Artificial intelligence is drastically changing the future of finance. Financial institutions spent over $10.1 billion on AI last year. One of the many ways that AI is being leveraged in finance is by helping improve the experience of investors. Modern investors enjoy a much smoother trading experience than their predecessors. Thanks to the invention of the internet, everything from conducting trades to downloading comprehensive reports can be completed almost instantly.

The influence of Artificial Intelligence (AI) and its application in various industries have brought about a positive outlook on how operations are done in many sectors. In direct contrast to traditional methods, AI is making processes more smooth, beneficial to businesses by reducing overhead costs on labor and human error. AI in financial technology (Fintech) has also seen vast applications and not just in banking and financial management but also in catering to the advisory portion of it. With AI in the mix, Fintech companies can now offer customers 24/7 support along with and reduce operational fees levied for their services. Fintech isn't just for financial institutions but also for businesses that employ financial services as part of their operations.

There's no doubt that the finance industry is undergoing a transformational change. The recent years have seen a rapid acceleration in the pace of disruptive technologies such as AI and Machine Learning in Finance due to improved software and hardware. The finance sector, specifically, has seen a steep rise in the use cases of machine learning applications to advance better outcomes for both consumers and businesses. Until recently, only the hedge funds were the primary users of AI and ML in Finance, but the last few years have seen the applications of ML spreading to various other areas, including banks, fintech, regulators, and insurance firms, to name a few. Right from speeding up the underwriting process, portfolio composition and optimization, model validation, Robo-advising, market impact analysis, to offering alternative credit reporting methods, the different use cases of AI and Machine Learning In Finance are having a significant impact on this sector.

Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, March 13, 2020.

Robo-Advisor is an online helping hand for all the top notch organizations who want to cut off their overhead costs and boost their profits with expert digital advice while at the same keeping investors' profits in-check. For some of them, Robo advisor is still a confusing and new term as the automation of finance is something not everyone can understand and adapt to immediately. DCI, being one of the few projects, providing Robo-Advisor based investment assistance, aims to make the investment process easier and more convenient for everyone through its AI-powered digital investment solution. Let's start by getting familiar with the term Robo-Advisor. A Robo-Advisor is basically a digital (virtual) financial advisor that offers expert advice and services regarding financial investments and plans to clients, based on their financial situations and needs.

Machine learning is one of those technologies that is invariably around us but one that we might not even comprehend. For instance, machine learning is employed to resolve issues like deciding if an email that we got is spam or a genuine one, how cars can drive on their own, and what product someone is likely to purchase. Every day, we tend to see these sorts of machine learning solutions in action. This definition brings up the key component of machine realizing, specifically that the framework figures out how to tackle the issue from illustration information, instead of us composing a particular rationale. This is a noteworthy advancement for how writing a computer program is finished.

As robo-advisory platforms become more common around the world, the focus of these service providers has shifted to creating a robust investment framework rather than just providing a convenient and affordable way to invest, says Michele Ferrario, co-founder and CEO of Singapore-based robo-advisor StashAway. After all, robo-advisory platforms are already commonplace in some countries, with the bigger players in the US -- such as Wealthfront and Betterment -- managing billions of dollars. The first robo-advisor was established a decade ago. "Globally, robo-advisory models are maturing. The basic value proposition of a very nice user interface and low-cost investing is not enough anymore and the importance of the investment framework and asset allocation is gaining prominence. You will see that the new players in Europe have a very strong focus on risk management and asset allocation and you will see more established US players talk about how they manage money," says By comparison, robo-advisors are not as common in Southeast Asia.

Artificial intelligence is changing the world of retirement planning. By using improved datasets and algorithms to efficiently deliver solutions tailored to people's needs, AI can help them save, invest and retire better. One of the hottest trends to emerge in this area in recent years is the use of robo-advisors. These are software programs that use the data supplied by clients to create and automatically manage their investment portfolios. They're gaining in popularity, but are they better than human advisors?

It's undeniable that robots are part of our future; they already play huge roles in numerous facets of our everyday lives right now. But should you rely on robo-advisors to control your finances? In a new piece for CNBC, Eric Jansen, the founder, president and chief investment officer of AspenCross Wealth Mangement, breaks down the pros and cons of employing a robo-advisor. It sounds like something out of sci-fi, but yes, it's now a reality thanks to recent AI and FinTech developments: you can now hand your cash to robots so they can apply their cold, calculated machine efficiency to make it grow into more money. Go to any FinTech hub like New York City or San Francisco and you'll find numerous companies specializing in this service.

Robo-advisors are a class of software which based on mathematical algorithms advise the bank's clients how to structure their financial portfolio. With this they replace human finance advisors. As known from business administration lectures, finance advisers are, strictly spoken, a contradiction, as if the bank employee would be able to predict the future of the stock markets, he or she should not have to work anymore in the bank, but enjoy life thanks to the personal earnings. Robo-advisors can work on different levels. The intelligent software receives information about the company's financial results, performance and outlook.