The use of AI and ML in finance.
AI is the new age revolution that we are seeing in all kinds of industries. The industry of finance is not any different and, it is seeing a rise in the use of AI and ML for its services. AI is an abbreviation for Artificial Intelligence, which refers to the automation of the actions done by humans, which commonly requires human discernment and intelligence. ML is an abbreviation for Machine Learning. Machine learning is a branch of AI that uses statistical models to make predictions. It is a subset of data science that gives the ability to learn and improve from the experiences without them being programmed. It's the 21st century and it is all about data. Data without benefit is a cost more than it is a help. Data storage is available but is not for free and, it has a cost to it. Machine learning enables us to gain that from the data. Now, let’s talk about ML in the finance sector. Machine learning is a vital part of the financial services provided by finance companies. It is appl...