Machine Learning for Financial Risk Management with Python: Algorithms for Modeling Risk: Karasan, Abdullah: 9781492085256: Amazon.com: Books

Many applications, or use "cases," of AI and machine learning already exist. The adoption of these use cases has been driven by both supply factors, such as technological advances and the availability of financial sector data and infrastructure, and by demand factors, such as profitability needs, competition with other firms, and the demands of financial regulation. As a subbranch of financial modeling, financial risk management has been evolving with the adoption of AI in parallel with its ever-growing role in the financial decision-making process. In his celebrated book, Bostrom (2014) denotes that there are two important revolutions in the history of mankind: the Agricultural Revolution and the Industrial Revolution. These two revolutions have had such a profound impact that any third revolution of similar magnitude would double the size of the world economy in two weeks. Even more strikingly, if the third revolution were accomplished by AI, the impact would be way more profound.