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Live Tech is Determined to Bolster Italian Fintech Companies with its Latest AI Applications
By CIO Applications Europe | Thursday, July 04, 2019
The latest offering by Live Tech will bolster the cybersecurity measures taken by fintech companies, augmenting their growth in the global financial market.
FREMONT, CA – Fintech witnessed its highest investments in the year 2018, with figures reaching up to $40 billion. According to PwC and NetConsulting Cube, the rise in investments was exponential when compared to previous years. After the United States, emerging giants such as China and the Asia Pacific are making a significant impact on the global market shares. Europe has also witnessed growth from 10 percent to 15 percent in the Fintech market.
Although Italy lags behind many global giants, the analysis conducted between 2017 and 2018 reveals its steady growth trend in the Fintech market. In the last few years, Italy has witnessed a rise in its Fintech companies, all incorporating the emerging technologies to introduce efficiency and productivity into the financial sector.
To aid them in their objective, Live Tech delivers AI development technology to the finance sector, enabling them to develop new solutions in cybersecurity and fraud detection. The offering will allow fintech companies to implement adequate web security and anti-fraud measures by leveraging AI and big data analytics to secure the corporate systems from external attacks. In regard to its contributions to the FinTech sector, Live Tech was recognized as one of the “Top 10 Cognitive Solution Providers - 2019” by CIO Applications Europe Magazine.
LiveTech’s DS4Biz rapid artificial intelligence development (RAID) framework combines machine learning (ML), natural language processing (NLP), and big data analytics to create robust applications which can aid in the identification of threats. "A typical problem with existing solutions in the market is that they focus on certain aspects of ML, say the application of ML only on numeric data and not textual data," said Giorgio Grappelli, co-founder and CEO of Live Tech. "Our solution combines ML, say the application of ML only on numeric data and not textual data. Our solution combines ML, NLP, and Big Data technologies through different components that can be combined in many ways and interact with each to offer best-in-class results."
The innovative approaches facilitated by DS4Biz RAID can help the organizations in securing their IT assets and mitigate the effects of any unanticipated breaches. The framework allows data scientists to develop AI applications and form cognitive automation processes. The modular platform offers simplified tools, seamlessly integrating the existing client infrastructure to deliver enhanced accessibility as well as functionality. Also, the plug-in connectors of the framework are designed to integrate with different sources.
Since the framework accommodates standard platforms such as Python and Java, there is no need for developers to learn new languages. It can function across a variety of domains, extracting relevant information according to the circumstances.
Grappelli added, “Our framework radically improves time to market, and clients can rest assured to go live with their AI project in three to four months as opposed to years.”
Along with growth, fintech organizations also have to deal with cybersecurity. Live Tech is set to assist Italian companies in adopting the latest technologies to thwart the efforts of cybercriminals. The cyberattacks on corporate systems have increased by almost 33 percent in the last year, and most of these organizations often fail to contain these breaches. Live Tech is committed to its goal of implementing robust AI solutions. It will enable organizations to consolidate digital security, streamline business processes, intercept fraud, and eliminate anomalies in corporate networks.
As AI continues to expand its dominance in corporate security, enhancing response times and mitigating data breaches, Live Tech is determined to bolster Italian fintech companies with the latest AI applications to secure their processes and aid in their growth in the global market.