AI AND ITS IMPACT ON BUSINESS BY MARC HEMMERLING

AI AND ITS IMPACT ON BUSINESS BY GERARD HOFFMANN
29 mai 2018
AI AND ITS IMPACT ON BUSINESS BY JEAN-FRANCOIS WILLAME
29 mai 2018

«Artificial Intelligence as a phenomenon emerged for the first time in 1960s. However, only now we are witnessing its impressive resurgence especially in the financial services sector thanks to the combination of several demand and supply factors, namely: sophistication of algorithms and computing power, availability of data and respective infrastructure, high potential of cost reduction and revenue gains, accelerated competition and the compliance pressure coming from regulators and supervisors. Examples of the application of AI and Machine Learning are numerous and touch upon various areas of the financial services sector: sentiment indictors, trading signals, AML/ATF and fraud detection, credit scoring, insurance, chatbots, capital optimization, risk management models, market impact analysis, trading, portfolio management, regulatory compliance, etc. AI adoption will have multifaceted positive impact on financial institutions, financial markets consumers and investors. The technology has a huge potential for the financial sector. Further AI adoption coupled with addressing the inherent risks of this technology will be one of the cornerstones of making the financial sector more agile and in line with the demand of customers, investors, employees, regulators and other stakeholders.»

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