AI In Financial Services: Three Current And Emerging Applications

While the impact of artificial intelligence (AI) is a bit of a mixed bag in a number of industries, we're seeing some exciting traction in financial services. In this month's article, I take a look at some specific examples of where machine learning and AI are helping financial services organizations improve their services, products, and processes. Financial firms and banks are taking advantage of AI to ensure that their employees are meeting complex disclosure requirements. Generally, financial advisors must make sure that their "client advice" documents include proper disclosures to demonstrate that they're working in their client's best interests. These disclosures may cover conflicts of interest, commission structure, cost of credit, own-product recommendations and more.