Preeti
The fintech industry in Canada is undergoing significant advancements in artificial intelligence (AI), prompting a reevaluation of the role of data scientists. Here are five key reasons why data scientists in Canadian fintech should be replaced by AI:
1. Gatekeeping in the Industry: Fintech companies often hire from prestigious universities, leading to a lack of diversity and innovation. AI can democratize data analysis and promote merit-based decision-making.
2. AI Outperforms Humans: AI technologies like GPT offer superior data analysis capabilities, providing more precise insights and faster decision-making.
3. Tableau’s Limitations: Tableau, a popular tool among data scientists, has drawbacks that AI can overcome, such as complexity and limited customization.
4. Fine-Tuned AI Models: Expertly fine-tuned AI models can analyze data with unparalleled precision and scalability, offering relevant and precise insights.
5. Cost Efficiency: Data scientists are among the highest-paid employees in fintech, leading to unjustified pay gaps with support staff. AI integration can reduce costs and ensure fair compensation for all employees.
By embracing AI, Canadian fintechs can address hiring biases, enhance data analysis capabilities, and improve cost efficiency. AI-driven models offer superior insights, democratize decision-making, and provide scalability and customization. This shift towards AI can lead to more innovative, inclusive, and efficient data analysis in the Canadian fintech industry.
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Source link: https://medium.com/@aardvarkinfinity/why-data-scientists-in-canadian-fintech-should-be-replaced-by-ai-dc07b60de86f?source=rss——ai-5
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