Machine-Learning on the Rise in Financial Services: Refinitiv

Conducted via 447 telephone interviews of senior executives and data-science practitioners across various financial services firms, the survey also found the quality of data as the primary barrier to machine-learning adoption. Machine-learning has long been the mainstay of deep-pocketed hedge funds, which have combined complex algorithmic strategies with financial data to make big bets on markets. But with the growing use of cloud computing and the constant pressure on banks to reduce costs, machine-learning techniques have seen a greater acceptance among banks. "Thanks to parallel computing and cloud computing, we are seeing the playing field being slowly leveled in terms of machine-learning strategies," said Tim Baker, global head of applied innovation at Refinitiv. The survey also found foreign exchange ranked a distant fourth in terms of structured data by asset class with stocks, fixed income and derivatives the top three.