How will Artificial Intelligence impact finance?

"AI and machine learning will undoubtedly alter both the headcount and the nature of skills required in the industry. A significant minority of survey respondents fear the effects on the workforce will be negative within the next few years. But wholesale displacement of humans is for the longer term – nearly seven in ten believe AI will bring complete or substantial change to their own jobs over the next 15 years…" A while ago, I wrote that AI and machine learning was more and more used in our daily lives – but that finance had so far failed to embrace these techniques. Euromoney Thought Leadership just published a very interesting report, where they surveyed 400 senior managers in finance and analysed their views about AI. I was actually slightly suprised by the results: the majority of participants thought that the main impact would be on 1) trading strategies, 2) credit scoring and 3) compliance.