Finance and AI: A Perfect Combination

  • 7th Jan'21
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The real-world AI use cases scoped out so that we could understand how artificial intelligence has been a game-changer for finance technology.

Few vertices prevail in such a perfect match for the improved capabilities that brought AI revolution in many sectors like the financial sector. Traditional financial services have always strived with large volumes of records that need to be handled with maximum accuracy.

 

AI and finance

 

The advent of AI in Finance

Before the advent of AI and the rise of fintech corporations, very few promising entrepreneurs of this industry had the bandwidth to deal with the planet's inherently quantitative nature.

Artificial intelligence in finance is remaking the way we interact with money. AI helps the financial industry simplify and optimize processes varying from credit decisions to quantitative trading and financial risk management.

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History of AI in finance

We will also focus on a limited amount of AI techniques, primarily those that were the most popular at the time. Read more.

AI and financial revolution

By 2030, FinTechs anticipate AI will have expanded their workforce by 19%, read more.

The growing impact of AI in finance

The rise of AI in the financial industry shows how quickly it’s changing the business landscape even in traditionally conservative areas. Read more.

 

How AI helps in Finance Industry?

AI in the finance industry helps in processing data and creating the algorithms managing trading rules. Mainly, it is useful in quantitative trading. It is considered the future of finance companies, which will make them grow faster and better.

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Examples of AI used in finance

Here are a few examples of companies helping the financial industry. Read more.

AI applications in finance

We can understand AI’s applications to financial services; we must understand the technology itself. Read more.

AI helping finance

Many of the financial institutions in developing countries are still stuck on setting up data infrastructure, that allows them to leverage AI. Read more.

 

How AI improves Financial Analytics?

AI-powered computers can analyze large, complicated data sets shortly and more efficiently than humans. The occurring algorithmic trading processes automate trades and save valuable time. The are various companies who are working with 

AI-infused technology and helping them in financial institutions make better trades.

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AI improved finance analytics

AI and machine learning is revolutionizing the financial services landscape. Read more.

5 ways AI is transforming the finance industry

AI and machine learning enables fintech startups to outmanoeuvre their larger Financial Services competitors, driving new customers who become loyal based on services traditional banks don’t offer. Read more.

AI planning in finance

Since the technology is not yet built into most FP&A application suites and consequently not well understood. Read more.

 

The advancement of artificial intelligence and digital assets made everything possible. It helps in improving performance and reduces processing time and costs. Though some of these advances are already in use, and the level of refinement will progress to such an extent that the banking industry will be set up very differently in the next decade. 

 

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About the author: Sareen Yasmin

Her passion includes creative writing, reading, and playing around words. She is looking forward to bringing some change with the power of pen and thoughts. Mic and pen are her best friends.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Isha Panwar, OpenGrowth Content Team

 

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect with us.


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