Title page
Contents
Summary 2
Introduction 4
Technology Overview in Brief 5
What Are Artificial Intelligence and Machine Learning? 5
Recent Advances in Data and Technology 5
Big Data 6
Finance and Artificial Intelligence 7
AI/ML Applications in Finance 8
Credit Underwriting 9
Chatbots 10
Regtech 10
Monitoring Fraud and Illicit Financial Activity 11
Capital Markets Applications 11
Sentiment Analysis 12
Asset Management 13
Trading Applications 14
AI-as-a-Service 15
Policy Issues Regarding the Role of AI/ML in Finance 16
Legislative and Regulatory Considerations 16
AI/ML Model Bias 17
Explainability 18
Data-Related Policy Issues 19
Concentration Risk and Systemic Risk Concerns 20
Herding Behavior 21
Market Manipulation 22
Conflicts of Interest 23
Supervisory Technology 24
Big Tech in Finance 25
AI/ML and Financial Industry Employment 25
Conclusion 26
Author Information 27
Disclaimer 27