AI Articles and Analysis in Finance

We've noticed a lot of interest from our readers for our pieces dealing with AI applications in the finance and banking sectors. New applications for artificial intelligence often seem to develop by transferring an existing use-case in a related field, and this might be the case with AI applications for ATMs as well.

The ability of companies to collect external data is likely to change the insurance industry as it is today. Traditionally, insurance companies would collect internal data from customers: data such as their weight, gender, and any family history of health issues. However, with the advent of technologies making possible the collection of data specific more to individuals than large groups of people, insurance companies could be able to offer unique, tailor-made policies to their customers.

Last year, Boston Consulting Group reported that banks were tracking three times as many individual global regulatory changes as compared to 2011. The report added that these institutions were averaging 200 regulatory revisions per day in 2017.

Asset and wealth management firms are exploring potential AI solutions for improving their investment decisions, and making use of their troves of historical data. In fact, according to our AI Opportunity Landscape research into the banking industry specifically, approximately 13.5% of the AI vendors in banking offer solutions for wealth and asset management.

Episode Summary: Natural language processing (NLP) has become popular in the past two years as more businesses processes implement this technology in different niches. In inviting our guest today, we want to know specifically which industries, businesses or processes NLP could be leveraged to learn from activity logs.

Robo-advisors are digital platforms that provide automated, algorithm-based financial planning services with little to no human supervision.

Episode summary: In this episode of AI in Industry, we speak with Andy Terrel, the Chief Data Scientist at REX - Real Estate Exchange Inc., about how AI is being used in the real estate sector today.

Developments in artificial intelligence have had global banks recently integrate online chatbots into their websites and mobile apps. Smaller, newer banks are following this example. The gaining popularity of chatbots could be considered surprising for an industry that handles other people’s wealth and perceives security as top priority.