Artificial Intelligence in Banking Industry: A Review on Fraud Detection, Credit Management, and Document Processing

AI is likely to alter the banking industry during the next several years. It is progressively being utilized by banks for analyzing and executing credit applications and examining vast volumes of data. This helps to avoid fraud and enables resource-heavy, repetitive procedures and client operations to be automated without any sacrifice in quality. This study reviews how the three most promising AI applications can make the banking sector robust and efficient. Specifically, we review AI fraud detection and prevention, AI credit management, and intelligent document processing. Since the majority of transactions have become digital, there is a great need for enhanced fraud detection algorithms and fraud prevention systems in banking. We argued that the conventional strategy for identifying bank fraud may be inadequate to combat complex fraudulent activity. Instead, artificial intelligence algorithms might be very useful.  Credit management is time-consuming and expensive in terms of resources. Furthermore, because of the number of phases involved, these processes need a significant amount of work involving many laborious tasks. Banks can assess new clients for credit services, calculate loan amounts and pricing, and decrease the risk of fraud by using strong AA/ML models to assess these large and varied data sets in real-time. Documents perform critical functions in the financial system and have a substantial influence on day-to-day operations. Currently, a large percentage of this data is preserved in email messages, online forms, PDFs, scanned images, and other digital formats. Using such a massive dataset is a difficult undertaking for any bank. We discuss how the artificial intelligence techniques that automatically pull critical data from all documents received by the bank, regardless of format, and feed it to the bank's existing portals/systems while maintaining consistency

Concepts for design of an energy management system incorporating dispersed storage and generation

New forms of generation based on renewable resources must be managed as part of existing power systems in order to be utilized with maximum effectiveness. Many of these generators are by their very nature dispersed or small, so that they will be connected to the distribution part of the power system. This situation poses new questions of control and protection, and the intermittent nature of some of the energy sources poses problems of scheduling and dispatch. Under the assumption that the general objectives of energy management will remain unchanged, the impact of dispersed storage and generation on some of the specific functions of power system control and its hardware are discussed

Pricing the Cloud: An Auction Approach

Cloud computing has changed the processing and service modes of information communication technology and has affected the transformation, upgrading and innovation of the IT-related industry systems. The rapid development of cloud computing in business practice has spawned a whole new field of interdisciplinary, providing opportunities and challenges for business management research. One of the critical factors impacting cloud computing is how to price cloud services. An appropriate pricing strategy has important practical means to stakeholders, especially to providers and customers. This study addressed and discussed research findings on cloud computing pricing strategies, such as fixed pricing, bidding pricing, and dynamic pricing. Another key factor for cloud computing is Quality of Service (QoS), such as availability, reliability, latency, security, throughput, capacity, scalability, elasticity, etc. Cloud providers seek to improve QoS to attract more potential customers; while, customers intend to find QoS matching services that do not exceed their budget constraints. Based on the existing study, a hybrid QoS-based pricing mechanism, which consists of subscription and dynamic auction design, is proposed and illustrated to cloud services. The results indicate that our hybrid pricing mechanism has potential to better allocate available cloud resources, aiming at increasing revenues for providers and reducing expenses for customers in practice

Indoor location-based analytics systems: Portuguese market compettive assessment and entry procing strategy of BIPs' technology in Sonae Sierra Shopping malls stores

This project attempts to provide an in-depth competitive assessment of the Portuguese indoor location-based analytics market, and to elaborate an entry-pricing strategy for Business Intelligence Positioning System (BIPS) implementation in Portuguese shopping centre stores. The role of industry forces and company’s organizational resources platform to sustain company’s competitive advantage was explored. A customer value-based pricing approach was adopted to assess BIPS value to retailers and maximize Sonae Sierra profitability. The exploratory quantitative research found that there is a market opportunity to explore every store area types with tailored proposals, and to set higher-than-tested membership fees to allow a rapid ROI, concluding there are propitious conditions for Sierra to succeed in BIPS store’s business model in Portugal.NSBE - UN

Outcome-Based SaaS Pricing

Outcome-based pricing (OBP) refers to a contract where at least part of the payments are based on some indicator of the expected outcomes. OBP aims to meet the challenges of value-based pricing by providing tools for measuring value. The market's interest in performance-based pricing has been noticeable over the past few years, but there are hardly any studies on the topic available in the SaaS environment. The existing research investigates outcome-based pricing from the perspectives of the manufacturing industry, where instead of the traditional ownership of products and equipment, for example hours of use or the number of finished pieces, are purchased from the service providers. The objective of the study is to identify the benefits and challenges of OBP in a SaaS environment. The study focuses on examining B2B service providers in the Finnish market. In addition, the study aims to offer service providers a framework for the capabilities required for OBP to support the successful implementation of a complex pricing model. The study has been carried out as a single case study by interviewing employees of the organization ordering the study. To support the interview research, the characteristics of OBP have been collected with a literature review based mainly on studies of the manufacturing industry. The integrative literature review has also included the observations of commercial players studying the market. These findings are based on customer surveys conducted in the SaaS operating environment in recent years. The various sources of the literature review are found to support each other, especially in terms of risks and opportunities related to the pricing model. The close cooperation between the customer and the supplier creates the challenges and opportunities of the pricing model. Based on the analyzed materials, OBP is identified as a complex pricing model. To implement the pricing model, the service provider must evaluate both its own and potential customers' ability to participate in the collaboration. Focusing on studying only one case organization and the relatively small sample size of the interviews and the absence of customer interviews may weaken the general applicability of the results.Tulosperusteinen hinnoittelu (OBP) viittaa sopimukseen, jossa ainakin osa maksuista perustuu johonkin odotetun tuloksen indikaattoriin. OBP pyrkii vastaamaan arvopohjaisen hinnoittelun haasteisiin tarjoamalla työkaluja arvon mittaamiselle. Markkinoiden kiinnostus tulosperusteiseen hinnoitteluun on ollut havaittavissa viime vuosien aikana, mutta SaaS ympäristössä tehtyjä tutkimuksia aiheesta ei juurikaan ole saatavilla. Tarjolla oleva tutkimus tutkii tulospohjaista hinnoittelua valmistavan teollisuuden näkökulmista, joissa perinteisen tuotteiden ja laitteiden omistamisen sijaan ostetaan palveluntarjoajilta esimerkiksi käyttötunteja tai valmistuneiden kappaleiden määrää. Työn tavoitteena on tunnistaa OBP hinnoittelun hyötyjä ja haasteita SaaS toimintaympäristössä. Tutkimuksessa keskitytään tarkastelemaan B2B palveluntarjoajia suomalaisilla markkinoilla. Lisäksi työssä pyritään tarjoamaan palveluntarjoajille viitekehys OBP mallin vaatimista kyvykkyyksistä, jotta kompleksiseksi havaittu OPB malli voidaan implementoida onnistuneesti osaksi organisaatioiden hinnoittelustrategiaa. Työ on toteutettu yksittäistapaustutkimuksena haastattelemalla työn tilaajaorganisaation toimihenkilöitä. Haastattelututkimuksen tueksi OBP hinnoittelun erityispiirteitä on kerätty pääosin valmistavan teollisuuden tutkimuksiin pohjautuvalla kirjallisuuskatsauksella. Integroivaan kirjallisuuskatsaukseen on sisällytetty myös markkinoita tutkivien kaupallisten toimijoiden havaintoja. Nämä havainnot perustuvat SaaS toimintaympäristössä viime vuosina tehtyihin asiakastutkimuksiin. Kirjallisuuskatsauksen eri lähteiden havaitaan tukevan toisiaan varsinkin hinnoittelumalliin liittyvien riskien ja mahdollisuuksien osalta. Tiivis yhteistyösuhde asiakkaan ja toimittajan välillä synnyttää hinnoittelumallin haasteet ja mahdollisuudet. Analysoitujen materiaalien perusteella OBP tunnistettiin kompleksiseksi hinnoittelumalliksi, jonka implementointia varten palveluntarjoajan on arvioitava sekä omaa että potentiaalisten asiakkaiden kykyä osallistua kumppanuussuhteeseen. Työn sovellettavuuden rajoitteina voidaan pitää tutkimuksen keskittymistä yhden tapausorganisaation tutkimiseen. Lisäksi verrattain pieni haastatteluiden otoskoko ja asiakashaastatteluiden puuttuminen voi heikentää tulosten yleistettävyyttä

An analysis of the business model adopted by earth-observation satellite companies in the newspace era - the cases of planet labs, spire global and blacksky technology

This report explores the evolutions in the satellite industry with an in-depth analysis of the business model adopted by NewSpace Earth Observation (EO) companies. The results indicate that EO companies offer an increasingly important customer value proposition based on the use of small satellites and artificial intelligence, but the market is still in a growing phase. The authors described strategic choices and vulnerabilities, presented three case studies, and provided some recommendations. Key recommendations to improve the business model enclose developing a hybrid model for operations, identifying a target customer segment, and diversifying the revenue streams

Analysis of the Point of Sales System at Tower Hill Botanical Garden and Suggested Courses of Action

As Tower Hill Botanic Garden continues to improve on its operations and enhance the experience of its visitors and members, they are on a quest for a new Point-Of-Sale (POS) system that not only works with its existing hardware and interface with Raiser’s Edge, a smartcloud fundraising and relationship management software central to the garden’s operations but also, have a restaurant module and the capability of operating both in a wireless and hard-wired environment