Financial services sector forges ahead with artificial intelligence ZDNet

The use of artificial intelligence (AI) is quickly expanding within the financial services industry in the US, according to a new report from Broadridge Financial Solutions, a provider of technology to banks, brokers, asset managers, and other businesses. Broadridge surveyed 153 financial services professionals at the Securities Industry and Financial Markets Association (SIFMA) Operations Conference & Exhibition in May 2019, and found that the sector's top priority for AI applicationsis data mining, cited by 36% of the respondents. That was followed by post-trade processing (20%), market analytics (13%), and trading systems (12%). A majority of respondents (84%) said their company is in or past the "Enlightenment Age" of AI, during which they are at or beyond proof of concept. Twenty-nine percent have moved into the "Industrial Age", with pilot programs, and 20% are in the modern "Information Age," with AI in full production.