AI Articles and Analysis in Finance

Explore articles and analysis related to artificial intelligence in finance, including coverage of banking, insurance, fintech, and more.

AI in the Indian Financial Sector - Current Traction, Opportunities and Challenges

AI in the Indian Financial Sector – Current Traction, Opportunities and Challenges

The banking and financial sectors are among the top five applications for artificial intelligence across the globe. With India seeming to have woken up to the potential of AI, we decided to cover the developments in the Indian artificial intelligence sector. We then researched the use of AI in the Indian financial services market to better understand where AI comes into play and to answer the following questions:

AI for Cybersecurity in Finance - Current Applications

AI for Cybersecurity in Finance – Current Applications

In 2017, Equifax’s systems were compromised by hackers, and the data of over 143 million Americans was exposed. Other incidents, such as the WannaCry and Petya ransomware scams, have highlighted the vulnerabilities in financial cybersecurity globally. According to the Global Banking and Finance Review, such cyber attacks have cost nearly USD 360 billion per year in losses for each of the last three years.

AI for Claims Processing and Underwriting in Insurance - A Comparison of 6 Applications 2

AI for Claims Processing and Underwriting in Insurance – A Comparison of 6 Applications

The insurance industry is looking to adopt artificial intelligence applications for a variety of business functions due to its access to large volume of customer data. According to our AI Opportunity Landscape research in insurance, approximately 46% of AI vendors in insurance offer solutions for claims and 43% offer solutions for underwriting. While there are other areas of insurance that could benefit from AI, it's clear that these two core insurance tenets are where the traction is with AI in the industry.

Artificial Intelligence in Debt Collection - Near-Term Applications 1

Artificial Intelligence in Debt Collection – Near-Term Applications

According to the Consumer Financial Protection Bureau, Americans filed more grievances about debt collections than about any other financial incident. Of the 316,810 complaints received by the CFPB about debt collection in 2017, the most common was, “Continued attempts to collect debt not owed,” which was cited by 39 percent of grievance filers.

AI in Blockchain - Current Applications and Trends

AI in Blockchain – Current Applications and Trends

Today, two highly discussed disruptive technologies are artificial intelligence and blockchain. In this piece, we aim to highlight projects where AI and blockchain might be used together to support the B2B environment.

Machine Vision in Finance - Current Applications and Trends

Machine Vision in Finance – Current Applications and Trends

According to the Automated Imaging Association (AIA), machine vision is a combination of hardware like cameras, image sensors, and image processing software that can help automate applications like inspection and analysis by allowing machines (such as robots) to ‘see’ their surroundings.  

Stock Brokerage Firms and Artificial Intelligence - Current Applications

Stock Brokerage Firms and Artificial Intelligence – Current Applications

Stockbrokerage might be viewed by investors as a traditionally human-based service allowing them to buy and sell equities. When looking at the shift in how stock brokerage is different today compared to the early 2000s, the largest change seems to be in software-based automation. Put simply, a lot of what was being done by humans (such as executing trades, giving advice to investors, discretionary trading) can now be done through software.

NLP for Text Summarization and Team Communication

NLP for Text Summarization and Team Communication

Episode Summary: In this episode of the podcast, we interview AIG’s Chief Data Science Officer, Dr. Nishant Chandra, about natural language processing (NLP) for internal and team communication. Dr. Chandra talks about how NLP can help with sharing documents with specific team members whose roles warrant viewing those documents.

Finance

Explore articles and analysis related to artificial intelligence in finance, including coverage of banking, insurance, fintech, and more.