Finance and Machine Learning are both very big fields with huge potential in both. Machine Learning in Finance can greatly improve Finance for the future and make Finance efficient.
Efficient trading
Investment banks and Hedge funds trade on a daily basis, and it’s crucial that these trades are efficient and profitable. AI and Machine learning can quickly make trade orders with price, quantity, timing, and much more. AI and Machine learning can also make decisions to trade completely on it’s own by predicting the market. HFT (High Frequency Trading) is used daily by companies to make trades very fast, but good use of AI and machine learning can improve on this, making hundreds of thousands of efficient and profitable trades.
Identifying Fraud
Fraud is a big problem in Finance, and it’s one that makes financial related companies lose billions of dollars each year. AI and Machine learning can quickly spot warning signs in fraudulent purchases and can quickly stop the fraudster. However, some legitimate purchases and labeled as fraud due to machine learning errors. However, machine learning and AI can fix this error again. Various AI and machine learning companies can detect fraudulent and non fraud purchases. They can detect a user’s identify and contact credit card companies and government agencies to verify a user.
Risk Management
Finance markets trade often, and they need to know current and future trends in the market. Machine Learning and AI can do this very fast and minimize risk for companies. It can detect major news that might disrupt the market even before it gets viral, so financial companies can quickly change their financial plan.
Machine Learning and AI can change many things in finance and can help financial companies to become much more efficient in their work. Machine Learning and AI can improve Finance for many years to come, making Finance efficient and safer
@TigerStars @CaptainTiger @MillionaireTiger
Link to Medium profile: https://medium.com/@sujit.bonthala
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