AI in the Finance Sector by Valerie Annabella (TP071725)

 

The problem which I plan to solve with AI is ineffective risk management, which in contemporary finance is a primary challenge, which is due to the reason that traditional methods relied on historical data, which consist of financial data of the market, which could accumulate into thousands of pieces of data, which would then be processed and analysed by financial analyst, as so to have a prediction on the market and be able to manage the risk of launching a new product. But, the processing and analysing of every piece of data could be a little bit mundane to a human and it could also result in errors being made, which could be due to missing small pieces of data.

Thus, I would propose using Artificial intelligence (AI)to solve this problem which is due to the reason that AI is able to improve the market prediction accuracy and risk management by accurately predicting market volatility through analysis of financial data and operational details, leveraging its computational efficiency to outperform human capabilities.

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