AI and risk management: Are financial services future-proof?

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City AM

By Darren Parkin by Emre Kazim, Ashyana-Jasmine Kachra and Ayesha Gulley of Holistic AI Across industries from healthcare to agriculture to financial services, we have seen the rapid adoption of artificial intelligence (AI) increasing efficiency and accuracy. In the financial services sector, AI is being used to recommend investments using a data-driven approach and identify fraudulent transactions based on spending habits. However, with high-profile incidents such as the glitch in Knight Capital’s trading algorithm, which led to the loss of $440 million USD in just 30 minutes, or a recent law…

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