The way we thought of apps back in 2008 is how we’ll view artificial intelligence five years from now; 2016 will look like the AI stone age. In las
The way we thought of apps back in 2008 is how we’ll view artificial intelligence five years from now; 2016 will look like the AI stone age.
In last few years, app changed the behavior of users, in various sections and it created a big dent in the fintech segment with the help of specialized banking apps and various payments systems. But all the great thing comes to an end, and same is the case for the growth of the app economy as well. It is on the verge of its peak and these days’ making money with the app is quite a challenging task.
Soon AI will take the space that is covered by apps, and soon apps will become a previous generation technology. Bots are a very good example of app replacements and current day’s bots are not where close to the advanced AI systems. However, you can see a notable difference in this experience. These bots are getting smarter with presently available apps, and many of these bots can solve those problems as well that cannot be fixed by apps in anyways until this time.
If we look farther in this regard, then you will realize you AI and bots will help you make a lot of money with your current account.
Most of us do not know that extra cash in the current account is nothing but a great opportunity that you missed in your life. The value of that money reduces slightly with inflation on a daily basis. To get the most from that extra money, you can keep a minimum balance in your account, and you can utilize the extra cash to invest in some good investment. But there is one problem in this method which is unexpected expenses that can take away money from your checking account and you may end up losing your profits in the form of penalty or debt from the credit card.
But in the future, AI will be able to create an automated accountant for you that will know your accounts and your expenses more than you do. It will calculate your previous purchases, other expenses and it will move money between your savings, checking account, credit card and investment for maximum profit. Thanks to this method, your current account balance will always remain in the sweet spot where it maintains the minimum balance to avoid any penalty or fees, and it will not go high so you can utilize the money to make the profit with your investments opportunities.
In the present situation, it is a time-consuming process to find that sweet spot, and you end up having a lot of stress as well in this effort. In coming days, AI based robot accountant will have a clear idea when you may spend more money than usual. It will know the possible repairing time for your car, and it will also speculate if your electric bill is going to rise in a coming month. As a result of all these details and information, this Robo Accountant will have a clear understanding for the right time to pay the credit card bills as well without giving any financial loss to you.
Of course, there are some fee minimizers and optimizers are there that might do the task, but none of them can work well without the support of an Advance AI. An AI will have the capability to make a decision on the basis of your past spending, your bills, fees and several other factors. This will plan things ahead for you, so you do not need to do the planning, and that is going to make AI crucial and special in the future.
In the future, AI based robot accountant will evaluate all these things before giving any suggestion or taking a decision to make sure you get nothing but the maximum return from your investment, and you pay minimum fees for anything that you use. In other words, we can say, AI will take away our anxiety, and it will give the gift of increased wealth. It will certainly help more than 60% Americans that stay in a dilemma and worries about miscalculated retirements goals and planning that makes it a huge steps for sure.