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Application of Artificial Intelligence in Finance Artificial intelligence has become a real game changer in the world of finance. While we might think that artificial intelligence is at least a few years away from causing any considerable effects on our lives, the fact remains that it is already having an enormous impact on us. Artificial Intelligence (AI) is a powerful tool that is already widely deployed in financial services. Traders, wealth managers, insurers, and bankers are likely well aware of this in some form. However, it is the finance industry which is claimed to have benefitted the most with the help of Artificial Intelligence. The finance sector has proven itself an early adopter of AI in comparison to other industries. According to a Gartner survey, 27% of financial departments expect to deploy some form of artificial intelligence or machine learning and half of the respondents — predictive analytics by 2020. Artificial intelligence (AI) technology has transformed the consumer financial services market and how consumers interact with the financial services ecosystem. Early investments by large firms, including several of the Big Four, have paid off with advanced technology that can, among other things, slash the amount of time accountants spend on complex audits and asset estimates. Cognitive computing , Chatbots , Personal Assistant, Machine Learning are all peripherals of AI used in the finance industry extensively nowadays. Alexa, Siri, Cortana, and Google Assistant are just some of the most notable examples of artificial intelligence we’re all familiar with. ... 7 Examples Of Artificial Intelligence In Finance. Artificial intelligence has been around for a while, but recently it is taking on a life of its own, invading various segments of business, including finance. Artificial intelligence in finance is transforming the way we interact with money. Following companies use IoT in their finance applications and have been quite successful in doding. by Admin February 6, 2020 June 15, 2020 0 203. A cost-effective, high ROI approach to train AI models for finance. We interact with our PAs regularly – ask them for directions, information about the weather and the news. The entire tech world is debating the consequences of artificial intelligence and the part AI is going to play in shaping our future. Artificial intelligence isn't coming. It's already here. Appen provides customizable options across data types, languages and security demands for the financial services industry. In our previous report, we covered 6 use-cases for AI in business intelligence. An AI system can examine millions and billions of data points, and find patterns and trends that people may miss, and even predict future patterns. It has great potential for positive impact if companies deploy it with sufficient diligence, prudence, and care. 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