AI-based data analysis refers to the application of artificial intelligence technologies, including machine learning and deep learning, to derive value from data. It involves using algorithms that can continuously learn from data to complete analytical tasks.
By processing large volumes of structured and unstructured data efficiently, AI systems can identify patterns and insights that humans or traditional analytics tools may miss. When deployed alongside human experts, AI augments their abilities and allows more accurate, speedy analysis.
According to a Verta survey, 63% of companies confirm cost reductions from applying AI to data analytics. AI is especially beneficial for the financial sector dealing with massive, complex data streams.