In its analysis of over 1,400 use cases from “Eye on Innovation” in Financial Services Awards, Gartner found that machine learning (ML) is the top technology used to empower innovations at financial services firms, with operational efficiency and cost optimisation as key intended business outcomes.
ML is a branch of artificial intelligence (AI) that involves the development of algorithms and models capable of automatically learning and improving from data. It empowers computers to identify patterns, make predictions, and take data-driven actions, enabling them to perform complex tasks and make decisions without explicit human intervention.
As the finance industry continues to embrace the power of ML, it is crucial to understand its use cases and challenges, as well as software ecosystems that are fueling its growth.
This blog provides a brief overview of ML in the finance industry and highlights some of the mature and evolving ML use cases that are having a…