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)
Section 1: Quick Review of AI in the Finance Industry
Section 2: Machine Learning Algorithms and Hands-on Examples

How to come up with features and acquire the domain knowledge

In all the chapters so far, we have not explained where we get this domain knowledge from. A typical AI project requires us to slip into the shoes of finance professionals. Where to begin? The following is a list that will help you:

  • Textbook and training courses: The easiest path to follow is to follow how these professionals are trained. These courses contain the jargon, methodologies, and processes designed for the respective work type.
  • Research papers in banking and finance: When it comes to finding the right data, research in finance and banking can prove to be a very valuable resource. It will not only show where to get the data; it will also showcase those features with strong powers of prediction. However, I normally do not get lost in the inconsistency of features across authors and markets. I simply include them all as far as possible—with the support of theory by researchers...