Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author: El Bachir Boukherouaa

Publisher: International Monetary Fund

Published: 2021-10-22

Total Pages: 35

ISBN-13: 1589063953

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This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.


Artificial Intelligence

Artificial Intelligence

Author: Harvard Business Review

Publisher: HBR Insights

Published: 2019

Total Pages: 160

ISBN-13: 9781633697898

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Companies that don't use AI to their advantage will soon be left behind. Artificial intelligence and machine learning will drive a massive reshaping of the economy and society. What should you and your company be doing right now to ensure that your business is poised for success? These articles by AI experts and consultants will help you understand today's essential thinking on what AI is capable of now, how to adopt it in your organization, and how the technology is likely to evolve in the near future. Artificial Intelligence: The Insights You Need from Harvard Business Review will help you spearhead important conversations, get going on the right AI initiatives for your company, and capitalize on the opportunity of the machine intelligence revolution. Catch up on current topics and deepen your understanding of them with the Insights You Need series from Harvard Business Review. Featuring some of HBR's best and most recent thinking, Insights You Need titles are both a primer on today's most pressing issues and an extension of the conversation, with interesting research, interviews, case studies, and practical ideas to help you explore how a particular issue will impact your company and what it will mean for you and your business.


An Introduction to Ethics in Robotics and AI

An Introduction to Ethics in Robotics and AI

Author: Christoph Bartneck

Publisher: Springer Nature

Published: 2020-08-11

Total Pages: 124

ISBN-13: 3030511103

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This open access book introduces the reader to the foundations of AI and ethics. It discusses issues of trust, responsibility, liability, privacy and risk. It focuses on the interaction between people and the AI systems and Robotics they use. Designed to be accessible for a broad audience, reading this book does not require prerequisite technical, legal or philosophical expertise. Throughout, the authors use examples to illustrate the issues at hand and conclude the book with a discussion on the application areas of AI and Robotics, in particular autonomous vehicles, automatic weapon systems and biased algorithms. A list of questions and further readings is also included for students willing to explore the topic further.


Harnessing AI for Business Development and Sales

Harnessing AI for Business Development and Sales

Author: Rick Spair

Publisher: Rick Spair

Published:

Total Pages: 117

ISBN-13:

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In an era defined by rapid technological advancements, businesses are increasingly turning to Artificial Intelligence (AI) to drive growth, innovation, and competitive advantage. From automating routine tasks to providing deep insights into customer behavior, AI has the potential to transform every aspect of business development and sales. However, the journey to integrating AI effectively into business processes is fraught with challenges, requiring a comprehensive understanding of AI technologies, strategic planning, and a commitment to ethical practices. This book, "Harnessing AI for Business Development and Sales," is a comprehensive guide designed to help businesses navigate the complexities of AI adoption. It explores the transformative potential of AI, providing insights into how businesses can leverage AI to enhance their operations, engage customers more effectively, and drive sustainable growth. Each chapter delves into critical aspects of AI in business, from foundational concepts and advanced applications to ethical considerations and future trends. Why This Book? As AI continues to evolve, its applications in business development and sales are becoming more sophisticated and far-reaching. However, many businesses struggle to understand where to begin, how to implement AI effectively, and how to measure its impact. This book aims to bridge that gap by offering practical insights, real-world examples, and actionable strategies. What You'll Learn Foundational Concepts: The book starts with an introduction to AI, its historical evolution, and its relevance to business development and sales. It provides a solid foundation for understanding AI technologies and their applications. Practical Applications: Each chapter explores specific applications of AI in business, such as market research, lead generation, customer relationship management, sales forecasting, and personalized marketing. Detailed examples and case studies illustrate how leading companies are leveraging AI to achieve remarkable results. Ethical Considerations: With great power comes great responsibility. The book addresses the ethical implications of using AI in business, offering guidelines for responsible AI implementation. Topics such as fairness, transparency, data privacy, and bias mitigation are thoroughly discussed. Future Trends: The final chapters look ahead to the future of AI in business development and sales, exploring emerging trends and technologies that will shape the landscape. Readers will gain insights into how to stay ahead of the curve and prepare for the next wave of AI innovations. Who Should Read This Book? This book is for business leaders, sales professionals, marketers, and anyone interested in understanding and leveraging AI for business success. Whether you are a seasoned executive looking to integrate AI into your strategic planning or a newcomer eager to explore the potential of AI, this book provides valuable insights and practical advice. How to Use This Book Each chapter is structured to be both informative and actionable. Key concepts are explained clearly, and practical examples and case studies provide real-world context. The book also includes checklists, frameworks, tools, resources, and best practices that you can apply directly to your business. Conclusion By harnessing the power of AI, businesses can unlock new opportunities, drive innovation, and achieve sustainable growth. This book is your guide to navigating the AI landscape, understanding its potential, and implementing it effectively in your business development and sales strategies.Welcome to "Harnessing AI for Business Development and Sales."


Artificial Intelligence in Practice

Artificial Intelligence in Practice

Author: Bernard Marr

Publisher: John Wiley & Sons

Published: 2019-04-15

Total Pages: 220

ISBN-13: 1119548985

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Cyber-solutions to real-world business problems Artificial Intelligence in Practice is a fascinating look into how companies use AI and machine learning to solve problems. Presenting 50 case studies of actual situations, this book demonstrates practical applications to issues faced by businesses around the globe. The rapidly evolving field of artificial intelligence has expanded beyond research labs and computer science departments and made its way into the mainstream business environment. Artificial intelligence and machine learning are cited as the most important modern business trends to drive success. It is used in areas ranging from banking and finance to social media and marketing. This technology continues to provide innovative solutions to businesses of all sizes, sectors and industries. This engaging and topical book explores a wide range of cases illustrating how businesses use AI to boost performance, drive efficiency, analyse market preferences and many others. Best-selling author and renowned AI expert Bernard Marr reveals how machine learning technology is transforming the way companies conduct business. This detailed examination provides an overview of each company, describes the specific problem and explains how AI facilitates resolution. Each case study provides a comprehensive overview, including some technical details as well as key learning summaries: Understand how specific business problems are addressed by innovative machine learning methods Explore how current artificial intelligence applications improve performance and increase efficiency in various situations Expand your knowledge of recent AI advancements in technology Gain insight on the future of AI and its increasing role in business and industry Artificial Intelligence in Practice: How 50 Successful Companies Used Artificial Intelligence to Solve Problems is an insightful and informative exploration of the transformative power of technology in 21st century commerce.


Disrupting Finance

Disrupting Finance

Author: Theo Lynn

Publisher: Springer

Published: 2018-12-06

Total Pages: 194

ISBN-13: 3030023303

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This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry.


Competing in the Age of AI

Competing in the Age of AI

Author: Marco Iansiti

Publisher: Harvard Business Press

Published: 2020-01-07

Total Pages: 181

ISBN-13: 1633697630

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"a provocative new book" — The New York Times AI-centric organizations exhibit a new operating architecture, redefining how they create, capture, share, and deliver value. Now with a new preface that explores how the coronavirus crisis compelled organizations such as Massachusetts General Hospital, Verizon, and IKEA to transform themselves with remarkable speed, Marco Iansiti and Karim R. Lakhani show how reinventing the firm around data, analytics, and AI removes traditional constraints on scale, scope, and learning that have restricted business growth for hundreds of years. From Airbnb to Ant Financial, Microsoft to Amazon, research shows how AI-driven processes are vastly more scalable than traditional processes, allow massive scope increase, enabling companies to straddle industry boundaries, and create powerful opportunities for learning—to drive ever more accurate, complex, and sophisticated predictions. When traditional operating constraints are removed, strategy becomes a whole new game, one whose rules and likely outcomes this book will make clear. Iansiti and Lakhani: Present a framework for rethinking business and operating models Explain how "collisions" between AI-driven/digital and traditional/analog firms are reshaping competition, altering the structure of our economy, and forcing traditional companies to rearchitect their operating models Explain the opportunities and risks created by digital firms Describe the new challenges and responsibilities for the leaders of both digital and traditional firms Packed with examples—including many from the most powerful and innovative global, AI-driven competitors—and based on research in hundreds of firms across many sectors, this is your essential guide for rethinking how your firm competes and operates in the era of AI.


Business Analysis

Business Analysis

Author: James Cadle

Publisher: BCS, The Chartered Institute for IT

Published: 2014

Total Pages: 308

ISBN-13: 9781780172781

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Business analysts must respond to the challenges of today's highly competitive global economy by developing practical, creative and financially sound solutions and this excellent guide gives them the necessary tools. It is also ideal for students wanting to gain university and industry qualifications. This new edition includes expanded discussions regarding gap analysis and benefits management, the impact of Agile software development and an introduction to business architecture.