Emerging technologies are fundamentally changing the way the financial industry operates on a global scale. How two of the most impactful ones, artificial intelligence (AI) and blockchain are reshaping the financial industry on global scale?
AI and blockchain are revolutionizing the financial industry globally. AI enhances efficiency through automation and predictive analytics, improving decision-making and risk management. Blockchain ensures secure, transparent transactions and introduces digital assets like cryptocurrencies, reshaping investment and financial services. These technologies are driving significant advancements and transforming the financial landscape.
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https://www.academia.edu/34539513/Essay_on_Big_Data_and_Stochastic_Model_by_Amin_Elsaleh
Reference to my essay on Stochastic Models in particular the 1 section « Handling human social technical dimension; in particular man-system interface including positioning technology at man services » you may find guidelines to produce these tools and make BIG DATA exploitable by large majority of users : 1. Engine should trace “player” behaviour, evaluate its capabilities and quickly meet its needs. 2. Immersion generated by simulation enables training and experimentation of behaviour strategies, in particular learning “by doing”. 3. Engine should use following resources : 3.1. Tools to be customized by trainers. 3.2. Applied standards. 3.3. New learning approaches discovery through obtained results, whether these approaches are positive or negative, in the sense of improving technology performance of assembled prototypes. 4. How SPDF (Standard Process Description Format) may produce a universal engine to run the stochastic model ?
Research Proposal Network -based human intelligence Preamble
Emerging technologies are significantly reshaping the financial industry on a global scale by enhancing efficiency, improving customer experience, and creating new business models. Key technologies driving this transformation include artificial intelligence (AI), blockchain, big data, and fintech innovations. Here’s a closer look at their impact:
Artificial Intelligence (AI) and Machine Learning (ML):
Automation and Efficiency: AI and ML are automating routine tasks, reducing operational costs, and minimizing human error. This includes automated customer service through chatbots, fraud detection, and regulatory compliance.
Predictive Analytics: These technologies are being used to analyze large volumes of data to predict market trends, assess credit risk, and personalize financial products and services for customers.
Blockchain and Cryptocurrencies:
Decentralization and Transparency: Blockchain provides a decentralized and transparent way to record transactions, reducing the need for intermediaries and increasing trust in financial systems.
Cryptocurrencies and Digital Assets: The rise of cryptocurrencies like Bitcoin and Ethereum is changing how value is stored and transferred globally, offering new investment opportunities and financial products.
Big Data and Analytics:
Customer Insights: Financial institutions are leveraging big data to gain deeper insights into customer behavior and preferences, enabling more targeted marketing and personalized service offerings.
Risk Management: Big data analytics helps in identifying and mitigating risks by analyzing patterns and anomalies that indicate potential fraud or market instability.
Fintech Innovations:
Digital Banking and Payment Solutions: The proliferation of digital banks and payment platforms is providing more convenient, faster, and cheaper financial services, especially in underserved regions.
Peer-to-Peer (P2P) Lending and Crowdfunding: These platforms are democratizing access to capital, allowing individuals and small businesses to secure funding without traditional financial intermediaries.
RegTech (Regulatory Technology):
Compliance and Reporting: RegTech solutions use advanced software to help financial institutions comply with regulations efficiently, automate reporting, and reduce the risk of non-compliance.
Cybersecurity:
Protection Against Threats: As financial services become more digital, the importance of robust cybersecurity measures grows. Emerging technologies are enhancing the ability to detect and respond to cyber threats in real-time.
Internet of Things (IoT):
Connected Devices: IoT is enabling new forms of payments and financial interactions through connected devices, such as smartwatches and other wearables, further integrating financial services into daily life.
Robo-Advisors:
Automated Investment Advice: Robo-advisors use algorithms to provide financial advice and portfolio management with minimal human intervention, making investing more accessible and affordable.
These technologies are not only transforming traditional financial services but also fostering financial inclusion by making services more accessible to unbanked and underbanked populations. The ongoing integration of these technologies is expected to continue driving innovation and competition in the financial sector globally.
https://www.emerald.com/insight/content/doi/10.1108/978-1-80262-277-520231005/full/html