How AI is transforming the fintech industry

How AI is transforming the fintech industry
Author: Karamvir Singh
Publisher: karamvir singh
Total Pages: 14
Release: 2023-04-03
Genre: Computers
ISBN:

Artificial intelligence (AI) and machine learning (ML) have become buzzwords in the fintech industry, and for good reason. The use of artificial intelligence (AI) and machine learning (ML) in the financial technology (fintech) industry has grown tremendously over the past few years. AI and ML have transformed the way financial institutions operate, and both small and large businesses are feeling their impact. In this book, we will delve into how AI is transforming the fintech industry, the history of ML and AI, the costs involved in AI development, how small businesses can benefit from AI, how AI is being used in fintech, and the drawbacks of AI.

The AI Book

The AI Book
Author: Ivana Bartoletti
Publisher: John Wiley & Sons
Total Pages: 304
Release: 2020-06-29
Genre: Business & Economics
ISBN: 1119551900

Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance
Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
Total Pages: 35
Release: 2021-10-22
Genre: Business & Economics
ISBN: 1589063953

This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Artificial Intelligence in Banking

Artificial Intelligence in Banking
Author: Introbooks
Publisher:
Total Pages: 50
Release: 2020-04-07
Genre:
ISBN:

In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, "In a world focused on using AI in new ways, we're focused on using it wisely and responsibly."

Fintech with Artificial Intelligence, Big Data, and Blockchain

Fintech with Artificial Intelligence, Big Data, and Blockchain
Author: Paul Moon Sub Choi
Publisher: Springer Nature
Total Pages: 306
Release: 2021-03-08
Genre: Technology & Engineering
ISBN: 9813361379

This book introduces readers to recent advancements in financial technologies. The contents cover some of the state-of-the-art fields in financial technology, practice, and research associated with artificial intelligence, big data, and blockchain—all of which are transforming the nature of how products and services are designed and delivered, making less adaptable institutions fast become obsolete. The book provides the fundamental framework, research insights, and empirical evidence in the efficacy of these new technologies, employing practical and academic approaches to help professionals and academics reach innovative solutions and grow competitive strengths.

The Future of Finance

The Future of Finance
Author: Henri Arslanian
Publisher: Springer
Total Pages: 318
Release: 2019-07-15
Genre: Business & Economics
ISBN: 3030145336

This book, written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, is a glimpse on what the future of the financial services will look like and the impact it will have on society. The first half of the book provides a detailed yet easy to understand educational and technical overview of FinTech, artificial intelligence and cryptocurrencies including the existing industry pain points and the new technological enablers. The second half provides a practical, concise and engaging overview of their latest trends and their impact on the future of the financial services industry including numerous use cases and practical examples. The book is a must read for any professional currently working in finance, any student studying the topic or anyone curious on how the future of finance will look like.

Human-in-the-Loop Machine Learning

Human-in-the-Loop Machine Learning
Author: Robert Munro
Publisher: Simon and Schuster
Total Pages: 422
Release: 2021-07-20
Genre: Computers
ISBN: 1617296740

Machine learning applications perform better with human feedback. Keeping the right people in the loop improves the accuracy of models, reduces errors in data, lowers costs, and helps you ship models faster. Human-in-the-loop machine learning lays out methods for humans and machines to work together effectively. You'll find best practices on selecting sample data for human feedback, quality control for human annotations, and designing annotation interfaces. You'll learn to dreate training data for labeling, object detection, and semantic segmentation, sequence labeling, and more. The book starts with the basics and progresses to advanced techniques like transfer learning and self-supervision within annotation workflows.

The LegalTech Book

The LegalTech Book
Author: Sophia Adams Bhatti
Publisher: John Wiley & Sons
Total Pages: 282
Release: 2020-06-01
Genre: Business & Economics
ISBN: 1119574285

"Written by prominent thought leaders in the global FinTech investment space, The LegalTech Book aggregates diverse expertise into a single, informative volume. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: The current status of LegalTech, why now is the time for it to boom, the drivers behind it, and how it relates to FinTech, RegTech, InsurTech and WealthTech Applications of AI, machine learning and deep learning in the practice of law; e-discovery and due diligence; AI as a legal predictor LegalTech making the law accessible to all; online courts, online dispute resolution The Uberization of the law; hiring and firing through apps Lawbots; social media meets legal advice To what extent does LegalTech make lawyers redundant? Cryptocurrencies, distributed ledger technology and the law The Internet of Things, data privacy, automated contracts Cybersecurity and data Technology vs. the law; driverless cars and liability, legal rights of robots, ownership rights over works created by technology Legislators as innovators"--

The Digital Banking Revolution

The Digital Banking Revolution
Author: Luigi Wewege
Publisher: Walter de Gruyter GmbH & Co KG
Total Pages: 152
Release: 2019-12-02
Genre: Business & Economics
ISBN: 1547401613

Emergent innovative financial technologies are profoundly changing the way in which we spend, move and manage our money, unlike ever before, and traditional retail banks are facing stiff competition. The global financial crisis in 2007–2009 led to large losses, and even the collapse of a significant number of established banks shaking the trust of financial customers worldwide. The Digital Banking Revolution is an insightful look at how financial technology and the rapid rise of financial technology companies have brought welcome changes offering flexibility to the banking industry. The book offers a unique perspective on the consumerization of retail banking services. It delves into the many changes that financial innovations have brought about in banking, the main financial disruptors, the new era of "banking on the go," and financial innovations from countries around the world before concluding with a discussion on the future of banking including optimizing structures, new strategies for business outcomes, and human resources in the digital era.

Disrupting Finance

Disrupting Finance
Author: Theo Lynn
Publisher: Springer
Total Pages: 194
Release: 2018-12-06
Genre: Business & Economics
ISBN: 3030023303

This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry.