8 books on AI for Financial Services [PDF]

November 04, 2024

These books explore AI solutions for the financial sector in areas such as fraud detection, risk assessment, algorithmic trading, customer service, and personal financial management.

1. Artificial Intelligence (AI) and Finance
2023 by Bahaaeddin A. M. Alareeni, Islam Elgedawy



"Artificial Intelligence (AI) and Finance" explores the transformative impact of AI on the financial sector, offering significant enhancements in efficiency, cost reduction and the speed and precision of decision-making processes. AI capabilities automate time-consuming and repetitive tasks in finance, such as analyzing vast datasets and market trends swiftly and accurately. This automation enables financial professionals to focus on higher-value activities like strategic decision-making, thereby improving overall productivity. The book also addresses AI's potential to lower operational costs by eliminating manual tasks, potentially leading to reduced fees and improved services for customers. Furthermore, AI technologies are leveraged to enhance security by detecting and mitigating fraudulent activities, while AI-powered chatbots and virtual assistants improve customer service efficiency. The book underscores the importance of responsible and ethical AI deployment in finance, making it an essential resource for academics, researchers, professionals and policymakers seeking to understand and harness AI's capabilities in the financial domain.
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2. Artificial Intelligence in Finance: Challenges, Opportunities and Regulatory Developments
2023 by Nydia Remolina, Aurelio Gurrea-Martinez



This book offers an extensive examination of the key hurdles, prospects and regulatory advancements linked to the integration of artificial intelligence (AI) in the financial industry. It demonstrates that although AI holds the potential to foster a more equitable and competitive financial ecosystem, its growing adoption may introduce specific risks and regulatory complexities that demand attention and resolution from regulators and policymakers.
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3. AI in the Financial Markets: New Algorithms and Solutions
2023 by Federico Cecconi



Can we envision the integration of AI technologies into financial markets to enhance their performance, not just in high-frequency trading or trend analysis, but also in terms of safety, stability and transparency? This book delves into these questions, emphasizing a practical approach tied to real-world applications. It caters to three primary audiences: (1) professionals in financial markets, including those in banking, insurance, portfolio management, brokerage, risk assessment, investment and debt management; (2) policymakers and regulators overseeing financial markets, ranging from government officials to legislators; and (3) individuals with an interest in technology, whether for personal or professional reasons, as well as those engaged in innovation and research across public and private sectors.
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4. Artificial Intelligence for All: Transforming Every Aspect of Our Life
2020 by Utpal Chakraborty



"Artificial Intelligence for All" offers a comprehensive exploration of AI's far-reaching applications across various industries and its potential impact on everyday life, with a specific focus on the Indian context and its industries and economy. It begins by examining the global race for AI dominance, highlighting its influence on mainstream politics and world leaders. Subsequent chapters delve into AI's role in sectors such as Banking and Finance, including applications like Financial Crime detection, Credit Risk Assessment, conversational banking powered by AI, Predictive Analytics and recommendations. The book also delves into the exciting realm of AI in Sports, appealing to both sports enthusiasts and professionals in the Sports and Computer Games fields. Furthermore, it places special emphasis on Conversational AI, exploring the utility of Virtual Assistants and ChatBots across various sectors.
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5. Artificial Intelligence in Financial Services and Banking Industry
2020 by Dr. V.V.L.N. Sastry



Over the past few years, the financial and banking sectors have seen a significant surge in the adoption of Artificial Intelligence (AI) technologies. AI and machine learning have been rapidly integrated into various applications, spanning front-end and back-end processes, as well as business and financial management operations. Consequently, it is imperative to assess the potential implications for financial stability arising from these advancements. Given the relative novelty of AI in this context and limited available data, any analysis must be considered preliminary. Current and prospective use cases of AI and machine learning in finance encompass a wide range of activities. These include optimizing capital allocation, model back-testing, market impact analysis for large trades, credit quality evaluation for insurance contracts and the automation of client interactions. Moreover, AI is being employed by brokers, hedge funds and other entities to identify opportunities for enhanced and uncorrelated returns, particularly in the optimization of trade execution. Additionally, both public and private institutions are utilizing these technologies for tasks such as data quality assessment, surveillance, regulatory compliance and fraud detection. This book endeavors to provide a comprehensive overview of AI's current utilization in the banking and financial sectors, shedding light on its global narrative and applications within the industry.
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6. The AI Book: The Artificial Intelligence Handbook for Investors, Entrepreneurs and FinTech Visionaries
2020 by Ivana Bartoletti, Anne Leslie, Shân M. Millie



Crafted by distinguished thought leaders in the global fintech sphere, "The AI Book" serves as a comprehensive compendium that demystifies the realm of artificial intelligence and its manifold applications within the financial services sector. This volume delves into the intricacies of key industry advancements, offering in-depth insights from trailblazing practitioners who provide invaluable firsthand knowledge and garnered wisdom. The content encompasses an array of vital subjects: from comprehending the AI Portfolio, spanning machine learning, chatbots and natural language processing (NLP), to delving into the Machine Intelligence Landscape and grasping core technologies. It navigates through the profound transformations in enterprises, industries and human experiences, while also exploring quantum computing and the emergence of next-generation AI. The book delves into AI experimentation and its integration into business models, altering the value proposition, organization structure, customer interactions and coworker engagements within today's Financial Services Industry. Furthermore, it scrutinizes the future landscape of financial services and capital markets, pondering the real-world implementation of AI technology. Notably, the book recognizes the proactive stance of end-users who are not waiting for the financial services sector to determine how AI can reshape their industry, enhance profitability and bolster competitiveness. It also addresses crucial boardroom challenges amplified by AI trends, spanning areas like conduct, regulation, oversight in an algorithm-driven environment, cybersecurity, diversity, data privacy, the evolving corporate structure, the future of work, social responsibility, sustainability and the evolving mandates of leadership. The book is meticulous in its exploration of ethical considerations surrounding AI deployment and underscores the significance of explainable AI within this context. · Ethical considerations of deploying Al solutions and why explainable Al is so important
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7. Blockchain, Artificial Intelligence and Financial Services: Implications and Applications for Finance and Accounting Professionals
2019 by Sean Stein Smith



The fusion of blockchain technology and artificial intelligence (AI) holds the promise of reshaping the interactions between the accounting and financial services sectors and their business, stakeholder and consumer ecosystems. This book offers a combination of technical insights and practical applications, equipping professionals with a roadmap for adopting and leveraging these emerging technologies within financial and accounting organizations. Presented in an approachable, unbiased and objective manner, the book dispenses with technical jargon and intricacies, replacing them with real-world case studies and examples.
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8. The Future of Finance: The Impact of FinTech, AI, and Crypto on Financial Services
2019 by Henri Arslanian, Fabrice Fischer



Co-authored by an engineer proficient in artificial intelligence and a lawyer with a background in banking, "The Future of Finance" offers a sneak peek into the forthcoming transformation of financial services and its repercussions on society at large. The initial segment of the book offers an in-depth yet easily digestible education in FinTech, artificial intelligence and cryptocurrencies, elucidating the prevailing pain points within the industry and the novel technological catalysts that have emerged. The latter portion delivers a pragmatic, succinct and engaging examination of the latest trends in these domains and their implications for the future of the financial services sector, replete with abundant use cases and real-world illustrations. This book is essential reading for finance professionals, students delving into the subject and anyone intrigued by the forthcoming shape of the financial landscape.
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