Banking & Finance


Predicting Portland Home Prices

#artificialintelligence

Predicting Portland home prices allowed me to do this because I was able to incorporate various web scraping techniques, natural language processing on text, deep learning models on images, and gradient boosting into tackling the problem. The Zillow metadata contained the descriptors you would expect - square footage, neighborhood, year built, etc. Okay, now that I was confident that my image model was doing a good job, I was ready to combine the Zillow metadata, realtor description word matrix, and the image feature matrix into one matrix and then implement gradient boosting in order to predict home prices. Incorporating the images into my model immediately dropped that error by $20 K. Adding in the realtor description to that dropped it by another $10 K. Finally, adding in the Zillow metadata lowered the mean absolute error to approximately $71 K. Perhaps you are wondering how well the Zillow metadata alone would do in predicting home prices?


The insurtech trends making the greatest impact in 2017

#artificialintelligence

The insurance disruption space hasn't seen nearly as much activity as fintech, but 2017 has seen the trinity of technological trends - machine learning, AI and Big Data - cross over and fuel the motor of change within InsurTech. As well as the goal of customer retention, the digitisation of customer experience keeps operational costs down and requires little manpower, whilst having digital and cloud based technology makes insurance services better able to cope with an increasingly demanding consumer base who want access to services anywhere and at any time. "More than machine learning", Alberto explains, "we could speak of human learning - both the insurer and SPIXII learn more (and often unexpected) from the behaviours of the customers and apply changes and adjustments in order to increase KPIs". It auto generates an insurance claim, verifies it against its blockchain ledger, and pays its users if the claim is correct.


Mizuho reportedly plans to offer AI trading before EU's MiFID overhaul

The Japan Times

Japan's third-biggest lender will begin offering an algorithm-based AI trading service to some large institutional clients in Japan and elsewhere in Asia, the people said, asking not to be identified because the plan is private. Mizuho's brokerage unit will initially target 500 stocks on Japan's benchmark Topix index, and may increase coverage to 1,000 companies including firms listed on the Tokyo Stock Exchange Mothers market, according to the people. The AI platform uses about 5,000 data points, including order-book information, historical prices and news sentiment for the targeted companies, as well as exchange rates and commodity price changes, to find anomalies and patterns relating to a stock's movements, the people said. Bloomberg LP, the parent of Bloomberg News, provides execution services for firms complying with MiFID II requirements.


Artificial Intelligence to Amplify FinTech

#artificialintelligence

Endowing the modern workforce with AI, machine learning, payment intelligence and advanced analytics fintech will thrive, amplify and fly. The most striking AI solutions to FinTech, banks, insurance companies (now called InsureTech) and any other financial services company will probably be those that have the robust & smart financial systems with data security, machine learning (machine conciseness is very far for now) and strong analytics features in place. AI technology such as specialized hardware, AI based operating systems, strong and large data analytics tools for big data, machine learning algorithms for machine intelligence, payment intelligence, data intelligence and info-security intelligence are being used in fintech to augment tasks that people already perform. With AI power to enable security features of mobile payments mean the technology could gain traction in other areas of B2B payments and escalate blockchain to generalize, any previous application of AI, but now the AI "owns itself".


Chatbots in Banking: Which Are the Top 5 Banks That Have Adopted Chatbots? [Infographic]

#artificialintelligence

Due to Artificial Intelligence, chatbots can pursue and continue a conversation. According to a report released by Gartner, consumers will manage 85% of the total business associations with banks through Fintech chatbots by 2020. If you enjoyed the story, you can read the whole story on Banking chatbots and its benefits for the industry here:"How Chatbots are transforming Wall Street and Main Street Banks?" With his industry experience, he has rapidly developed Maruti Techlabs in specialized services like Chatbot Development, Artificial Intelligence, Natural language Processing and Machine Learning.


Everything to know about the global artificial intelligence and cognitive computing market - WhaTech

#artificialintelligence

An estimated volume revenue growth with respect to global market for Artificial Intelligence and Cognitive Computing over the forthcoming years has been mentioned in detail. The production, consumption, revenue, shares in mill UDS, growth rate of Artificial Intelligence And Cognitive Computing market during the forecast period of 2017 to 2025 is well explained. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants present in the global Artificial Intelligence And Cognitive Computing market. Through this report, consumers can easily get the notion for their growth of global Artificial Intelligence And Cognitive Computing products in the market.


How to Compete for Zillow Prize at Kaggle

@machinelearnbot

It's a crowd-sourced platform to attract, nurture, train and challenge data scientists from all around the world to solve data science and predictive analytics problems through machine learning. With 73 million unique visitors per month, 20 TBs of data and 1.2 million statistical and machine learning models that runs every night to predict the next Zestimates, it is undoubtedly the best machine learning case study for real estate under the sun. While, million dollar seems like a big prize, it's the cost of having 10 data science engineers in Silicon Valley for eight months for 100,000$ a piece, whereas, to-date there are 2900 teams participating and competing for this prize from all around the world, with a typical size of three members per team, 8700 individuals it is just 114$ per engineer, which is equivalent to 14$ per month or 1.7$ per hour per data scientist. To submit your first kernel, you can fork my public kernel – how to compete for Zillow prize – first kernel and run it.


How AI apps for banks are changing the face of the financial sector

#artificialintelligence

This not only helps end users quickly get vital inputs on suitable financial products, but also helps banks market and sell the most appropriate products to users. These AI-based applications can integrate with a user's online bank accounts, debit and credit cards, and e-wallets to track their expenses, present advice on better expense management practices, and help them choose more suitable financial products that sit well with their financial habits, liquidity requirements, and short-term saving goals. With all these information inputs and highly sophisticated algorithms, these AI models are able to make investment decisions very quickly. Very soon, financial services will recognize the dire need to adopt AI applications to deliver sophisticated, personalized, and highly secure services to clients.


Blockchain Powered AI Doctors to Revolutionize Medicine

#artificialintelligence

Furthermore, through machine learning, the data collected will be analyzed and processed in order to provide personalized feedback to users about their own medical issues. The intermingling of the burgeoning technology of Artificial Intelligence and equally revolutionary Blockchain has seen Doc.ai's team propose their platform can answer personal medical questions - from masses of data collected - at a touch of a button. "We are making it possible for lab tests to converse directly with patients by leveraging advanced artificial intelligence, medical data forensics, and the decentralized Blockchain. The details of this platform may sound a lot like science fiction, but it is essentially the manipulation of data which is analyzed by machine learning, to provide medical answers.


We Were Kings (Or When Things Went To Zero)

#artificialintelligence

My bleak forecast does not stem from the notion behind the common fintech (financial technology) and insurtech (insurance technology) industry pitch that they will change their respective industries with innovation and better customer experiences, although I firmly believe that some of the startups will cause significant pain to the incumbents and will indeed change their respective industries. These organizations will use their customers and employees to sell banking and insurance solutions, and the big financial institutions will become at best dumb pipes. What is terrifying to imagine is a situation in which tech giants or other big companies provide financial service solutions at or below production costs. The new competitors would not need to earn money and could even afford to lose money in offering financial solutions if these features entice customers and new potential clients to use the companies' core offerings.