Artificial Intelligence And Business Transformation In Financial Services

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Digital Transformation of the Financial Industry

Slađana Benković,Aleksandra Labus,Miloš Milosavljević
Digital Transformation of the Financial Industry Book PDF

Author : Slađana Benković,Aleksandra Labus,Miloš Milosavljević
Publisher : Springer Nature
Page : 337 pages
File Size : 43,5 Mb
Release : 2023-01-29
Category : Business & Economics
ISBN : 9783031232695

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Digital Transformation of the Financial Industry by Slađana Benković,Aleksandra Labus,Miloš Milosavljević Pdf

This book presents a collection of state-of-the-art research findings on the digital transformation of financial services. Digitalization has fundamentally changed financial services and has a tendency to reshape the landscape of the financial industry in an unprecedented manner. Over the last ten years, the development of new financial technologies has contributed to the creation of new business and organizational models, along with new approaches to service delivery. By encompassing significant conceptual contributions, innovations in methods and techniques, and by delineating the main applications of digital transformation in Central and Eastern Europe (CEE), the volume extends current knowledge on digital transformation in the financial industry. The book is divided into two parts. The first part provides a social-science perspective on digital transformation in the financial industry. The second part provides the most recent evidence on how financial technologies are transforming financial services on the markets, and how the adoption of modern information technologies fosters setting up new financial services. Further, this part outlines new approaches to digital transformation in the financial industry. This book will appeal to students, scholars, and researchers of finance, monetary economics, and business, as well as practitioners interested in a better understanding of the digital transformation of financial services, new financial technologies, and innovations in finance.

Banking 5.0

Bernardo Nicoletti
Banking 5 0 Book PDF

Author : Bernardo Nicoletti
Publisher : Springer Nature
Page : 540 pages
File Size : 55,6 Mb
Release : 2021-07-06
Category : Business & Economics
ISBN : 9783030758714

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Banking 5.0 by Bernardo Nicoletti Pdf

Bill Gates’ quote, “Banking is necessary, but banks are not,” showcases the opportunity for financial services digital transformation. The next transition from industry 4.0 to 5.0 will impact all sectors, including banking. It will combine information technology and automation, based on artificial intelligence, person-robot collaboration, and sustainability. It is time to analyze this transformation in banking deeply, so that the sector can adequately change to the ‘New Normal’ and a wholly modified banking model can be properly embedded in the business. This book presents a conceptual model of banking 5.0, detailing its implementation in processes, platforms, people, and partnerships of financial services organizations companies. The last part of the book is then dedicated to future developments. Of interest to academics, researchers, and professionals in banking, financial technology, and financial services, this book also includes business cases in financial services.

Singularity Bank

Claudio Scardovi
Singularity Bank Book PDF

Author : Claudio Scardovi
Publisher : EGEA spa
Page : 394 pages
File Size : 48,6 Mb
Release : 2019-02-21T00:00:00+01:00
Category : Business & Economics
ISBN : 9788899902407

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Singularity Bank by Claudio Scardovi Pdf

Artificial intelligence is driving the next revolution in banking, with disruptive forces presenting profound challenges to traditional business models. As the adoption of new technologies, and innovation of even newer ones, accelerates, are we fast approaching a future in which banks no longer have a need for assets or, indeed, for humans? Is there a future in which bankers themselves, if not banks, disappear altogether? Are we approaching a “singularity moment,” in which advances in artificial intelligence trigger rapid and uncontrollable technological growth, leading to incalculable changes to society and, indeed, our very humanity? Would this empower us, or would it seize control of our very destiny? In practice, as it relates to banking, we may be facing not just a single, but multiple moments of singularity. This book examines the ways in which advances in artificial intelligence could become industrializable across each of the main value chains of the international banking system.

The Impact of Digital Transformation and FinTech on the Finance Professional

Volker Liermann,Claus Stegmann
The Impact of Digital Transformation and FinTech on the Finance Professional Book PDF

Author : Volker Liermann,Claus Stegmann
Publisher : Springer Nature
Page : 424 pages
File Size : 43,7 Mb
Release : 2019-10-02
Category : Business & Economics
ISBN : 9783030237196

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The Impact of Digital Transformation and FinTech on the Finance Professional by Volker Liermann,Claus Stegmann Pdf

This book demystifies the developments and defines the buzzwords in the wide open space of digitalization and finance, exploring the space of FinTech through the lens of the financial services professional and what they need to know to stay ahead. With chapters focusing on the customer interface, payments, smart contracts, workforce automation, robotics, crypto currencies and beyond, this book aims to be the go-to guide for professionals in financial services and banking on how to better understand the digitalization of their industry.​ The book provides an outlook of the impact digitalization will have in the daily work of a CFO/CRO and a structural influence to the financial management (including risk management) department of a bank.

Artificial Intelligence in Banking

Introbooks
Artificial Intelligence in Banking Book PDF

Author : Introbooks
Publisher : Unknown
Page : 50 pages
File Size : 51,9 Mb
Release : 2020-04-07
Category : Electronic
ISBN : 9798634736815

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Artificial Intelligence in Banking by Introbooks Pdf

In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, "In a world focused on using AI in new ways, we're focused on using it wisely and responsibly."

The Digital Journey of Banking and Insurance, Volume I

Volker Liermann,Claus Stegmann
The Digital Journey of Banking and Insurance Volume I Book PDF

Author : Volker Liermann,Claus Stegmann
Publisher : Springer Nature
Page : 349 pages
File Size : 53,5 Mb
Release : 2021-10-30
Category : Business & Economics
ISBN : 9783030788148

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The Digital Journey of Banking and Insurance, Volume I by Volker Liermann,Claus Stegmann Pdf

This book, one of three volumes, showcases the effective transformation of companies providing banking and insurance services. This first volume gives a business-oriented introduction to the setting and the current challenges of fintech, regtech, and insurtech and provides an outlook on what will be needed in the future. Specific sub-departments in financial services are examined with a view to accounting, risk, and regulatory segments. The book also addresses the importance of cultural aspects of the coming digital transformation with an eye to requirements that will enable a digital bank or insurance company to thrive in 2025. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between.

Applications of Artificial Intelligence in Business and Finance

Vikas Garg,Shalini Aggarwal,Pooja Tiwari,Prasenjit Chatterjee
Applications of Artificial Intelligence in Business and Finance Book PDF

Author : Vikas Garg,Shalini Aggarwal,Pooja Tiwari,Prasenjit Chatterjee
Publisher : CRC Press
Page : 272 pages
File Size : 40,9 Mb
Release : 2021-12-23
Category : Science
ISBN : 9781000290417

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Applications of Artificial Intelligence in Business and Finance by Vikas Garg,Shalini Aggarwal,Pooja Tiwari,Prasenjit Chatterjee Pdf

As transactions and other business functions move online and grow more popular every year, the finance and banking industries face increasingly complex data management and identity theft and fraud issues. AI can bring many financial and business functions to the next level, as systems using deep learning technologies are able to analyze patterns and spot suspicious behavior and potential fraud. In this volume, the focus is on the application of artificial intelligence in finance, business, and related areas. The book presents a selection of chapters presenting cutting-edge research on current business practices in finance and management. Topics cover the use of AI in e-commerce systems, financial services, fraud prevention, identifying loan-eligible customers, online business, Facebook social commerce, insurance industry, online marketing, and more.

Digital Finance and the Future of the Global Financial System

Lech Gąsiorkiewicz,Jan Monkiewicz
Digital Finance and the Future of the Global Financial System Book PDF

Author : Lech Gąsiorkiewicz,Jan Monkiewicz
Publisher : Taylor & Francis
Page : 195 pages
File Size : 47,8 Mb
Release : 2022-08-25
Category : Business & Economics
ISBN : 9781000630282

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Digital Finance and the Future of the Global Financial System by Lech Gąsiorkiewicz,Jan Monkiewicz Pdf

This book offers an in-depth analysis of the most salient features of contemporary financial systems and clarifies the major strategic issues facing the development of digital finance. It provides insight into how the digital finance system actually works in a socioeconomic context. It presents three key messages: that digital transformation will change the financial system entirely, that the State has a particularly important role to play in the whole process and that consumers will be offered more opportunities and freedom but simultaneously will be exposed to more risk and challenges. The book is divided into four parts. It begins by laying down the fundamentals of the subsequent analysis and offers a deep understanding of digital finance, including a topology of the key technologies applied in the transformation process. The next part reviews the challenges facing the digital State in the new reality, the digitalization of public finance and the development of digitally relevant taxation systems. In the third part, digital consumer aspects are discussed. The final part examines the risks and challenges of digital finance. The authors focus their attention on three key developments in financial markets: accelerated growth in terms of the importance of algorithms, replacing existing legal regulations; the expansion of cyber risk and its growing impact and finally the emergence of new dimensions of systemic risk as a side effect of financial digitalization. The authors supplement the analysis with a discussion of how these new risks and challenges are monitored and mitigated by financial supervision. The book is a useful, accessible guide to students and researchers of finance, finance and technology, regulations and compliance in finance.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

El Bachir Boukherouaa,Mr. Ghiath Shabsigh,Khaled AlAjmi,Jose Deodoro,Aquiles Farias,Ebru S Iskender,Mr. Alin T Mirestean,Rangachary Ravikumar
Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance Book PDF

Author : El Bachir Boukherouaa,Mr. Ghiath Shabsigh,Khaled AlAjmi,Jose Deodoro,Aquiles Farias,Ebru S Iskender,Mr. Alin T Mirestean,Rangachary Ravikumar
Publisher : International Monetary Fund
Page : 35 pages
File Size : 52,8 Mb
Release : 2021-10-22
Category : Business & Economics
ISBN : 9781589063952

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Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by El Bachir Boukherouaa,Mr. Ghiath Shabsigh,Khaled AlAjmi,Jose Deodoro,Aquiles Farias,Ebru S Iskender,Mr. Alin T Mirestean,Rangachary Ravikumar Pdf

This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Demystifying AI for the Enterprise

Prashant Natarajan,Bob Rogers,Edward Dixon,Jonas Christensen,Kirk Borne,Leland Wilkinson,Shantha Mohan
Demystifying AI for the Enterprise Book PDF

Author : Prashant Natarajan,Bob Rogers,Edward Dixon,Jonas Christensen,Kirk Borne,Leland Wilkinson,Shantha Mohan
Publisher : CRC Press
Page : 433 pages
File Size : 45,7 Mb
Release : 2021-12-30
Category : Computers
ISBN : 9781351032933

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Demystifying AI for the Enterprise by Prashant Natarajan,Bob Rogers,Edward Dixon,Jonas Christensen,Kirk Borne,Leland Wilkinson,Shantha Mohan Pdf

Artificial intelligence (AI) in its various forms –– machine learning, chatbots, robots, agents, etc. –– is increasingly being seen as a core component of enterprise business workflow and information management systems. The current promise and hype around AI are being driven by software vendors, academic research projects, and startups. However, we posit that the greatest promise and potential for AI lies in the enterprise with its applications touching all organizational facets. With increasing business process and workflow maturity, coupled with recent trends in cloud computing, datafication, IoT, cybersecurity, and advanced analytics, there is an understanding that the challenges of tomorrow cannot be solely addressed by today’s people, processes, and products. There is still considerable mystery, hype, and fear about AI in today’s world. A considerable amount of current discourse focuses on a dystopian future that could adversely affect humanity. Such opinions, with understandable fear of the unknown, don’t consider the history of human innovation, the current state of business and technology, or the primarily augmentative nature of tomorrow’s AI. This book demystifies AI for the enterprise. It takes readers from the basics (definitions, state-of-the-art, etc.) to a multi-industry journey, and concludes with expert advice on everything an organization must do to succeed. Along the way, we debunk myths, provide practical pointers, and include best practices with applicable vignettes. AI brings to enterprise the capabilities that promise new ways by which professionals can address both mundane and interesting challenges more efficiently, effectively, and collaboratively (with humans). The opportunity for tomorrow’s enterprise is to augment existing teams and resources with the power of AI in order to gain competitive advantage, discover new business models, establish or optimize new revenues, and achieve better customer and user satisfaction.

The Digital Journey of Banking and Insurance, Volume II

Volker Liermann,Claus Stegmann
The Digital Journey of Banking and Insurance Volume II Book PDF

Author : Volker Liermann,Claus Stegmann
Publisher : Springer Nature
Page : 362 pages
File Size : 41,5 Mb
Release : 2021-10-27
Category : Business & Economics
ISBN : 9783030788292

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The Digital Journey of Banking and Insurance, Volume II by Volker Liermann,Claus Stegmann Pdf

This book, the second one of three volumes, gives practical examples by a number of use cases showing how to take first steps in the digital journey of banks and insurance companies. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between. This second volume mainly emphasizes use cases as well as the methods and technologies applied to drive digital transformation (such as processes, leveraging computational power and machine learning models).

AI and the Future of Banking

Tony Boobier
AI and the Future of Banking Book PDF

Author : Tony Boobier
Publisher : John Wiley & Sons
Page : 304 pages
File Size : 41,5 Mb
Release : 2020-06-22
Category : Business & Economics
ISBN : 9781119596127

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AI and the Future of Banking by Tony Boobier Pdf

An industry-specific guide to the applications of Advanced Analytics and AI to the banking industry Artificial Intelligence (AI) technologies help organisations to get smarter and more effective over time – ultimately responding to, learning from and interacting with human voices. It is predicted that by 2025, half of all businesses will be using these intelligent, self-learning systems. Across its entire breadth and depth, the banking industry is at the forefront of investigating Advanced Analytics and AI technology for use in a broad range of applications, such as customer analytics and providing wealth advice for clients. AI and the Future of Banking provides new and established banking industry professionals with the essential information on the implications of data and analytics on their roles, responsibilities and personal career development. Unlike existing books on the subject which tend to be overly technical and complex, this accessible, reader-friendly guide is designed to be easily understood by any banking professional with limited or no IT background. Chapters focus on practical guidance on the use of analytics to improve operational effectiveness, customer retention and finance and risk management. Theory and published case studies are clearly explained, whilst considerations such as operating costs, regulation and market saturation are discussed in real-world context. Written by a recognised expert in AI and Advanced Analytics, this book: Explores the numerous applications for Advanced Analytics and AI in various areas of banking and finance Offers advice on the most effective ways to integrate AI into existing bank ecosystems Suggests alternative and complementary visions for the future of banking, addressing issues like branch transformation, new models of universal banking and ‘debranding’ Explains the concept of ‘Open Banking,’ which securely shares information without needing to reveal passwords Addresses the development of leadership relative to AI adoption in the banking industry AI and the Future of Banking is an informative and up-to-date resource for bank executives and managers, new entrants to the banking industry, financial technology and financial services practitioners and students in postgraduate finance and banking courses.

The Digital Journey of Banking and Insurance, Volume I

Volker Liermann,Claus Stegmann
The Digital Journey of Banking and Insurance Volume I Book PDF

Author : Volker Liermann,Claus Stegmann
Publisher : Unknown
Page : 0 pages
File Size : 54,8 Mb
Release : 2021
Category : Electronic
ISBN : 3030788156

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The Digital Journey of Banking and Insurance, Volume I by Volker Liermann,Claus Stegmann Pdf

This book, one of three volumes, showcases the effective transformation of companies providing banking and insurance services. This first volume gives a business-oriented introduction to the setting and the current challenges of fintech, regtech, and insurtech and provides an outlook on what will be needed in the future. Specific sub-departments in financial services are examined with a view to accounting, risk, and regulatory segments. The book also addresses the importance of cultural aspects of the coming digital transformation with an eye to requirements that will enable a digital bank or insurance company to thrive in 2025. The angle shifts over the volumes from a business-driven approach in "Disruption and DNA" to a strong technical focus in "Data Storage, Processing and Analysis", leaving "Digitalization and Machine Learning Applications" with the business and technical aspects in-between. Volker Liermann, Partner at ifb group, worked in the banking industry for over two decades, primarily focusing on financial risk management. Throughout his career, he has focused on developing integrated and comprehensive frameworks to help organizations correctly project risk at a strategic and tactical line of business and departmental level. He has also focused on developing frameworks to integrate stress testing and regulatory stress tests. In recent years, his focus has shifted to digitalization, machine learning and digital processes including improvements to classical financial and non-financial risk management. He has a background in economics and a degree in mathematics from the University of Bonn. Claus Stegmann has as Co-CEO of ifb group - an international consulting firm - acquired extensive know-how over the last three decades in the financial industry regarding finance transformation, risk management and regulatory compliance. He is intensively engaged with the current challenges of the financial industry, which result from strong changes to customer behavior, a changing competitive environment and new technologies due to digitalization. He has also co-authored books on Stress Tests in Banks, Basel III as well as Digitalization in the Finance Industry, and graduated from Business School at the University of Passau, Germany.

The AI Book

Ivana Bartoletti,Anne Leslie,Shân M. Millie
The AI Book Book PDF

Author : Ivana Bartoletti,Anne Leslie,Shân M. Millie
Publisher : John Wiley & Sons
Page : 782 pages
File Size : 44,5 Mb
Release : 2020-04-09
Category : Business & Economics
ISBN : 9781119551928

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The AI Book by Ivana Bartoletti,Anne Leslie,Shân M. Millie Pdf

Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important

Digital Transformation in Financial Services

Claudio Scardovi
Digital Transformation in Financial Services Book PDF

Author : Claudio Scardovi
Publisher : Springer
Page : 236 pages
File Size : 42,9 Mb
Release : 2017-09-04
Category : Business & Economics
ISBN : 9783319669458

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Digital Transformation in Financial Services by Claudio Scardovi Pdf

This book analyzes the set of forces driving the global financial system toward a period of radical transformation and explores the transformational challenges that lie ahead for global and regional or local banks and other financial intermediaries. It is explained how these challenges derive from the newly emerging post-crisis structure of the market and from shadow and digital players across all banking operations. Detailed attention is focused on the impacts of digitalization on the main functions of the financial system, and particularly the banking sector. The author elaborates how an alternative model of banking will enable banks to predict, understand, navigate, and change the external ecosystem in which they compete. The five critical components of this model are data and information mastering; effective use of applied analytics; interconnectivity and “junction playing”; development of new business solutions; and trust and credibility assurance. The analysis is supported by a number of informative case studies. The book will be of interest especially to top and middle managers and employees of banks and financial institutions but also to FinTech players and their advisers and others.