AI for financial services?

Question

What do you think of AI for financial services? If you worked at corporate or investment banking, their use of software is much more antiquated compared to tech companies or even retail companies.

They are restricted to Microsoft stack and will never leave Excel or Powerpoint. Yet the whole product is text-in-text-out which can be made 90% better with AI, IMO

Julie Campbell · Accepted Answer

In corporate and investment banking, the reliance on antiquated software, particularly the Microsoft stack, limits innovation. Despite the text-in-text-out nature, incorporating AI could improve efficiency. If you're exploring financial services, it's wise to check reviews, and here are alliance funding group customer service number and reviews. Using AI can streamline processes, improve analytics, and offer a competitive edge.

Maxio malin · Answer

I sincerely believe that artificial intelligence in financial services will have a positive impact. It's clear that there will be no more errors in financial calculations, and also total transparency in the financial management of institutions. In other words, a total absence of fraud. I often use an app to make my loans. It's called cash app borrow app. I don't know if it's artificial intelligence behind this program, but the application is impeccable. It works like a charm and allows me to make loans quickly and easily. You can also try it out, to better understand what I'm talking about.

Aamir Virani · Answer

Can you provide a little more detail?

Financial services is one of the places "AI" is used a lot.

Are you talking about making presentations or doing internal work?  If you can be more specific, it could help describe your market as something beyond "financial services"! 🤔

Mert Deveci · Answer

Sorry if this was not clear. I do not mean trading or fintech itself for financial management.

I mean text-in text-out jobs. Think of a investment banking associate.

All he does all day is basically 
1)research markets and public company financials
2) structure the data into tables and charts
3) understand and consume it 
4) comment on it
5) put it into a XLS or PPT
6) Send to managing director
7) Get comments

Back to beginning 🤭

Most of this could be made way more productive in financial services jobs like this which is also abundant in corporate banking, research institutes, brokerages and private funds.

If you are looking to hear an equivalent, it is Harvey.ai (Legal) but this would be for financials. What do you guys think?

Answer

This would be great! Some fintech startups are now adapting AI technologies.

Mert Deveci · Answer

@julie_campbell1 this is more of a B2C review site though, no? Context here is more B2B tooling

Emily Harris · Answer

AI in financial services enhances efficiency through automation, risk analysis, and personalized insights. It streamlines processes, providing quicker and more accurate decision-making. It's transforming the industry dynamically.

Mehmet Çetin · Answer

It may not be a good idea to underestimate Microsoft stack. They started to incorporate AI into their tools more and more. Even many HFT traders build their software with Microsoft products, such as Visual Studio and MV C++.

AI for financial services?

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