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

The basic concepts of financial banking

Before we move full steam aheadinto anotherexample,we will first craft out our data, AI, and business techniques and knowledge. If you are familiar with all of these concepts, feel free to skip this section.

Financial knowledge is a good place to start to understand how our decisions in forecasting business activities impact financial decision-making in non-financial firms. Additionally, when predicting future activities using a machine learning model, we also learn how the finance industry can prepare for this future volume of business. What financing does to help with core business activities in non-financial firms is covered in the following section.

The functions of financial markets – spot and future pricing

Financial markets, such as exchanges, play the role of markets for products to be exchanged. For example, consider commodities such as natural gas—we can either buy it directly from sellers...