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Artificial intelligence and data analytics: Emerging opportunities and challenges in financial services
journal contribution
posted on 2020-01-27, 11:59 authored by Crispin CoombsCrispin Coombs, Raghav ChopraArtificial Intelligence (AI) systems are providing a new opportunity to financial services firms to develop distinctive capabilities to differentiate themselves from their peers. Key to this differentiation is the ability to execute business in the most effective and efficient manner and to take the smartest possible business decisions. AI systems can process large amounts of data with levels of accuracy and consistency that is not possible for humans to achieve, providing a route to more accurate predictions and data-driven analytical decision making. In this paper, we discuss the benefits of AI for improving data analytics and decision making, current and potential applications of AI within financial services, operational challenges and potential solutions for AI adoption, and conclude with requirements for successful adoption of AI systems.
History
School
- Business and Economics
Department
- Business
Published in
Journal of Financial TransformationVolume
50Pages
54 - 59Publisher
CAPCO InstituteVersion
- AM (Accepted Manuscript)
Rights holder
© The Capital Markets Company (UK) Limited.Publisher statement
This paper was accepted for publication in the journal Journal of Financial Transformation and the definitive published version is available at https://www.capco.com/Capco-Institute/Journal-50-Data-Analytics/AI-and-Data-Analytics-Emerging-Opportunities-and-Challenges-In-Financial-Services.Acceptance date
2019-11-01Publication date
2019-11-27Copyright date
2019ISSN
1755-361XeISSN
1755-3628Publisher version
Language
- en
Depositor
Dr Crispin Coombs. Deposit date: 24 January 2020Usage metrics
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