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.

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 Explainable AI: A Review of Machine Learning Interpretability Methods

Entropy ◽  
2020 ◽  
Vol 23 (1) ◽  
pp. 18
Author(s):  
Pantelis Linardatos ◽  
Vasilis Papastefanopoulos ◽  
Sotiris Kotsiantis
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Black Box ◽  
Learning Systems ◽  
Model Complexity ◽  
Learning Models ◽  
New Methods ◽  
Industrial Adoption ◽  
Machine Learning Models ◽  
The Way

Recent advances in artificial intelligence (AI) have led to its widespread industrial adoption, with machine learning systems demonstrating superhuman performance in a significant number of tasks. However, this surge in performance, has often been achieved through increased model complexity, turning such systems into “black box” approaches and causing uncertainty regarding the way they operate and, ultimately, the way that they come to decisions. This ambiguity has made it problematic for machine learning systems to be adopted in sensitive yet critical domains, where their value could be immense, such as healthcare. As a result, scientific interest in the field of Explainable Artificial Intelligence (XAI), a field that is concerned with the development of new methods that explain and interpret machine learning models, has been tremendously reignited over recent years. This study focuses on machine learning interpretability methods; more specifically, a literature review and taxonomy of these methods are presented, as well as links to their programming implementations, in the hope that this survey would serve as a reference point for both theorists and practitioners.

scholarly journals Early Adopters to Early Majority - What's Driving the Artificial Intelligence and Machine Learning Powered Transformation in Financial Services?

2021 ◽  
Vol 12 (4) ◽  
pp. 43
Author(s):  
Srikrishna Chintalapati
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Portfolio Management ◽  
Value Chain ◽  
Financial Services ◽  
Retail Banking ◽  
Early Adopters ◽  
Customer Life Cycle ◽  
Digital Disruption ◽  
The Impact

From retail banking to corporate banking, from property and casualty to personal lines, and from portfolio management to trade processing, the next wave of digital disruption in financial services has been unleashed by the concepts and applications of Artificial Intelligence (AI) and Machine Learning (ML). Together, AI and ML are undoubtedly creating one of the largest technological transformations the world has ever witnessed. Within the advanced streams of research in AI and ML, human intelligence blended with the cognitive reasoning of machines is finally out of the labs and into real-time applications. The Financial Services sector is one of the early adopters of this revolution and arguably much ahead of its leverage compared to other sectors. Built on the conceptual foundations of Innovation diffusion, and a contemporary perspective of enterprise customer life-cycle journey across the AI-value chain defined by McKinsey Global Institute (2017), the current study attempts to highlight the features and use-cases of early-adopters of this transformation. With the theoretical underpinning of technology adoption lifecycle, this paper is an earnest attempt to comment on how AI and ML have been significantly transforming the Financial Services market space from the lens of a domain practitioner. The findings of this study would be of particular relevance to the subject matter experts, Industry analysts, academicians, and researchers focussed on studying the impact of AI and ML in the financial services industry.

scholarly journals Software Testing: Issues and Challenges of Artificial Intelligence & Machine Learning

2021 ◽  
Vol 12 (1) ◽  
pp. 101-112
Author(s):  
Kishore Sugali ◽  
Chris Sprunger ◽  
Venkata N Inukollu
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Software Testing ◽  
Future Research ◽  
Critical Component ◽  
Development Methodology ◽  
Testing Strategies ◽  
History Of ◽  
Shed Light ◽  
The Way

The history of Artificial Intelligence and Machine Learning dates back to 1950’s. In recent years, there has been an increase in popularity for applications that implement AI and ML technology. As with traditional development, software testing is a critical component of an efficient AI/ML application. However, the approach to development methodology used in AI/ML varies significantly from traditional development. Owing to these variations, numerous software testing challenges occur. This paper aims to recognize and to explain some of the biggest challenges that software testers face in dealing with AI/ML applications. For future research, this study has key implications. Each of the challenges outlined in this paper is ideal for further investigation and has great potential to shed light on the way to more productive software testing strategies and methodologies that can be applied to AI/ML applications.

scholarly journals IMPROVING INTERNET OF THINGS PARKING SYSTEMS

2021 ◽  
Vol 19 (3) ◽  
pp. 163
Author(s):  
Dušan Bogićević
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Cloud Computing ◽  
Internet Of Things ◽  
Information Needs ◽  
Vehicle Classification ◽  
The Internet ◽  
Parking Space ◽  
Automated Systems ◽  
The Internet Of Things

Edge data processing represents the new evolution of the Internet and Cloud computing. Its application to the Internet of Things (IoT) is a step towards faster processing of information from sensors for better performance. In automated systems, we have a large number of sensors, whose information needs to be processed in the shortest possible time and acted upon. The paper describes the possibility of applying Artificial Intelligence on Edge devices using the example of finding a parking space for a vehicle, and directing it based on the segment the vehicle belongs to. Algorithm of Machine Learning is used for vehicle classification, which is based on vehicle dimensions.

scholarly journals The Pros & Cons of Business Innovation at IT Organizations

2019 ◽  
Vol 7 (1) ◽  
pp. 82-85
Author(s):  
Geetha Swaminathan
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Information Technology ◽  
Cloud Computing ◽  
New Technologies ◽  
Global Market ◽  
Innovative Product ◽  
Business Innovation ◽  
It Organization ◽  
Pros And Cons

In the 21st Century, the buzzword is often used in all fields is “Innovation". It is no wonder using Innovation in day to the conversation as well as striving for innovation execution at organisations in Information Technology (IT) sectors. When we need to talk about innovation in IT sectors in the fast-moving technology IT organisations, they are in a position in increasing its capability in its innovative product and services. There is a lot of benefits out of business innovations that are being reaped in IT companies; there are apparent disadvantages are also the outcome of them. It is quite common, despite all benefits and drawbacks, they are in apposition to survive in the global market. That becomes a great challenge to all IT organisations. In IT organisations which consist of departments such as Development, Testing, Consulting, Networking, Infrastructure, Process and having common platforms and legacy languages, Apart from that they are in the way of invading new technologies such as Digital, Mobile, IoT, Artificial Intelligence, Machine learning Cloud computing. In all the fields, as mentioned above and area, they need to do innovation to sustain their business. This paper will provide elaborate results on Pros and Cons of Business Innovation in IT Organization.

Artificially Intelligent Physiotherapy

2021 ◽  
Vol 10 (1) ◽  
pp. 77-88
Author(s):  
Sachin Pandurang Godse ◽  
Shalini Singh ◽  
Sonal Khule ◽  
Shubham Chandrakant Wakhare ◽  
Vedant Yadav
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Range Of Motion ◽  
Real Time ◽  
Severe Pain ◽  
User Performance ◽  
Computer Aided ◽  
To Come ◽  
And Performance ◽  
At Home

Physiotherapy is the trending medication for curing bone-related injuries and pain. In many cases, due to sudden jerks or accidents, the patient might suffer from severe pain. Therefore, it is the miracle medication for curing patients. The aim here is to build a framework using artificial intelligence and machine learning for providing patients with a digitalized system for physiotherapy. Even though various computer-aided assessment of physiotherapy rehabilitation exist, recent approaches for computer-aided monitoring and performance lack versatility and robustness. In the authors' approach is to come up with proposition of an application which will record patient physiotherapy exercises and also provide personalized advice based on user performance for refinement of therapy. By using OpenPose Library, the system will detect angle between the joints, and depending upon the range of motion, it will guide patients in accomplishing physiotherapy at home. It will also suggest to patients different physio-exercises. With the help of OpenPose, it is possible to render patient images or real-time video.

FinTech Adoption in China

2021 ◽  
pp. 166-173
Author(s):  
Gagan Kukreja
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Deep Learning ◽  
Financial Services ◽  
New Technologies ◽  
Large Population ◽  
Financial Inclusion ◽  
High Penetration ◽  
Digital Payments ◽  
Almost All

Almost all financial services (especially digital payments) in China are affected by new innovations and technologies. New technologies such as blockchain, artificial intelligence, machine learning, deep learning, and data analytics have immensely influenced all most all aspects of financial services such as deposits, transactions, billings, remittances, credits (B2B and P2P), underwriting, insurance, and so on. Fintech companies are enabling larger financial inclusion, changing in lifestyle and expenditure behavior, better and fast financial services, and lots more. This chapter covers the development, opportunities, and challenges of financial sectors because of new technologies in China. This chapter throws the light on opportunities that emerged because of the large population of 1.4 billion people, high penetration, and access to the latest and affordable technology, affordable cost of smartphones, and government policies and regulations. Lastly, this chapter portrays the untapped potentials of Fintech in China.

Artificial Intelligence, Machine Learning, Automation, Robotics, Future of Work and Future of Humanity

2019 ◽  
Vol 30 (1) ◽  
pp. 61-79 ◽  
Author(s):  
Weiyu Wang ◽  
Keng Siau
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Industrial Revolution ◽  
Future Research ◽  
Way Of Life ◽  
Negative Effects ◽  
Future Research Directions ◽  
Negative Impacts ◽  
The Impact ◽  
The Way

The exponential advancement in artificial intelligence (AI), machine learning, robotics, and automation are rapidly transforming industries and societies across the world. The way we work, the way we live, and the way we interact with others are expected to be transformed at a speed and scale beyond anything we have observed in human history. This new industrial revolution is expected, on one hand, to enhance and improve our lives and societies. On the other hand, it has the potential to cause major upheavals in our way of life and our societal norms. The window of opportunity to understand the impact of these technologies and to preempt their negative effects is closing rapidly. Humanity needs to be proactive, rather than reactive, in managing this new industrial revolution. This article looks at the promises, challenges, and future research directions of these transformative technologies. Not only are the technological aspects investigated, but behavioral, societal, policy, and governance issues are reviewed as well. This research contributes to the ongoing discussions and debates about AI, automation, machine learning, and robotics. It is hoped that this article will heighten awareness of the importance of understanding these disruptive technologies as a basis for formulating policies and regulations that can maximize the benefits of these advancements for humanity and, at the same time, curtail potential dangers and negative impacts.

Sign in / Sign up

Export Citation Format

Share Document