Artificial Intelligence: Opportunities and challenges in finance industry

Fintech is having a huge impact on the finance industry, with artificial intelligence (AI), machine learning, data analytics and blockchain, all changing the way the industry works. The rapid pace of development and expected adoption of fintech technologies has led many industry experts to believe that the finance profession has peaked and that there will be the need for fewer finance professionals going forward. Although this is a very bold statement, there are varieties of reasons that point to this being the case. The foremost factor is blockchain technology (also known as Distributed Ledger Technology) and its potential seismic impact on financial transactions across the globe. Blockchain technology has started sweeping the different areas of transactional finance, such as clearing, settlement, payments and execution.