In a world full of exciting new financial technology, it’s hard to keep up with all the buzzwords. Right now, five buzzwords in particular are gaining a lot of attention in the digital banking space: artificial intelligence, chatbots, machine learning, deep learning, and data science. At Abe AI, these five buzzwords play an instrumental role in the AI banking technologies we build. But do you know what these words mean? We’re breaking down these buzzwords into simple definitions anyone can understand. Here are our simplified, jargon-free definitions of each of these industry buzzwords: Artificial intelligence (AI) is when computers do things that normally only humans could do (things like pattern recognition, reasoning, and speech). AI technology can be used to build virtual agents like chatbots. A chatbot is an AI-powered software program that mimics human conversation with users in chat interfaces like Facebook Messenger and SMS. Chatbots are often used as intelligent assistants; they can be used to automate simple tasks and answer user questions in place of a live agent. Data science is a field that processes, analyzes, and interprets data sets to extract meaningful insights, usually to better understand human behavior. Machine learning (ML) is when computers learn and improve from experience. Machine learning enables computers to recognize patterns in data and predict future outcomes. Deep learning is a specific branch of machine learning. It uses layered networks of artificial “neurons” to simulate the structure and function of the human brain.

1. abe.ai | @abethebot
5 Fintech Buzzwords You Need
To Understand
An overview of key buzzwords

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Underlying technologies used
to simulate the work of a
human. Things like pattern
recognition, reasoning, and
speech.
AI technology can be used to
build virtual agents like
chatbots.
Artificial Intelligence

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An AI-powered software
capable of mimicking human
conversation through non-
linear dialogue.
Chatbots operate in systems
like Facebook Messenger and
SMS. They can be used to
automate simple tasks and
answer questions in place of
live agents.
Chatbot

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Non-Linear Dialogue
Paying a Friend
Amount Person When Account
INTENT

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Non-Linear Dialogue Example

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Data Science
Processes, interprets, and analyzes data sets to
extract meaningful insights to better
understand human behavior.

7. abe.ai | @abethebot
Computers learn and improve from experiences. Developing
learning patterns without being explicitly programmed,
enabling computers to recognize patters in data and predict
future outcomes.
Machine Learning

8. abe.ai | @abethebot
Deep Learning
A specific branch of machine learning that uses layered
networks of artificial “neurons” to simulate the structure
and function of the human brain.

9. abe.ai | ftforge.com | howdy.ai
Click the link below for a deeper dive into artificial
intelligence, chatbots, and machine learning.
abe.ai/blog
Contact: keith@abe.ai