28.3. Core Technologies Driving FinTech

Try these first

1. 1.

   Define what Artificial Intelligence (AI) is.

   Hint

   Think about how machines can think like humans.

2. 2.

   What does RPA stand for?

   Hint

   What technology automates repetitive tasks?

3. 3.

   What is the primary function of Machine Learning in FinTech?

   • To automate customer service
   • To analyze transaction data
   • To develop mobile apps

   Hint

   Think about how FinTech companies improve their services.

4. 4.

   Blockchain technology is centralized.

   • True
   • False

   Hint

   Consider how transactions are verified on the blockchain.

5. 5.

   Consider a financial startup using AI for credit scoring. How would you design a model to ensure fairness and avoid bias?

   Hint

   Focus on how different data points could affect decisions.

6. 6.

   Suppose a bank wants to integrate RPA in customer onboarding. Identify possible challenges and propose solutions.

   Hint

   Consider organizational culture and technology compatibility.