Beat the machine: Can artificial intelligence benefit the industry?

Can artificial intelligence benefit the industry?

Believe it or not, financial services has historically been the sector quickest to adopt artificial intelligence (AI).

Although finance and AI seem unlikely bedfellows, in reality, measures such as fraud detection, data encryption, and automated voice software – which are commonplace in finance and rarely found elsewhere – are borne out of advances in artificial intelligence. This nugget was given to an audience at this year’s Fund Management Summit by Anish Mohammed, an adviser at San Francisco-based tech start-up Ripple Labs. He also shared the news that, according to futurologists, machines are expected to be smarter than humans somewhere around 2035. This prediction is part of the ‘singularity hypoth...