How Is Machine Learning Used In Finance?

Machine learning is a facet of Artificial Intelligence (AI) and a data analysis method based on the idea that computer systems and machines can learn from data by identifying patterns and making decisions without excessive human intervention. The global machine learning market is estimated to grow from USD 1.41 Billion in 2017 to USD 8.81 Billion by 2022. Machine learning can be used in diverse industries and the finance sector is one of those. To precisely enable financial establishments to identify suspicious activity and prevent fraud is again the functionality of machine learning. The shopping recommendations you receive based on your online activity and purchase history result from machine learning.