The use of artificial intelligence (AI) and machine learning is a relatively new concept in the world of investment, but it is one that is increasingly gaining traction and its popularity is only set to growth along with technological advances. In a recent report, Thematic Investing: Transforming World, Bank of America Merrill Lynch identified big data and AI as one of the five key themes set to shape our world in the next five years, with areas such as technology, e-commerce and payments seeing particularly strong tailwinds. "The pace at which themes are transforming businesses is unprecedented today, but we believe this rate of technological change will be faster still over the next five years," the report said. "The exponential growth of data (doubling every two-three years), cheapening computing power …and rise of a connected world (Internet of Things, mobile devices, social media) will bring about the fastest transformation in human history." While some industries are already fully embracing artificial intelligence, we are only just beginning to see the impact it can have on financial services.
Apr-13-2019, 06:11:43 GMT