According to experts, there is very little chance a vaccine for COVID-19 will be perfected and ready for use this year. This eagerly sought goal might take place by 2021 at the earliest -- but only if things proceed smoothly with the 60 vaccine trials currently taking place. The latest expert source to attest to this impossibility used its experience in quantitative financial investment to analyze the progress being made by the 60 vaccine candidates. Boston-based PanAgora Asset Management analyzed vast quantities of medical research data to calculate which of the 60 will succeed in producing a successful vaccine within the year. The quick answer is "zero."

While the impact of artificial intelligence (AI) is a bit of a mixed bag in a number of industries, we're seeing some exciting traction in financial services. In this month's article, I take a look at some specific examples of where machine learning and AI are helping financial services organizations improve their services, products, and processes. Financial firms and banks are taking advantage of AI to ensure that their employees are meeting complex disclosure requirements. Generally, financial advisors must make sure that their "client advice" documents include proper disclosures to demonstrate that they're working in their client's best interests. These disclosures may cover conflicts of interest, commission structure, cost of credit, own-product recommendations and more.

New York (CNN Business)Artificial intelligence and machine learning might sound like the stuff of sci-fi movies. But hedge funds, major banks and private equity firms are already deploying next-generation technologies to gain an edge. Citigroup (C) uses machine learning to make portfolio recommendations to clients. High-frequency trading firms rely on machine learning tools to rapidly read and react to financial markets. And quant shops like PanAgora Asset Management have developed complex algorithms to test sophisticated investment ideas.