Banking & Finance


How Artificial Intelligence Will Transform CRE

#artificialintelligence

Artificial intelligence has already redefined a number of industries, but the commercial real estate sector has yet to fully embrace the technology's potential. Despite these demonstrable benefits, the commercial real estate sector has been slow to develop and adopt AI-based technologies capable of improving the way businesses buy, sell, rent, and lease properties and buildings. This can be attributed, at least in part, to apprehension among CRE professionals regarding automation-driven job loss and the impersonalization AI represents -- concerns that are more or less unfounded. AI presents a distinct competitive advantage for those CRE professionals willing to embrace its potential to augment their abilities.


Is Machine Learning the best way to grow a FinTech company?

#artificialintelligence

Recent advances in technology have enabled financial institutions to explore the applications of machine learning techniques in areas like customer service, personal finance and wealth management, and fraud and risk management. Then builds models which are an essential step to predict fraud or anomaly in the data sets. Lastly, we build models as an essential step in predicting the fraud or anomaly in the data sets. Machine Learning technologies includes several functionalities that can be useful for developing a custom digital assistant such as Speech recognition, access to big data, powerful analytics capabilities and ability to interact on social media etc.


Republicans introduce bills to scrap new bank arbitration rule

Los Angeles Times

The rule unveiled last week by the Consumer Financial Protection Bureau would ban banks and other financial institutions from using arbitration clauses to block customers from bringing or joining class-action suits. On Thursday, GOP members of the House Financial Services Committee and Senate Banking Committee introduced resolutions that would do just that. The CFPB rule would allow that practice to continue, but would ban arbitration clauses that also ban consumers from bringing class-action suits. Rep. Maxine Waters of Los Angeles, the ranking Democrat on the House committee, called Thursday's action an "outrageous" move that would harm consumers.


How AI Is Reshaping The Accounting Industry

#artificialintelligence

Yet what really amazes me isn't just the benefits bots and AI are bringing to the accounting scene -- it's how these benefits are being brought to it. Bots are now able to determine and categorize all information into different accounts by themselves, which means artificial intelligence is already delivering solo performances in the field. For instance, bots can tell and organize data coming from the same source into different categories, so if you have a monthly subscription phone bill and a purchased phone bill coming from the same phone carrier, the bots will automatically understand that they have different natures and will set them under different chart of accounts. As it stands right now, administrative jobs are slowly becoming scarcer, and even some operational tasks traditionally performed by accountants, such as dedicated accounts payable and accounts receivable ones, are already being performed by AI.


Neural Nets Gaining Traction With Banks

#artificialintelligence

Banking, insurance and financial services are driving the vibrant neural network software market along with growing uptake in the health care market, according to a new market forecast. Meanwhile, market researcher Technavio reported last week that global demand for neural network software is being fueled by financial services, which accounts for about 45 percent of the total market. Emerging applications included medical research, medical imaging and controlling new medical devices based on biofeedback. Another software vendor, Neurala, which specializes in deep learning neural network software deployed in platforms ranging from robots to smart cameras, said Monday (July 17) it is working with Motorola Solutions (NYSE: MSI) to integrate its software with intelligent cameras.


MEDICI Top 21- AI: Leading Companies Applying AI to Build Next-Gen Financial Services Solutions

#artificialintelligence

ForwardLane is a B2B applied artificial intelligence company that supercharges digital advisory and distribution in private wealth management, asset management, and insurance. By synthesizing the collective intelligence of the firm with quantitative insights and market intelligence – client-facing professionals get instant, personalized stories for their clients. Get analyst-level insights from the Q&A expert system and see trending themes across the workforce with real-time analytics.


AI and You Deloitte

#artificialintelligence

Leaders of financial services institutions are concerned and excited about the business implications of Artificial Intelligence. Firms across the globe are becoming aware of the power of these technologies and are now starting to explore how AI could enable them to introduce new services to market, widening and empowering their offering, and to improve existing business and operational capabilities. In this paper, based on an EMEA FSI survey conducted jointly by Efma and Deloitte, we aim at inspect the industry sentiment about Artificial Intelligence and explore the possible and current applications that may impact the industry, enhancing its productivity. Using the insights and case studies from several firms within the industry, this paper identifies what is shaping AI thinking in Financial Institutions, the current state of the industry and the actions that will be required to understand and exploit this exponential technology.


The double-edged sword of Artificial Intelligence

#artificialintelligence

Industrial players like Boeing and Tesla are making big bets on A.I., so it is reasonable to expect that we should see big investments coming through financial services also. In LinkedIn's recent Financial Services Insights Survey, Fintech professionals (63%) and investment bankers (55%) were the most interested in machine learning and A.I.-based investing as key technologies worth watching.


The Startup Behind NYC's Plan to Replace Phone Booths with 7,500 Connected Kiosks

MIT Technology Review

Both cities are replacing outdated phone booths with Wi-Fi kiosks that have embedded computing tablets, USB charging ports, keypads for making phone calls, and large screens that display relevant information to passersby. New York, which started installing its "LinkNYC" kiosks in 2016, currently has more than 900 activated across all five boroughs and plans to increase that number to 7,500. Eventually, information from Intersection's future sensors could be combined to create real-time data maps that might be useful for emerging technologies such as self-driving cars. Next, Intersection is looking to deploy its digital screens in airports, apartment buildings, and office complexes.


In Japan, "Artificial Intelligence" comes to be a super star while "Data Scientist" is fading away

@machinelearnbot

Indeed growing trend of "Artificial Intelligence" in Japan is steeper than that in English, and "Data Scientist" is now getting to be forgotten by people, although in the global market data scientist is still a major role spreading data science including both statistics and machine learning across industries. Although I did not explicitly mention in the post, I guess that Japanese people may think that data scientist is a professional for statistical analysis although artificial intelligence engineer is one for machine learning or artificial intelligence as a misleading technology. A Google Trends above clearly shows that a growing trend of "人工知能" (AI in Japanese) is steeper than that of "artificial intelligence" in English. Now it's an era of "AI", dominated by machine learning engineers, not data scientists, as Japanese people think.