Spis treści
Preface viii
About the Editors xi
Acknowledgements xiii
1. AI: Need to Know
The Future of AI in Finance 6
What is AI and How to Make It Work for You 9
Getting to Day Zero: Let’s Get the Foundation Right 11
Navigating a Sea of Information, News and Opinion with Augmented Human Intelligence 14
The Seven Deadly Sins of AI 16
A New Internet, Data Banks and Digital World War 18
AI: A Cross Country Analysis of China versus the West 20
The AI Advantage: Near-Term Workforce Opportunities and Challenges 23
The Art of Involving Boards in Embracing AI 26
2. Deposits and Lending
AI in Lending 34
Financial Technology and China’s Inclusive Finance 39
The Future of Deposits and Lending 43
Applications of AI in Deposits and Lending 46
Showcase and Customer Service: Leveraging Chatbots in the Banking Industry 49
The Power of AI to Transform the Global SME Credit Landscape 52
Using AI for Credit Assessment in Underserved Segments 54
Why Video Games Might Help You Buy Your First House 56
AI Opportunities in the African Financial Sector: Use Cases 58
3. Insurance
Insurance and AI: Choices in Leadership, Purpose and Trust 65
Drifting into Algocratic Insurance? 71
Moving the AI Needle: Strategies for Health Insurers to Put AI into Practice 75
AI and Healthcare: Doctor Will Face Time You Now! 78
Using Artificial Intelligence in Commercial Underwriting to Drive Productivity Growth 81
The Digitally-Enabled Underwriter: How AI is Transforming Commercial Insurance Underwriting 83
Improving Policy Life Cycle Management with AI and Data Science 86
Disrupting the Insurance Value Chain 89
Cutting to the Chase: Mapping AI to the Real-World Insurance Value Chain 92
4. Payments
Artificial Intelligence: The Next Leap Forward in the Payments Revolution 102
Frictionless Payments: If or When? 105
Big Data, AI and Machine Learning: How to Unlock Their Potential in the New Payment Environment 108
The Rise of Conversational AI Platforms 111
Two Dimensional Virtual Vertical Integration: Solving the Impossible SC Problem 113
5. Investment and Wealth Management
The True Value of AI to Transform Push/Pull Wealth Management Offers 122
Machine Learning in Digital Wealth Management 125
The Impact of AI on Environmental, Social and Governance (ESG) Investing: Implications for the Investment Value Chain 129
AI in Indian Investment and Asset Management: Global Perspective 132
Finding Order in the Chaos: Investment Selection Using AI 134
Dispelling the Illusion 137
ETF 2.0: Mega Block Chains with AI 140
Fear and Greed 143
6. Capital Markets
Introduction on AI Approaches in Capital Markets 150
AI, Machine Learning and the Financial Service Industry: A Primer 157
Compliance as an Outcome 160
Alternative Data and Meta Quants: Making the Most of Artificial Intelligence for Visionaries in Capital Markets 163
AI and Capital Markets: Where to Now? 166
7. Trust, Transparency and Ethics
Trust in Fin Tech and AI: Some Introductory Reflections 172
Building Trust through Sound Governance 175
Independent AI Ethics Committees and ESG Corporate Reporting on AI as Emerging Corporate and AI
Governance Trends 180
The Wisdom Vantage 186
AI and Business Ethics in Financial Markets 188
AI Trust, Ethics, Transparency and Enablement 191
Invisible Hand, Spontaneous Order and Artificial Intelligence 195
Transforming Black Box AI in the Finance Industry: Explainable AI that is Intuitive and Prescriptive 197
Making Data Your Most Valuable Asset 200
The Data Promise 202
8. Legal Risk and Regulation
AI and the Law: Challenges and Risks for the Financial Services Sector 209
Algorithm Assurance 214
Regulation of AI within the Financial Services Sector 217
Is Risk-Based Regulation the Most Efficient Strategy to Rule the Unknown Risks Brought by Fin Tech? 220
The Changing Face of Regulatory, Compliance and Audit 223
Robocop on Wall Street 225
Sure, AI Can Answer Our Questions – But Who Will Answer Our Questions About AI? 229
Technology for Regulations and Compliance: Fit4Future! 232
9. The Future of AI in Finance
Welcome to the Future 238
An AI-Embedded Financial Future 242
Open Banking, Blockchain and AI: The Building Blocks for Web 3.0 245
Automated Machine Learning and Federated Learning 248
Deep Learning and Financial Regulation 251
AI for Development and Prosperity 254
The AI Trends That Will Shape Winning Businesses 257
Mastering the AI Talent Transformation: Present and Future 259
Humans versus Machines: Who Will Still Have a Job in 50 Years? 262
Is AI Ready for Morality? 265
Confessions of an AI Portfolio Manager 267
Appendix 270
List of Contributors 272
Index 283
