AI democratising access by unlocking efficiency News Today

  • | Friday | 11th June, 2021

Chennai: Financial markets worldwide are undergoing digital transformation with huge adoption of AI and ML solutions across algorithmic trading and portfolio management market analysis and intelligent forecasting capital optimisation risk management regulatory compliance customer service etc. AI which is at the centerstage of cognitive technologies disrupting global financial markets is democratising access by unlocking greater efficiency safety and performance lowering entry barriers and driving increased fluidity. Forbes predicts the value of AI technology in the sector to grow at 23.37 per cent CAGR to $22.6 billion by 2025 (link). However lack of skilled talent has been cited among the key obstacles to AI technology adoption in financial markets. An InsightBrief report cites a global survey where 54 per cent of respondents cited stakeholders' lack of understanding and 52 per cent cited lack of necessary skills as main challenges for AI deployments.

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