THE IMPACT OF ARTIFICIAL INTELLIGENCE IN THE FINANCE SECTOR AND ITS CHANCES
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F22%3A43966239" target="_blank" >RIV/49777513:23510/22:43966239 - isvavai.cz</a>
Výsledek na webu
<a href="https://drive.google.com/drive/folders/1YiIEeOEM17gb7_igFpaJ7200YxY8_WQe" target="_blank" >https://drive.google.com/drive/folders/1YiIEeOEM17gb7_igFpaJ7200YxY8_WQe</a>
DOI - Digital Object Identifier
—
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
THE IMPACT OF ARTIFICIAL INTELLIGENCE IN THE FINANCE SECTOR AND ITS CHANCES
Popis výsledku v původním jazyce
: Since Artificial Intelligence has entered almost all parts of the industry, the finance sector is highly influenced by Big Data and Artificial Intelligence. This paper explores the impact of Artificial Intelligence in the finance sector and its chances for the future. Those companies that regularly invest in Artificial Intelligence will likely have competitive advantages compared to their contestants. One significant impact of Artificial Intelligence is the topic of cost reduction and also the optimization of processes. To maximize their profitability, banks rely on the optimization of their capital. Artificial Intelligence algorithms can be applied to handle large quantities of data to increase mathematical calculations´ efficiency, accuracy, and speed. Banks also use AI algorithms for back-testing to assess the overall risk models. Regarding credit scoring, historically, most financial institutions based their credit ratings on the lender’s payment history. Increasingly, banks are looking towards additional data sources, including mobile phone activity and social media usage, to capture a more accurate creditworthiness assessment and improve loan profitability. Many developments might impact the future adoption of a broad range of AI and machine learning financial applications. This includes growing data repositories, data quality, increasing processing power, and new regulations and laws.
Název v anglickém jazyce
THE IMPACT OF ARTIFICIAL INTELLIGENCE IN THE FINANCE SECTOR AND ITS CHANCES
Popis výsledku anglicky
: Since Artificial Intelligence has entered almost all parts of the industry, the finance sector is highly influenced by Big Data and Artificial Intelligence. This paper explores the impact of Artificial Intelligence in the finance sector and its chances for the future. Those companies that regularly invest in Artificial Intelligence will likely have competitive advantages compared to their contestants. One significant impact of Artificial Intelligence is the topic of cost reduction and also the optimization of processes. To maximize their profitability, banks rely on the optimization of their capital. Artificial Intelligence algorithms can be applied to handle large quantities of data to increase mathematical calculations´ efficiency, accuracy, and speed. Banks also use AI algorithms for back-testing to assess the overall risk models. Regarding credit scoring, historically, most financial institutions based their credit ratings on the lender’s payment history. Increasingly, banks are looking towards additional data sources, including mobile phone activity and social media usage, to capture a more accurate creditworthiness assessment and improve loan profitability. Many developments might impact the future adoption of a broad range of AI and machine learning financial applications. This includes growing data repositories, data quality, increasing processing power, and new regulations and laws.
Klasifikace
Druh
O - Ostatní výsledky
CEP obor
—
OECD FORD obor
50204 - Business and management
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2022
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů