The entire tech world is debating the consequences of artificial intelligence and the part AI is going to play in shaping our future. According to a Gartner survey, 27% of financial departments expect to deploy some form of artificial intelligence or machine learning and half of the respondents — predictive analytics by 2020. Application of Artificial Intelligence in Finance Artificial intelligence has become a real game changer in the world of finance. It's already here. It follows that AI would find its way into the business intelligence world. Artificial intelligence isn't coming. Following companies use IoT in their finance applications and have been quite successful in doding. Artificial intelligence has been around for a while, but recently it is taking on a life of its own, invading various segments of business, including finance. by Admin February 6, 2020 June 15, 2020 0 203. While we might think that artificial intelligence is at least a few years away from causing any considerable effects on our lives, the fact remains that it is already having an enormous impact on us. Artificial intelligence (AI) technology has transformed the consumer financial services market and how consumers interact with the financial services ecosystem. Alexa, Siri, Cortana, and Google Assistant are just some of the most notable examples of artificial intelligence we’re all familiar with. Early investments by large firms, including several of the Big Four, have paid off with advanced technology that can, among other things, slash the amount of time accountants spend on complex audits and asset estimates. It has great potential for positive impact if companies deploy it with sufficient diligence, prudence, and care. As of now, numerous companies claim to assist business leaders in the finance domain, specifically, in aspects of their roles using AI. Traders, wealth managers, insurers, and bankers are likely well aware of this in some form. An AI system can examine millions and billions of data points, and find patterns and trends that people may miss, and even predict future patterns. A cost-effective, high ROI approach to train AI models for finance. Cognitive computing , Chatbots , Personal Assistant, Machine Learning are all peripherals of AI used in the finance industry extensively nowadays. ... 7 Examples Of Artificial Intelligence In Finance. Appen provides customizable options across data types, languages and security demands for the financial services industry. However, it is the finance industry which is claimed to have benefitted the most with the help of Artificial Intelligence. As such, the applications of artificial intelligence and machine learning in finance are myriad. In our previous report, we covered 6 use-cases for AI in business intelligence. 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