Investorideas.com - How Artificial Intelligence #AI is Transforming Financial Services

Newswire) Autonomous Research, a global research firm focused on financial services, has announced the publication of Augmented Finance and Machine Intelligence, an in-depth look at the way artificial intelligence is transforming the financial services industry. Autonomous estimates that over $1 trillion of today's financial services cost structure could be replaced by machine learning and AI. This would affect 2.5 million employees in the US alone. This shift will impact operations across all functions and segments of the financial industry, from bank tellers to portfolio managers to insurance underwriters. By 2030, Autonomous expects $490 billion in costs to be exposed to AI in distribution, $350 billion in the middle office, and $200 billion in financial product manufacturing.