers to drawing insights from raw data, advanced analytics help collate previously untapped data sources, especially the unstructured data and data from the intelligent edge, to garner analytical insights. Meanwhile, artificial intelligence replicates behaviors that are generally associated with human intelligence. These include learning, reasoning, problem-solving, planning, perception, and manipulation. Some latest iterations of AI, like generative AI, can also create creative artwork, music, and more. Though these technologies sound diverse, their synergy would bring tremendous innovation across several industries. When powered by AI, advanced analytics algorithms can offer additional performance over other analytics techniques.

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