The Impact of AI on the Finance Industry

A race towards digitization is bringing a revolution in the Financial and FinTech sectors. At the core of this digitization lies the availability of a vast array of data (such as Big Data), advancements in affordable computing technologies, and the advent of intelligent technologies such as Machine Learning and Artificial Intelligence. AI has been around for nearly 70 years, its practicality and intelligence have increasing over time. Today, AI has become an integral part of the industrial landscape as well as the lives of common people. Examples of this can be seen in the voice assistants in smartphones, the use of AI robots in supply chain logistics, self-driving cars, movie recommendations on Netflix, and more.