scholarly journals Theory and application of artificial intelligence in financial industry

2021 ◽  
Vol 1 (2) ◽  
pp. 96-116
Author(s):  
Yuxin Li ◽  
◽  
Jizheng Yi ◽  
Huanyu Chen ◽  
Duanxiang Peng ◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Financial Industry

scholarly journals RUSSIAN MATRIX OF THE DIGITAL PROFILE OF THE RUSSIAN

2020 ◽  
Vol 1 (25(52)) ◽  
pp. 39-52
Author(s):  
Alexander Arsenievich Petrov
Keyword(s):  
Artificial Intelligence ◽  
Control Systems ◽  
Continuous Monitoring ◽  
Population Control ◽  
The State ◽  
Business Community ◽  
Smart Sensors ◽  
Financial Industry ◽  
High Quality ◽  
Public And Private

The development of artificial intelligence accelerated the development and application of smart sensors and human observation and study systems, and the establishment of continuous monitoring of it using various sources. The financial industry has always sought to collect as much data as possible about its customers. Many countries have begun to create population control systems. China leads the development of such a system. In 2020, Russia launched a digital citizen profile system, which should ensure high-quality interaction between the population, the business community and the state through the collection, processing, archiving and analysis of information from public and private sources. How the system will be used: in the name of Good or Evil depends on those who make the decision and use it. The main carrier of information about oneself is the person himself.

When Technology Meets Finance

2021 ◽  
pp. 1-21
Author(s):  
Yousif Abdullatif Albastaki
Keyword(s):  
Artificial Intelligence ◽  
Financial Institutions ◽  
Financial Services ◽  
Major Part ◽  
The Internet ◽  
Financial Industry ◽  
Digital Innovation ◽  
Customer Expectations ◽  
The Internet Of Things

There is a paradigm shift in the financial services industry. Combined with ever-changing customer expectations and preferences, emerging technologies such as artificial intelligence (AI), machine learning, the internet of things (IoT), and blockchain are redefining how financial institutions deliver services. It is an enormous task to remain competitive in this ever-changing environment. Financial institutions see FinTech as a major part of the digital future, and as proof of this, since 2015, financial institutions have invested over US$ 27 billion in FinTech and digital innovation. This chapter is an introductory chapter that explores FinTech in the literature. It focuses on how FinTech is reshaping the financial industry by describing FinTech phases and development process. The financial products and services using FinTech are also described with a highlight on Islamic FinTech. The chapter finally concludes by describing the future of FinTech.

scholarly journals Construction of Special Program of Artificial Intelligence in Applied Universities of Finance and Economics

CONVERTER ◽  
2021 ◽  
pp. 708-712
Author(s):  
Linge Wang
Keyword(s):  
Artificial Intelligence ◽  
Colleges And Universities ◽  
Current Situation ◽  
Special Program ◽  
Financial Industry ◽  
Implementation Plan ◽  
Teaching Objectives ◽  
Financial Application ◽  
Specific Implementation

The development of AI technology has affected all walks of life in society, and then brought about the urgent demand for intelligent, compound and applied talents. Through the analysis of the current financial industry, finance and other industries, combined with the current situation of compound talent training in Financial Colleges and universities, the construction path of the "AI" special program in financial application colleges and universities is proposed, and the specific implementation plan of the course construction is described from the education objectives, curriculum objectives, teaching objectives, teaching plans and other aspects.

scholarly journals Audience-Dependent Explanations for AI-Based Risk Management Tools: A Survey

2021 ◽  
Vol 4 ◽  
Author(s):  
Branka Hadji Misheva ◽  
David Jaggi ◽  
Jan-Alexander Posth ◽  
Thomas Gramespacher ◽  
Joerg Osterrieder
Keyword(s):  
Artificial Intelligence ◽  
Risk Management ◽  
Financial Industry ◽  
Management Tools ◽  
Explainable Ai

Artificial Intelligence (AI) is one of the most sought-after innovations in the financial industry. However, with its growing popularity, there also is the call for AI-based models to be understandable and transparent. However, understandably explaining the inner mechanism of the algorithms and their interpretation is entirely audience-dependent. The established literature fails to match the increasing number of explainable AI (XAI) methods with the different stakeholders’ explainability needs. This study addresses this gap by exploring how various stakeholders within the Swiss financial industry view explainability in their respective contexts. Based on a series of interviews with practitioners within the financial industry, we provide an in-depth review and discussion of their view on the potential and limitation of current XAI techniques needed to address the different requirements for explanations.

Artificial Intelligence as an Enabling Tool for the Development of Dynamic Capabilities in the Banking Industry

2020 ◽  
Vol 16 (3) ◽  
pp. 20-33
Author(s):  
Cristina Gallego-Gomez ◽  
Carmen De-Pablos-Heredero
Keyword(s):  
Artificial Intelligence ◽  
Value Chain ◽  
Credit Card ◽  
Dynamic Capabilities ◽  
Business Models ◽  
Financial Industry ◽  
Resource Based View ◽  
Managerial Skills ◽  
International Banks ◽  
Speed Up

Banks are investing in artificial intelligence (AI) to develop more innovative business models in order to face competition. The main objective of this paper consists in analyzing bank experiences when they introduce AI from the theory of dynamic capabilities and the resource-based view approach. Documentary research enables the description of experiences in three companies from the financial industry. It has been considered of interest to include different international experiences. For that reason, a firm providing debit and credit card services has been included, MasterCard, along with international banks such as Royal Bank of Scotland and Caixa Bank. Results show that AI enables firms to promote new relationships with customers, detect their needs or experiences, and adapt the service given by firms to be more competitive. AI also allows them to speed up responses to customers answers and doubts through its value chain. This research also shows that the proper implementation of AI permits a reconfiguration of traditional banking scenario. Detection, absorption, integration, and innovation are capabilities that allow these firms to build the managerial skills oriented to save costs, increase efficiency, and be more competitive.

scholarly journals PECULIARITIES OF USING ARTIFICIAL INTELLIGENCE TECHNOLOGY BY SELF-REGULATED ORGANIZATIONS IN THE ACTIVITIES OF ENTREPRENEURIAL LAWS

2020 ◽  
pp. 68-75
Author(s):  
O. V. Sushkova
Keyword(s):  
Artificial Intelligence ◽  
Technology Implementation ◽  
Business Processes ◽  
Positive Function ◽  
Entrepreneurial Activity ◽  
Financial Industry ◽  
Consulting Services ◽  
Initial Stage ◽  
Artificial Intelligence Technology ◽  
Business Entities

Artificial intelligence technology (hereinafter — AI) is used in all areas of entrepreneurial activity. In the financial industry, marketing and marketing technology is used, the prevention of fraud and illegal actions, the assessment and verification of creditworthiness, chat bots, etc. e. A consultant robot can also apply technology if investment advisory provides large and necessary expenses. He has a positive function in this area that he is able to generate popular customers and create new customers and services. However, the technology of the robot consultant that uses AI is still at the initial stage of technology implementation, and currently there are legal, institutional and legal restrictions in providing comprehensive and specialized consulting services. Robot-oriented — advisory, basic issues, existing legal systems and security self-regulatory parameters should be identified and analyzed in order to provide basic provisions for the development of artificial intelligence technologies for business entities. Thus, the author increased the efficiency of business processes, and AI can destroy their integrity.

scholarly journals Some Thoughts on Innovation and Regulation of Financial Technology

2021 ◽  
Vol 13 ◽  
pp. 127-132
Author(s):  
Zhuoying Li
Keyword(s):  
Artificial Intelligence ◽  
Financial Markets ◽  
Information Technologies ◽  
Financial Regulation ◽  
Technology Development ◽  
Regulatory Agencies ◽  
Financial Risks ◽  
Innovative Development ◽  
Financial Industry ◽  
Financial Technology

The recent years witness innovative development of financial industry, which attributes to fast progress and in-depth application of information technologies such as big data, artificial intelligence, and blockchain. But, at the same time, they bring challenges to financial regulation and accelerate rise of regulatory technology. Based on challenges to regulatory agencies brought by financial technology development, this study proposes suggestions for the coordinated relationship between financial innovation and financial technology regulation from the perspective of technology empowerment, in order to improve efficiency of financial markets, and reach a balance between financial technology and prevention of systemic financial risks.

scholarly journals Curriculum Reform and Construction of Financial Engineering under the Background of Financial Technology

2020 ◽  
pp. 23-28
Author(s):  
Chen Zhu ◽  
Liping Chen
Keyword(s):  
Artificial Intelligence ◽  
Curriculum Reform ◽  
Financial Engineering ◽  
Retail Banking ◽  
Technological Innovations ◽  
Current Development ◽  
Financial Industry ◽  
Wealth Management ◽  
Loan Financing ◽  
Financial Technology

With technological innovations such as big data, cloud computing, artificial intelligence, and blockchain, it has been fully applied to payment and settlement, loan financing, wealth management, retail banking, insurance, transaction settlement, etc. In the big financial field, the integration of finance and technology is becoming a new trend in the future development of the financial industry. In the current development of financial technology, the training of financial engineering professionals is also facing many opportunities and challenges. The financial engineering major of our school started late. Although many achievements have been made, there are still some shortcomings. Especially with the development of financial technology, the original curriculum system needs to be adjusted and improved in time, so this article will proceed discuss the reform and construction of financial engineering courses.

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