Artificial Intelligence in the Financial Industries
•Download as PPTX, PDF•
3 likes•324 views
As Artificial Intelligence makes its way into our lives, many financial institutions are faced with the difficult question “Should AI be embraced?”. While the eagerness to integrate AI into the financial sector has waxed and waned over the past few decades, it now appears that Fintech is ready to dive head-first into AI as a standard for handling customer transactions, financial risk assessment, industry regulatory compliance and reduced institutional costs. There is no doubt that AI can be invaluable for the financial industry, but it comes at a price. We expect to witness both success stories and tragic failures over the course of the next few years. With any first-generation technology, there are going to be bugs to solve, and a learning curve before intimate industry familiarity with AI is obtained. AI is not only going to revolutionize the financial industry but become the industry itself.
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Artificial Intelligence in the Financial Industries
Similar to Artificial Intelligence in the Financial Industries (20)
Recently uploaded
Recently uploaded (20)
Artificial Intelligence in the Financial Industries
- 1. www.rocketbots.io Artificial Intelligence and the future of finance By Gerardo Salandra (Jerry)
- 2. www.rocketbots.io Founder at Rocketbots Gerardo Salandra Gerardo Salandra is currently CEO and Founder of Rocketbots, an artificially intelligent platform for the creation of Chatbots. Former Head of Growth Marketing at NDN Group, specializing in Marketing Technology. With previous experience in IBM, Google and several fast-growing startups, he has accumulated profound expertise in digital marketing. He is a professional corporate trainer for marketing automation, big data analytics, CRM, SEO, & SEM. He has conducted consultations for multinational corporations in marketing automation, covering account based marketing, performance metrics and Social CRM integrations. His expertise in Artificial Intelligence also allowed him to create Chatbots for support and sales purposes, transforming the way brands perform customer services. He holds a MBA from the CUHK and Bachelor from the Reutlingen University in Germany.
- 3. www.rocketbots.io WHAT IS HAPPENING IN THE WORLD OF AI
- 5. www.rocketbots.io 5 MeetThe Grid.Your new AI web designer. The Grid CREATIVITY
- 6. www.rocketbots.io 6 Trailer for science fiction movie edited by IBM Watson IBM + 20th Century Fox CREATIVITY
- 8. www.rocketbots.io 8 World’s first robot lawyer repeals 64% of parking fines via Chatbot DoNotPay LAW
- 9. www.rocketbots.io 9 Bot sends disinterested responses to break up with people on user’s behalf Ghostbot SOCIAL
- 12. www.rocketbots.io DOES THE SAME APPLY TO FINANCE?
- 13. www.rocketbots.io AI IN FINANCE 13 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 15. www.rocketbots.io AI IN FINANCE 15 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 16. www.rocketbots.io 16 Avoid overdrafts and “where did my money go?” damage control. Penny AI ASSISTANT
- 18. www.rocketbots.io AI IN FINANCE 18 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 19. www.rocketbots.io 19 Helping users qualify for essential financial products. aire CREDIT SCORING
- 21. www.rocketbots.io AI IN FINANCE 21 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 22. www.rocketbots.io 22 Machine Learning Platform for Fraud and Risk Detection. feedzai FRAUD DETECTION
- 24. www.rocketbots.io AI IN FINANCE 24 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 25. www.rocketbots.io 25 Discover data-driven trading opportunities humans can’t see. Alpaca QUANTITATIVETRADING
- 27. www.rocketbots.io AI IN FINANCE 27 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 28. www.rocketbots.io 28 Enhancing customer understanding of spending behavior. Personetics PERSONAL BANKING
- 30. www.rocketbots.io AI IN FINANCE 30 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 31. www.rocketbots.io 31 Search within organized data, explore a topic by theme, and get to the right content faster. Indico SENTIMENTANALYSIS
- 33. www.rocketbots.io AI IN FINANCE 33 PREDICTIVE ANALYTICSAI ASSISTANTS SENTIMENT ANALYSIS CREDIT SCORING QUANTITATIVE TRADING FRAUD DETECTION PERSONAL BANKING
- 34. www.rocketbots.io 34 Integrate and Optimize to Reduce Cost and Complexity, Detect Anomalous Data Nervana PREDICTIVE ANALYTICS
- 35. www.rocketbots.io AND THESE ARE JUST THE SMALL PLAYERS…
- 37. www.rocketbots.io YOUR NEXT STOCKBROCKER MIGHT BE A COMPUTER…
- 38. www.rocketbots.io 2 The speed, scale & automation capabilities of parallelized algorithms are beating even the best investors and teams
- 39. www.rocketbots.io 2 BY A LONG SHOT!
- 40. www.rocketbots.io Artificial Intelligence might not only disrupt the financial industry but over time could become the industry itself. “
- 41. www.rocketbots.io SO WHAT HAPPENS IF… AI CAN REPLACE US
- 42. www.rocketbots.io THERE WILL BE: HIGHER PRODUCTIVITY
- 46. www.rocketbots.io … AND NO JOBS
- 47. www.rocketbots.io BY 2020, 47% OF JOBS IN THE US WILL BE AUTOMATED. - DR. CARL BENEDIKT FREY, OXFORD MARTIN SCHOOL “
- 48. www.rocketbots.io WHILE TODAY’S JOBS WILL PERISH, NEW JOBS WILL BE CREATED BY THE TECHNOLOGY THAT REPLACED THEM. - RAY KURZWEIL, AUTHOR OF “HOW TO CREATE A MIND” “
- 51. www.rocketbots.io OUR COMPANY 51 In the last decade, over eight countries have formally experimented with UBI. Here are the top three active experiments worth noting: Universal basic income (UBI) is a policy in which all citizens of a country regularly receive an unconditional sum of money, either from a government or some other public institution, in addition to any income received from other means. - SINGULARITYHUB.COM “ WHAT IS UNIVERSAL BASIC INCOME (UBI)? 3,000 people $600/m 200 people $1100/m 3 villages $6/m
- 53. www.rocketbots.io 53 Early stage bur positive results • No work, no less • Less hospitalization • Less injuries • Graduation rates increased Essentially, nobody was quitting their jobs. Universal Basic Income
- 54. www.rocketbots.io NOBODY REALLY KNOWS WHAT THE FUTURE HOLD
Editor's Notes
- https://www.youtube.com/watch?v=PGLASey3MAE
- https://www.youtube.com/watch?v=PGLASey3MAE
- Cbinsights.com
- • Automated financial advisors and planners that assist users in making financial decisions. These include monitoring events and stock and bond price trends against the user’s financial goals and personal portfolio and making recommendations regarding stocks and bonds to buy or sell. These systems are often called “robo advisors” and are increasingly being offered both by start-ups and established financial service providers.14
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com
- Faced with an array of financial info, time pressures & random external factors Asset managers struggle to identify & analyze the key variables and events that drive the performance of asset prices
- What is universal basic income? Who is experimenting? Universal basic income (UBI) is a policy in which all citizens of a country regularly receive an unconditional sum of money, either from a government or some other public institution, in addition to any income received from other means. UBI’s core motivation—to address social ills by giving people “free” money—is certainly not a new idea. For some perspective, Thomas Paine outlined a plan in his 1797 essay “Agrarian Justice” to create a national fund making payments of 15 pounds sterling to each adult over 21 years old. Today, experiments with UBI are spreading across the world, from Finland and the Netherlands to Canada and France. In France, several members of Parliament have supported running an experiment, and the finance minister is open to it. In the last decade, over eight countries have formally experimented with UBI. Here are the top three active experiments worth noting: 1. Finland: Early next year, the Finnish government will launch an experiment in which a randomly selected group of ~3,000 citizens already on unemployment benefits will begin to receive a monthly basic income of 560 euros (approx. $600). That basic income will replace their existing benefits. The amount is the same as the current guaranteed minimum level of Finnish social security support. The pilot study, running for two years in 2017-2018, aims to assess whether basic income can help reduce poverty, social exclusion and bureaucracy, while increasing the employment rate. 2. Netherlands: The local government in the Dutch city of Utrecht is planning to conduct an experiment that would give a guaranteed monthly income to 250 Dutch citizens currently receiving government benefits. A two-year test period is tentatively set to begin in January of next year, and some citizens of Utrecht and some nearby cities will receive a flat sum of €960 per month (about $1,100). The Utrecht proposal—called “Weten Wat Werkt,” or “Know What Works”—includes six test groups, and the members in each will receive slightly different stipends under slightly different conditions. In addition to the group that will receive €960 per month without any work obligations, there is a group that will be given that, plus an additional €150 at the end of the month if they provide volunteer services, such as doing maintenance work on schoolyards. 3. India: Over 350 million people (about 30% of the population) remain below the poverty line after two decades of high economic growth. In that context, in 2011 India launched two pilots to test the impact of basic income grants, funded by UNICEF, with SEWA as coordinator. In eight villages in Madhya Pradesh, every man, woman, and child was provided with a monthly payment of, initially, 200 rupees for each adult and 100 rupees for each child paid to the mother or guardian; these were later raised to 300 and 150, respectively. They also operated a similar scheme in a tribal village, where for 12 months every adult was paid 300 rupees a month and every child got 150. Another tribal village was used as a comparison. The money was paid individually, initially as cash and after three months into bank or cooperative accounts.
- Early stage bur positive results No work, no less Less hospitalization Less injuries High School graduation rates increased Essentially, nobody was quitting their jobs.
- Early stage bur positive results No work, no less Less hospitalization Less injuries Graduation rates increased Essentially, nobody was quitting their jobs.
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com
- Cbinsights.com