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

Understanding data technologies

We are going to manage a large amount of data through the examples in this chapter. Due to this, it is critical to understand the underlying data technologies that we will use. These data technologies are related to storing varying types of data and information. There are two challenges related to information storage – first is the physical medium that we use to store the information, while the second is the format in which the information is stored.

Hadoop is one such solution that allows stored files to be physically distributed. This helps us to deal with various issues such as storing a large amount of data in one place, backup, recovery, and so on. In our case, we store the data on one computer as the size does not justify using this technology, but the following NoSQL databases could support this storage option. In Python, there is another file format called HDF5, which also supports distributed filesystems.

While NoSQL...