Can Artificial Intelligence Help Avert The Next Financial Crisis?

The current COVID-19 situation has alerted the world about the impending global financial crisis that we may face at the starting of this decade. It also reminded us of the Great Depression, triggered by the Wall Street crash of 1929 and last till 1939, and economic meltdown of 2007-2008 which was caused due to the collapse of Lehman Brothers (one of the biggest investment banks in the world). While such seismic scale emergencies on the economic front are rare, the financial crisis is always unfortunate. This is why experts and leaders are looking for solutions using modern technologies like artificial intelligence (AI) to mitigate any future occurrences. Since most of these financial crises happened because of stock market crashes and loosened credit lending standards, AI can play an instrumental role in the early forecast of potential market crashes and detecting faulty lending standards.