AI could also have a transformative effect on clinical decision-making through the utilisation of the huge levels of genomic, biomarker, phenotype, behavioural, biographical and clinical data that is generated across the health system. Bayer and Merck & Co provide a perfect example of this. They have developed an AI software system to support clinical decision-making of chronic thromboembolic pulmonary hypertension (CTEPH) – a rare form of pulmonary hypertension. The software helps differentiate patients from those suffering with similar symptoms that are actually a result of asthma and chronic obstructive pulmonary disease (COPD), and therefore diagnose CTEPH more reliably and efficiently. The CTEPH Pattern Recognition Artificial Intelligence obtained FDA Breakthrough Device Designation in December 2018.

Using machine learning, a small team of four researchers were able to identify … The CTEPH Pattern Recognition Artificial Intelligence obtained FDA …

Rather than making it obsolete, artificial intelligence appears poised to revitalize the wealth management sector, ensuring that customers can rest easy knowing they are getting the benefit of fresh insights and streamlined processes. Far from taking the human element out of wealth management, it'll let us personalize services even better, streamlining complex processes and making the business of handling clients' wealth more effective and profitable for all. There's a reason a tech giant like IBM and its Watson AI are dipping their toes into wealth management -- our field has a great deal of improvement at our fingertips, the kind that'll lead to greater returns for both ourselves and our clients. While the full suite of services wealth managers offer will never be as simple as pushing a few buttons, those of us knee-deep in the complexities of wealth management work are about to get a valuable new tool. Here's a look at just how AI will be changing the wealth management business in the coming years.

The Twin Cities metro also offers something bankers used to fear but are now embracing: access to artificial intelligence.

In an industry that is progressing at a blistering speed, finance's only option to stay on top of the game is with AI, reducing the roles humans have played for centuries. Unless you've been hiding under a rock for the past two years, you would have seen the bedlam surrounding the stratospheric rise of cryptocurrency. This is particularly relevant with bitcoin, going from something at the fringe of fintech to the mainstream as every person and their dog suddenly considered investing in a real unknown quantity. While its long-term existence remains to be seen, the continued interest has shown that traditional banks and the latest start-ups have identified that the old ways of turning up to a branch, or even using an ATM, could be the banking equivalent of watching a movie on VHS. In its place comes a raft of new technologies, none more so apparent than the one that promises to not only shake up how customers interact with their banks, but how banks fundamentally operate: artificial intelligence (AI). From an outsider's perspective, the most obvious sign of AI's role in the change of banking is part of the overall digitisation of the traditional bank, whereby instead of dealing with physical branches or human tellers, you operate largely online, particularly through mobile.