Artificial Intelligence technologies have stopped being relegated to only science fiction and are becoming a major part of our daily lives, with the potential to immensely improve almost every aspect of our communities.

Interest in the area of Artificial Intelligence (AI), Machine Learning (ML) and Data Science (DS) has been growing rapidly over the past few years. No longer in the hands of the few, advances in AI/ML themselves have made these technologies far more accessible for a wider range of businesses.

Today, the financial services industry focuses more and more on using advanced analytics andAI/ML to enable new smart products and services, automation of business processes and intelligent insights on the markets, customers and operations.

Some of the current and potential use cases of AI and machine learning include:

  • Financial institutions and vendors are using AI and machine learning methods to assess credit quality, to price and market insurance contracts, and to automate client interaction.
  • Institutions are optimizing scarce capital with AI and machine learning techniques, as well as back-testing models and analyzing the market impact of trading large positions.
  • Hedge funds, broker-dealers, and other firms are using AI and machine learning to find signals for higher (and uncorrelated) returns and optimize trading execution.
  • Both public and private sector institutions may use these technologies for regulatory compliance, surveillance, data quality assessment, and fraud detection.