Artificial Intelligence, Machine Learning and Financial Innovation

The Case for AI for Financial Services in Africa

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AI has the potential to transform financial inclusion across Africa. A PAYGo provider no longer has to conduct a lengthy field visit to assess whether to enter a new market. Instead, they harness their own data along with contextual data like access and usage of mobile money agents to analyze the business case. SME retailers no longer struggle with inventory management and restocking their shelves in a timely manner. Rather, they use a product recognition app to automatically notify their wholesaler when they need more inventory. These are just a few of the potential uses of artificial intelligence (AI) and more specifically, machine learning (ML), to change the landscape of financial innovation across sub-Saharan Africa. Continue reading