Abstract
Why did we write this book? We wanted to help financial experts and investors to understand the state-of-the-art of artificial intelligence and machine learning in finance. And so, what is artificial intelligence?
The foundations of artificial intelligence lie in the human desire to automate. Often this desire has had foundations in grand civilization-making visions or economic needs, such as the Antikythera mechanism, circa 200 BCE. Considered to be the oldest known example of an analog computer, it is believed that the mechanism automated the prediction of the positions of the sun, the moon, and the planets used to assist in navigation.
No matter the specific industry or application, AI has become a new engine of growth. Both finance and banking have been leveraging AI technologies and algorithms, applying them to automate routine tasks, procedures, forecasting, thereby improving overall customer experience.
The topics covered in this book make it an invaluable resource for academics, researchers, policy makers, and practitioners alike who want to understand how AI has affected the banking and financial industries and how it will continue to change them in the years to come.