9 examples of artificial intelligence in finance

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9 ways AI is transforming finance: Fraud detection, customer service, algorithmic trading, and more! The future of finance is here.

By examining elements like market volatility, credit risk, and liquidity risk, the platform assists investment managers in monitoring and managing risks. Investment managers may enhance their investment strategies and make data-driven decisions thanks to Aladdin’s risk management capabilities, which lower the risk of losses and boost returns.

To create customized investment portfolios for clients based on their goals, risk tolerance, and financial position, Wealthfront combines classic portfolio theory and AI. As market conditions and the client’s goals change, the platform automatically rebalances the portfolio while continuously monitoring its performance. Many investors find Wealthfront an appealing alternative because of its AI-powered portfolio management, which enables customized and optimal investing plans.

The financial arena is an excellent fit for chatbots and other AI applications. One example: Bank of America’s Erica, a chatbot that provides customer service online by responding to basic inquiries.

 

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