No more will you hear about Chatbots being the next big thing. They’re already here and here to stay! Top domains where Chatbots are proving beneficial are:

1.      Ecommerce and Online Marketing: Messenger Chatbots have higher open rates and click through rates than Email, as a result of which many online marketers have begun using Chatbots as a way of getting website visitors’ information. Redirecting the customer to the correct sales channel, content gamification and relationship marketing are additional benefits it brings to this domain.

2.      Customer Service: The best use of technology right now is in automating the easy questions that get asked over and over again with a live agent takeover whenever the bot cannot answer a question. When the bot is stumped, it automatically sends the questions to a live agent, listens to the answer and then learn how to answer such questions in future.

3.      Travel, Tourism and Hospitality: Bots in this space are being successful on a number of critical fronts- they increase revenue, increase customer satisfaction, increase engagement and brand loyalty and lower costs via automation.

4.      Banking, Financial Services and Fintech: First and foremost, bots can help warn you about issues and dangers with your bank account. Bots can give you suggestions on what to do with your money- it can give you a cost breakdown of where you are spending or how can you move money around in order to save more money. Banks are also using chatbots internally to help automate tasks.

5.      HR and Recruiting: Chatbots can engage applicants and pre-screen them and make sure they’re qualified by asking a few questions. They also help in easing the process of on boarding new employees.

What other uses could be coming next? Read more at:

Global connectivity throughout many dimensions has provided an opportunity to make momentous developments in financial and technological inclusion. While blockchain and bitcoins were on top of the headlines in 2017, social and mobile payments have fundamentally changed the financial markets. New electronic trading venues are now being introduced to fixed income trading. ‘FinTech’ refers to these processes, products or business model and new applications in the financial services industry that are provided as an end-to-end process via the Internet and are composed of one or more complementary financial services. At Renaissance we utilize the available resources with the new innovation and technology in order to compete with the traditional financial institutions and intermediaries in the distribution of financial services. The key services provided are of distribution channels, transparency and accountability, financial capability, expanding rural capability and so on. Fintech will also likely to become greener in 2018 in the sense that there will be now a financial incentive for investments into quantum computing which has the potential to greatly reduce the estimated amount of electricity consumed by all of the current computers processing bitcoin. This is possible with the help of carbon footprint of the cryptocurrencies. 

Read more at: http://fortune.com/2017/12/26/4-technology-trends-2018/

FinTech or financial technology entered Indian banking and finance sector a few years ago, but it's 2016 when it became noticeable. It not only enhanced the finance and banking of the country but also generated employment efficiently in the areas such as payments, retail baking, peer-to-peer debt financing, personal finance, asset management, institutional investments, remittances, and financial research and hence, the demand for data scientists is growing at a greater pace among FinTech companies along with Big Data, analytics. Artificial Intelligence and Machine Learning are among the key technologies driving the FinTech industry. Therefore, the FinTech industry gives much more opportunities for young students and professionals in the analytics field. It would surpass the traditional BFSI industry in terms of growth, as well as the size and with an adequate supply of skilled labor and the overall impact of FinTech on economic growth will be huge. Read more at: https://www.entrepreneur.com/article/314042

After the revolution of fin tech in India, the payment sector has seen that Indians are opting for online transactions and transfers. But it is important to keep in mind the security aspect of digital transactions. With increasing use of technology, the market of risk management is growing fast. AI is playing a huge role in financial risk management because of its ability to deal with lots of data with high accuracy.Read more at:https://www.entrepreneur.com/article/294816