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Cognitive technologies such as machine learning and natural language processing help capital markets institutions by performing tasks previously requiring human thinking. Other digital technologies contributing to cognitive computing include intelligent process automation (IPA) to identify and automate routine such as reporting and reconciliation; virtual agents to serve clients faster; and pattern recognition for automated fraud detection.
Cognitive technologies can help financial firms address multiple challenges in the competitive digital age. Advisors, for example, use cognitive computing to help augment their decision-making and enhance the customer experience with more timely and appropriate investment opportunities. Similarly, wealth advisors and relationship managers can use the technology to enhance judgement, improve loyalty and cement customer engagement. Intelligent automation is increasingly used to enable self-learning and help clients to manage their own portfolios. Further, capital markets firms can use AI and offer differentiated products and services to clients.