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Artificial Intelligence in Financial Services


Financial organizations have realized that they can apply the advanced analytics for their internal as well as external benefits as they have large datasets and experience with the analytical tools. If you are looking for Artificial Intelligence Company for Banking and Finance Sector, Webtunix is Right Choice for you to offer Artificial Intelligence in Financial Services and Banking Sector. Machine learning applications are improving banking, payment systems, and more powerful insights into the financial sector every day. Artificial Intelligence in Financial Services and Machine learning as a service is making the banking and financial sector smarter. Smarter means that they can have better customer insights and improved customer experience.

Britain's Brexit Plan Will Damage Financial Services: City of London Boss

U.S. News

In a major policy shift, Britain has abandoned a plan for close ties with the EU for financial services, instead saying it would push to improve the EU's legal mechanism for access to countries outside the bloc known as "equivalence," where access is patchy and can be revoked at short notice.

Over half of firms believe AI robotics will shape financial services


Nearly 55% of banking and wealth management professionals believe artificial intelligence (AI), robotics and automation will shape the future of the global financial services industry. According to research by Avaloq, nearly 34% cited the increasing use of more open and collaborative platforms and 26% cited the rise of distributed ledger technologies and cryptocurrencies. The research also found that three of the top current areas digital infrastructures are delivering significant improvements in performance include: ensuring compliance under changing regulations, improved customer experiences and better cyber security. Superior customer experience was singled out as the most competitive advantage for institutions to have in five years' time. Nearly 41% of respondents cited this as their preferred competitive advantage and 19% for'operational efficiency'.

Will financial analysts lose their jobs to intelligent trading machines?


The next wave of artificial intelligence (AI) will likely be used by hedge funds making long-term macro plays around things like oil prices, involving more data than an analyst could crunch in a lifetime. Although habitually secretive, the use of machine learning and AI among the hedge fund community has been well publicised. Bridgewater Associates, the world's largest hedge fund with about 154 billion ( 109bn) under management, has been vocal about its use of AI. And it's not uncommon to hear about investment firms hiring data scientists with PhDs in neural networks, or physicists and astronomers who can remove the noise from data signals. Publicis.Sapient AI leader Josh Sutton, who has worked in financial services for 15 years and has some hedge funds among his clients, expects to see a confluence of causal analytics and long-term macro strategies.

Robotics and AI Will Quickly Transform Financial Technology


Advances in robotics and artificial intelligence are poised to disrupt several areas of financial services and capital markets, predicts PwC in its recent report, "Financial Services Technology 2020 and Beyond: Embracing Disruption." "We are already seeing alliances between leading incumbent financial services and technology companies, using robotics and AI to address key pressure points, reduce costs and mitigate risks," the report states. Cognition and interaction capabilities, in particular, continue rapid advancement in robotics, opening up their potential to eventually perform a greater number of tasks, and more complex ones. Where ATMs today represent a very simple, purpose-built robot, PwC predicts that it won't be long before robotic process automation will make serious inroads in financial services digital operations. As labor costs in traditional offshoring destinations rise, PwC also predicts that robotics and AI capabilities could also become legitimate substitutes for many human workers. That development could "spur re-shoring, as more tasks can now be performed at a competitive cost on-shore. Even functions that seem dependent on human input, such as product design, fraud prevention and underwriting, will be affected."