Book Image

Hands-On Artificial Intelligence for Banking

By : Jeffrey Ng, Subhash Shah
Book Image

Hands-On Artificial Intelligence for Banking

By: Jeffrey Ng, Subhash Shah

Overview of this book

Remodeling your outlook on banking begins with keeping up to date with the latest and most effective approaches, such as artificial intelligence (AI). Hands-On Artificial Intelligence for Banking is a practical guide that will help you advance in your career in the banking domain. The book will demonstrate AI implementation to make your banking services smoother, more cost-efficient, and accessible to clients, focusing on both the client- and server-side uses of AI. You’ll begin by understanding the importance of artificial intelligence, while also gaining insights into the recent AI revolution in the banking industry. Next, you’ll get hands-on machine learning experience, exploring how to use time series analysis and reinforcement learning to automate client procurements and banking and finance decisions. After this, you’ll progress to learning about mechanizing capital market decisions, using automated portfolio management systems and predicting the future of investment banking. In addition to this, you’ll explore concepts such as building personal wealth advisors and mass customization of client lifetime wealth. Finally, you’ll get to grips with some real-world AI considerations in the field of banking. By the end of this book, you’ll be equipped with the skills you need to navigate the finance domain by leveraging the power of AI.
Table of Contents (14 chapters)
1
Section 1: Quick Review of AI in the Finance Industry
3
Section 2: Machine Learning Algorithms and Hands-on Examples

Knowledge management using NLP and graphs

Essentially, there are two ways for us to retrieve and update knowledge about our real world. One is to store the knowledge in vector space and read the file to our memory during runtime using programs such as Word2Vector and BERT. Another approach is to load the knowledge into a graph database, such as Neo4j, and retrieve and query the data. The strength and weakness of both approaches lies in speed and transparency. For high-speed subject classification, in-memory models fare better, but for tasks that require transparency, such as banking decisions, the updating of data requires full transparency and permanent record keeping. In these cases, we will use a graph database. However, like the example we briefly covered in Chapter 7, Sensing Market Sentiment for Algorithmic Marketing at Sell Side, NLP is required to extract information from the document before we can store the information in graph format.

Practical implementation...