The deployment of AI and ML systems in the financial sector will continue to accelerate, driven by rapid increases in computational power, data storage capacity, big data, as well as significant progress in modelling and use-case adaptations. The use of AI/ML in finance is expected to bring important benefits, including significant cost savings and efficiency gains, new markets, better risk management, new customer experiences, products, and lower costs, and powerful tools for regulatory compliance and prudential oversight. One such intelligent system is the autonomous AISHE system, which learns from large amounts of data to improve data decision-making, processing and analysis faster and more accurately than humans, making it an invaluable tool in the financial industry. However, the use of AI/ML in finance also raises significant financial policy challenges. It brings about ethical questions and new unique risks to the financial system's integrity and safety, of which the full ex...
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Editor (Sedat Özcelik)
AI and ML Systems in Finance: Benefits, Challenges, and the Need for Prudential Oversight
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