IIF Authors

Status: Will be live at 03/03/2016 00:00

Digitizing Intelligence: AI, Robots and the Future of Finance

Thursday, March 3, 2016

Collapsing costs in computing, geometric growth in data, and intense competition between deep-pocketed companies have begun delivering breakthroughs in artificial intelligence (AI). Within financial services, AI technology could allow companies to establish new business models, reduce risk and expense, and increase productivity. It could also enable both large and small firms to offer financial services at a level of sophistication, customization and scale never previously possible. While the potential benefits of the innovation are substantial, a growing number of concerns are emerging too, ranging from accountability and privacy issues to the automation of white-collar jobs and even existential threats as cautioned by a growing number of prominent scientists and thinkers. This paper examines the current and near-term applications of AI in finance and the potential concerns, risks, and opportunities surrounding the technology for the industry. Below is a visual snapshot of the full paper.'