AI in Finance: Insights from BNY Mellon

  • “AI is now assisting in the creation of investment strategies. Some firms are using AI for robo-advising creating digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. Additionally, AI is helping create more complete profiles of clients for investment managers so they can better serve each client.
  • The biggest issue is the lack of “accountability” that you get when using AI.  After all, AI is probabilistic not deterministic so you will never get 100% certainly with machine learning results.”

Kumar Srivastava, VP of Product and Strategy of BNY Mellon

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