The Rise of AI in Financial Industry: What happens next?

Artificial Intelligence (AI) is being rapidly adopted for a wide range of applications in the financial services industry. Many applications or use cases of AI and machine learning already exist. The adoption of these applications has been driven by both supply factors, such as technological advances and the availability of financial sector data and infrastructure, and by demand factors, such as profitability needs, competition with other firms, and the demands of financial regulation. Some of the current and potential use cases of AI and machine learning include Financial institutions and vendors are using AI and machine learning methods to assess credit quality, to price and market insurance contracts, and to automate client interaction. Institutions are optimizing scarce capital with AI and machine learning techniques,trading stocks, and writing the corporate financial reporting.