Artificial Intelligence & Machine Learning Role in Financial Services

2021 ◽  
Author(s):  
Prudhvi Parne
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Financial Services ◽  
Gold Mine ◽  
Short Period ◽  
The World ◽  
To Come ◽  
Financial Transactions ◽  
New Algorithms

Financial services are the economical backbone of any nation in the world. There are billions of financial transactions which are taking place and all this data is stored and can be considered as a gold mine of data for many different organizations. No human intelligence can dig in this amount of data to come up with something valuable. This is the reason financial organizations are employing artificial intelligence to come up with new algorithms which can change the way financial transactions are being carried out. Artificial Intelligence can complete the task in a very short period. Artificial intelligence can be used to detect frauds, identify possible attacks, and any other kind of anomalies that may be detrimental for the institution. This paper discusses the role of artificial intelligence and machine learning in the finance sector.

scholarly journals Digital Transformation of Financial Services using Artificial Intelligence, Machine Learning, and Cloud Computing

2021 ◽  
Vol 12 (06) ◽  
pp. 27-35
Author(s):  
Prudhvi Parne
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Cloud Computing ◽  
Financial Services ◽  
Banking Organization ◽  
Short Period ◽  
Improve Compliance ◽  
To Come ◽  
Financial Transactions ◽  
The Way

Digital disruption is redefining industries and changing the way business function. Artificial Intelligence is the future of banking as it brings the power of advanced data analytics to combat fraudulent transactions and improve compliance. Financial services are the economical backbone of any nation in the world. There are billions of financial transactions which are taking place and all this data is stored and can be considered as a gold mine of data for many different organizations. No human intelligence can dig in this amount of data to come up with something valuable. This is the reason financial organizations are employing artificial intelligence to come up with new algorithms which can change the way financial transactions are being carried out. Artificial Intelligence can complete the task in a very short period. Artificial intelligence can be used to detect frauds, identify possible attacks, and any other kind of anomalies that may be detrimental for the institution. This paper discusses the role of artificial intelligence and machine learning in the finance sector. Additionally, the paper will provide the necessary strategies that any banking organization can follow when digitizing its operations when implementing Artificial Intelligence, Machine learning and Cloud Computing.

scholarly journals Transformation of Drug Discovery towards Artificial Intelligence: An in Silico Approach

2021 ◽  
Author(s):  
Ruby Srivastava
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Drug Discovery ◽  
In Silico ◽  
Drug Repurposing ◽  
Machine Learning Techniques ◽  
Learning Techniques ◽  
Modern Drug ◽  
Short Period

Computational methods play a key role in the design of therapeutically important molecules for modern drug development. With these “in silico” approaches, machines are learning and offering solutions to some of the most complex drug related problems and has well positioned them as a next frontier for potential breakthrough in drug discovery. Machine learning (ML) methods are used to predict compounds with pharmacological activity, specific pharmacodynamic and ADMET (absorption, distribution, metabolism, excretion and toxicity) properties to evaluate the drugs and their various applications. Modern artificial intelligence (AI) has the capacity to significantly enhance the role of computational methodology in drug discovery. Use of AI in drug discovery and development, drug repurposing, improving pharmaceutical productivity, and clinical trials will certainly reduce the human workload as well as achieving targets in a short period of time. This chapter elaborates the crosstalk between the machine learning techniques, computational tools and the future of AI in the pharmaceutical industry.

How New Age Technologies Are Used to Identify Consumer Behaviour and Its Change During and After a Pandemic

2022 ◽  
pp. 279-290
Author(s):  
Ravi Sanwal
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Focus Group ◽  
Internet Of Things ◽  
Online Shopping ◽  
New Age ◽  
Marketing Strategies ◽  
The World ◽  
Different Parts

In 2020, the whole world experienced a pandemic that rose in different parts of the world leading to a pandemic; many businesses were affected because of it, and it changed people's thinking towards life. It also changed how consumers looked at purchasing products online. This study focuses mainly on how the new age technologies like machine learning, internet of things, and artificial intelligence helps in identifying the consumer buying patterns. Consumer buying pattern on online shopping have changed over a period during this pandemic. This research highlights the role of these technologies in marketing and how it has helped the companies to create their marketing strategies. This research also includes the study of change in buying patterns of consumers during the pandemic and how it has increased over a period of time through primary research done with 30 respondents taken as a focus group.

scholarly journals The Role of Artificial Intelligence in Fighting the COVID-19 Pandemic

2021 ◽  
Author(s):  
Francesco Piccialli ◽  
Vincenzo Schiano di Cola ◽  
Fabio Giampaolo ◽  
Salvatore Cuomo
Keyword(s):  
Artificial Intelligence ◽  
Clinical Trials ◽  
Digital Transformation ◽  
Daily Activities ◽  
Commercial Vehicles ◽  
Human Skills ◽  
To Come ◽  
Complex Scenario ◽  
The Impact

AbstractThe first few months of 2020 have profoundly changed the way we live our lives and carry out our daily activities. Although the widespread use of futuristic robotaxis and self-driving commercial vehicles has not yet become a reality, the COVID-19 pandemic has dramatically accelerated the adoption of Artificial Intelligence (AI) in different fields. We have witnessed the equivalent of two years of digital transformation compressed into just a few months. Whether it is in tracing epidemiological peaks or in transacting contactless payments, the impact of these developments has been almost immediate, and a window has opened up on what is to come. Here we analyze and discuss how AI can support us in facing the ongoing pandemic. Despite the numerous and undeniable contributions of AI, clinical trials and human skills are still required. Even if different strategies have been developed in different states worldwide, the fight against the pandemic seems to have found everywhere a valuable ally in AI, a global and open-source tool capable of providing assistance in this health emergency. A careful AI application would enable us to operate within this complex scenario involving healthcare, society and research.

scholarly journals HOW INDUSTRY 4.0 RESHAPES THE WORLD: RECOMMENDATIONS BASED ON COMPLEX GRAPH NETWORK ANALYSIS

2021 ◽  
Vol 1 ◽  
pp. 1755-1764
Author(s):  
Rongyan Zhou ◽  
Julie Stal-Le Cardinal
Keyword(s):  
Machine Learning ◽  
Industry 4.0 ◽  
Network Models ◽  
Global Supply Chain ◽  
Great Opportunity ◽  
Strategic Research ◽  
Complex Graph ◽  
The World ◽  
Tremendous Challenge

Abstract Industry 4.0 is a great opportunity and a tremendous challenge for every role of society. Our study combines complex network and qualitative methods to analyze the Industry 4.0 macroeconomic issues and global supply chain, which enriches the qualitative analysis and machine learning in macroscopic and strategic research. Unsupervised complex graph network models are used to explore how industry 4.0 reshapes the world. Based on the in-degree and out-degree of the weighted and unweighted edges of each node, combined with the grouping results based on unsupervised learning, our study shows that the cooperation groups of Industry 4.0 are different from the previous traditional alliances. Macroeconomics issues also are studied. Finally, strong cohesive groups and recommendations for businessmen and policymakers are proposed.

scholarly journals Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Pen Social Innovation of the Islamic Financial System

2021 ◽  
Vol 7 (2) ◽  
pp. 136
Author(s):  
Mustafa Raza Rabbani ◽  
Abu Bashar ◽  
Nishad Nawaz ◽  
Sitara Karim ◽  
Mahmood Asad Mohd. Ali ◽  
...  
Keyword(s):  
Financial Services ◽  
Open Innovation ◽  
Financial Stability ◽  
Social Innovation ◽  
Global Financial Crisis ◽  
Financial System ◽  
Real Economy ◽  
Business Context ◽  
The World

The purpose of the current study is to investigate the role of the Islamic financial system in recovery post-COVID-19 and the way Fintech can be utilized to combat the economic reverberations created by COVID-19. The global financial crisis of 2008 has established the credentials of the Islamic financial system as a sustainable financial system which can save the long run interests of the average citizens around the world while adding value to the real economy. The basic ethical tenets available in the Islamic financial system make it more suited and readymade to fight the economic aftershocks of a pandemic like COVID-19. The basic principles of ethical Islamic finance have solid connections to financial stability and corporate social responsibility within the wide-reaching business context. With the emergence of Financial technology (Fintech) it has provided a missing impetus to the Islamic financial system to compete on equal ground with its conventional counterpart and prove its mettle. The study uses discourse analysis along with the content analysis to extract content and draw a conclusion. The findings of the study indicate that COVID-19 pandemic has provided the opportunity for the social and open innovation to grow and finance world have turned to open innovation to provide a speedy, timely, reliable, and sustainable solution to the world. The findings of the study provide significant implications for governments and policy makers in efficient application of Fintech and innovative Islamic financial services to fight the economic consequences of the COVID-19 pandemic.

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