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Uses of AI in Finance in 2020
AI is becoming increasingly important to the finance industry. Over the past several years, companies in the financial sphere have been integrating AI into their businesses in exciting and innovative ways. Below are just a few examples of how some companies are utilizing AI to improve processes, products, services,... Read more
Validating AI & Machine Learning Models—Lessons Learned from the Banking Industry
Sectors that deal with sensitive data are very familiar with compliance standards that require transparency. If you request a loan, the company is required to disclose the reasoning behind your denial or approval. Other regulations, such as the recent GDPR amendment, require companies to disclose how they will use... Read more
How Data Science is Transforming Financial Systems
Data science has continued to develop at a rapid and given birth to a whole new age of machine learning. Financial tasks have started to see their roles reprised within the business world as more companies move forward with this innovative technology. Businesses are reshaping their strategies to incorporate... Read more
What Finance Companies are Excelling in AI?
Many finance companies are getting some massive help from AI handling things like security, loss prevention, and predictive decision making—think underwriting for mortgages or credit decisions. While AI is making the rounds for many companies and organizations, a few are taking that... Read more
A Fiscal State of the Union with Visual Storytelling
Visualizing the FY2021 US Government Budget and Current Financial State Have you ever wondered where your tax dollars go? How the government makes money? Recently, President Trump released the FY2021 government budget. Politics takes over as Democrats jump on the massive spending and defense budget as irresponsible and unsustainable... Read more
Unit Cost Metrics for Customer Churn
Carl is a speaker for ODSC East this April 13-17! Be sure to check out his talk, “Fighting Customer Churn With Data,” there! In this post I’m going to highlight one of the key takeaways from the session I’m planning for ODSC East in April: To understand and reduce... Read more
Transaction Data Enrichment, an Opportunity for Financial Wellness
Editor’s Note: See Pramod’s talk “Transaction Data Enrichment and Alternative Data: An Opportunity for Business Growth and Risk Mitigation” at ODSC West 2019.  In a recent financial wellness survey of American adults, 58% of respondents said they did not have the financial freedom to enjoy life. 48% said they... Read more
How AI will Disrupt the Financial Sector
Artificial intelligence thrives with data. The more data you have, the better your algorithms will be. However, just having a lot of data is not sufficient anymore. You also need high-quality data, or in the words of Peter Norvig, you need better data: “We don’t have better algorithms, we... Read more
Financial Data Modeling with RAPIDS.
A financial dataset is challenging in many ways. The data is usually anonymized to protect customers’ privacies. Sometimes even the column name of the tabular data is encoded, which can prevent feature engineering using domain knowledge. As required by financial regulation and laws, oftentimes the models must be interpretable, like logistic... Read more
How Exactly AI and Data Science Can Replace a Human in the Financial Sphere
When talking about Artificial Intelligence, most people immediately imagine armies of robots, which will definitely revolt against humanity. Yes, we are all influenced by science fiction and movies, but we should separate myths from reality. Step-by-step AI is changing the world. Is it bad or good? Should we worry... Read more