This App Uses AI to Forecast Your Future Spending and Cash Balance
Rahul Kalvapalle — July 30, 2021 — Tech
Forekash is a novel personal finance app that is looking to differential itself by offering a range of functions and services that focus on upcoming and future transactions, rather than tracking and compiling past transactions.
The app, which is available on the Apple App Store as well as Google Play, makes use of AI and machine learning algorithms to learn your spending habits, before predicting what financial implications these habits may hold for the future. By using mathematical data to assess future cash flow, the Forekash app aims to help users manage their finances by mitigating unpleasant surprises.
So sophisticated is Forekash's underlying technology that the company states that its finance app is capable of forecasting your cash balance up to one year in the future and providing you with customized insights and tips, all without infringing on your privacy and personal data.
With the investing and finance apps space becoming increasingly cluttered with new players, Forekash is well and truly poised to stand out among the competition with its deft use of AI to provide forecasting capabilities to users.
Image Credit: Forekash
The app, which is available on the Apple App Store as well as Google Play, makes use of AI and machine learning algorithms to learn your spending habits, before predicting what financial implications these habits may hold for the future. By using mathematical data to assess future cash flow, the Forekash app aims to help users manage their finances by mitigating unpleasant surprises.
So sophisticated is Forekash's underlying technology that the company states that its finance app is capable of forecasting your cash balance up to one year in the future and providing you with customized insights and tips, all without infringing on your privacy and personal data.
With the investing and finance apps space becoming increasingly cluttered with new players, Forekash is well and truly poised to stand out among the competition with its deft use of AI to provide forecasting capabilities to users.
Image Credit: Forekash
Trend Themes
1. Future-focused Finance Apps - The trend is to provide financial apps that focus on predicting and forecasting future transactions, allowing users to manage their finances more efficiently with the help of AI algorithms.
2. AI-powered Personalized Insights - The trend is to leverage AI-powered algorithms to provide personalized insights and tips to users based on their unique spending habits and future projections.
3. Advanced Cash Flow Forecasting - The trend is to use complex mathematical data to provide users with advanced forecasting of their cash balances up to one year in advance.
Industry Implications
1. Mobile App Development - There is an opportunity in the mobile app development industry to specialize in creating finance apps that focus on future financial projections and advice.
2. Financial Services - The financial services industry could leverage AI-powered apps in order to provide more accurate insights and personalized financial advice based on individual clients' data.
3. Investing Apps - The investing apps industry could benefit from incorporating sophisticated AI algorithms to assist users in forecasting and managing their investments and financial transactions.
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