Development of Financial Forecasting Tools

Abstract

Technology has disrupted business processes. The financial sector cannot remain isolated from the technological disruption. Financial forecasting has attracted the attention of researchers attempting to explore technology driven forecasting. This chapter explores the development of financial forecasting tools. Artificial intelligence has gained prominence in financial forecasting and other domains of investment management. Machine learning offers immense potential for enhancing the efficiency of investment management. Fusion of the best models is required to explore new approaches. Instead of relying on a single model, a hybrid model approach needs to be explored to incorporate the benefits of the best models.