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

Applications of AI in banking

According to theMcKinsey Global Institute (, outof 13 industries, financial services ranked third in AI adoption, followed by the high-tech, telecommunications, and automotive and assembly industries.

As theMckinsey report does not mention the use case in banking, with a bit of research, perhaps we can take a look at the four ways in which AI creates values, as shown in the following list:

  • Project: Forecast and anticipate demand, improve sourcing, and reduce inventory (capital).
  • Produce: Provide services at a lower cost or higher quality.
  • Promote: Provide offers for the right price with the right message for the right customers at the right time.
  • Provide: Rich, personal, and...