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Machine learning (ML) adds a unique and sometimes overwhelming experience to a decision system. The use cases that fit for using Machine Learning approach in a bank are numerous. Usually, in banks, the departments have their own IT teams to carry out enhancements & maintenance of existing systems. Even in those banks which have adopted the shared services model for IT teams have segregated the resources based on the department’s funding and end up segregating the Shared services IT team into SME groups.
So, a bank if now looks at AI as the next frontier of the problem solving, then it brings a very interesting challenge to the picture. Like any capitalist society, a Bank is a capitalist economy in
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