AI Articles and Analysis about Business intelligence and analytics

Some financial institutions have begun investing in departments that focus on artificial intelligence and machine learning applications that could determine their customer's sentiments towards market developments. These applications fall under the category of sentiment analysis. We have previously covered some of the top the machine learning applications in finance. In this report, we focus on AI-based sentiment analysis applications for the finance sector.

McKinsey reported that most oil and gas operators have not maximized the production potential of their assets. A typical offshore platform, according to the 2017 report, runs at about 77% of its maximum production potential. Industry-wide, the shortfall comes to about 10 million barrels per day, or $200 billion in annual revenue.

Our AI in Banking Vendor Landscape and Capability Map report details the state of various AI approaches and capabilities within specific banking functions, measuring them on their level of funding, evidence of ROI and adoption at large banks, and more. In this article, we discuss how and where banks are using natural language processing (NLP), one such AI approach—the technical description of the machine learning model behind an AI product.

Episode Summary: Prominent technology companies like Google and Amazon lead the way in the B2C world, having access to streams of searches, clicks, and online purchases. They have access to large volumes of consumer data points numbering in the billions that can be used to train machine learning algorithms.

Tech Provider: Predii - a company which specializes in building AI platforms designed for repair and maintenance services in the industrial equipment and automotive sector

Natural language processing, (NLP) is one AI technique that's finding its way into a variety of verticals, but the finance industry is among the most interested in the business applications of NLP. In fact, according to our AI Opportunity Landscape research in banking, approximately 39% of the AI vendors in the banking industry offer solutions that involve NLP. 

A recent PricewaterhouseCoopers study revealed that the global market for drone-powered business solutions was valued at $127.3 billion in 2016. For agriculture, prospective drone applications in global projects were valued at $32.4 billion.

We previously covered the top machine learning applications in finance, and in this report, we dive deeper and focus on finance companies using and offering AI-based solutions in the United Kingdom. The UK government released a report showing that 6.5% of the UK's total economic output in 2017 was from the financial services sector. As of now, numerous companies claim to assist financial industry professionals in aspects of their roles from portfolio management to trades.