The potential of artificial intelligence in finance

Abstract

The world of finance is changing, with digitisation entering all areas of our lives, including finance. It is called fintech, or financial technology, which is now at the stage where we can start talking about the financial applications of artificial intelligence. Financial digitisation is wide-ranging, from core processes, through back- and front-office applications, all the way to the customer. We channel a lot of data into bigdata. The amount of data stored here on a daily basis can no longer be manually processed. This is where solutions such as automation, machine learning and ultimately artificial intelligence come in. In this paper, I will introduce the concept of fintech and its relation to the financial applications of artificial intelligence.