Author : Elavalagan balasubramani, baskaran priyanka
Keyword : Ai, ml, finance
Subject : Banking and finance
Article Type : Review article
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Abstract : Machine Learning (ML) is a component of artificial intelligence that processes large data sets to detect patterns, generate predictions and recommendations, and improve effectiveness over time. The use cases of machine learning in finance are likely to evolve with the finance sector investing in AI and AI adding value to the services. As we move into the AI-powered digital age, machine learning has become one of the most vital needs for the financial sector. The profound amount of data generation in finance is also proving to be a valuable training environment for AI. There are several uses of machine learning in finance like risk modelling, algo trading, Portfolio Management and Robo-Advisors, fraud detection, financial chatbots, underwriting process, risk management, asset pricing prediction, derivative pricing, sentimental analysis, trade settlement. In the days to come, the financial industry will show increasingly more reliance on machine learning and artificial intelligence-based emerging methods and models to leverage competitive advantages.
Article by : Priyanka
Article add date : 2023-03-04
How to cite : Elavalagan balasubramani, baskaran priyanka. (2023-March-04). Machine learning in finance. retrieved from https://www.openacessjournal.com/abstract/1211