Artificial Intelligence: How Modern Financial institutions Use AI?

This article was written by Graham Ellinson, a Financial Analyst at I Know First.
 

How Modern Financial institutions Use AI?

“Some people call this artificial intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we'll augment our intelligence.” — Ginni Rometty

Summary

  • The original use of AI by Banks was for fraud detection.
  • Aside from fraud detection many financial institutions have been slow to implement AI.
  • The UK bank Barclays have started experimenting with AI after becoming the flagship customer of AI simulation firm Simudyne Technology.
  • I Know First are unique: providing an AI product that boasts successful performance in daily market forecasting and wealth management solutions.
Artificial Intelligence is a word that gets thrown around a lot these days. Especially with the entrance of AI into the home with the likes of Amazons Alexa and Apples Siri it is now something that regular consumers interact with on a day-to-day basis. What this means is that it can lead to common misconceptions about AI and its uses. To some it is a smart assistant to others it is that annoying machine who answers the phone when you call customer services. However, AI has a wide range of uses and surprisingly in some cases still limited.

Source: www.iqlect.com

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AI Wealthtech: Ten Key AI Terms and Their Applications in the Wealth Management Industry

Source: Wikimedia Commons

Artificial Intelligence

Artificial intelligence (AI) is a branch of computer science that aims to create intelligent machines that can think and learn for themselves. In 1950 when computers where just starting Alan Turing was asking the question “can machines think?” This question is still debated to this day but there is little doubt that Turing would be incredibly impressed with modern computing and what it has achieved in this field.

Modern AI is able to beat grand masters in chess and be used to predict financial markets. The term is still pretty loose with no real set of clear boundaries defining it but any machine that is able to think intelligently and learn is generally considered to be an Artificial Intelligent machine.

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Drying Out Dark Pools and Forecasting Trading Volume

 

This article was written by Julia Masch, a Financial Analyst at I Know First.

 

Highlights:

  • Trading Volume Definition
  • Delving Into Dark Pools
  • In The I Know First Pipeline: Forecasting Trade Volume

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The New Workforce: The Impact of AI on Human Investors

The Impact of AI on Human Investors

Our intelligence is what makes us human, and AI is an extension of that quality.” – Yann LeCun

Summary:

  • A growing fear in the financial sector is that robots will soon replace quantitative hedge fund managers and traders.
  • Potential uses for AI within the financial sector include ‘Algo-trading’ and portfolio management.
  • To date very few financial institutions are confident to grant full managerial control to a machine.
  • The I Know First Market Prediction System models and predicts the flow of money between the markets.


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The AI Renaissance: 5 Top AI Stocks To Consider

 

This article was written by Julia Masch, a Financial Analyst at I Know First.

 

Highlights

  • How NVDA, MSFT, YEXT, PFE, and BIDU Are Utilizing AI
  • Technical Analysis
  • Top Stock Pick By I Know First Algorithm

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The Future Of Risk Management Part 2: Quantifying Uncertainty

 

This article was written by Julia Masch, a Financial Analyst at I Know First.

 

Highlights

  • Understanding Uncertainty
  • Bayesian Updating & Algorithmic Advantages
  • In the Pipeline: Quantifying Uncertainty

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The Future of Risk Management Part 1: Forecasting Liquidity

This article was written by Julia Masch, a Financial Analyst at I Know First.

 

Highlights:

  • What is a liquidity forecast?
  • Why does it matter?
  • I Know First’s Plans To Predict Liquidity

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