Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes:* Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI* AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today's Financial Services Industry* The future state of financial services and capital markets - what's next for the real-world implementation of AITech?* The innovating customer - users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness* Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the 'unbundled corporation' & the future of work, social responsibility, sustainability, and the new leadership imperatives* Ethical considerations of deploying Al solutions and why explainable Al is so important

Preface viiiAbout the Editors xiAcknowledgements xiii1. AI: Need to KnowThe Future of AI in Finance 6What is AI and How to Make It Work for You 9Getting to Day Zero: Let's Get the Foundation Right 11Navigating a Sea of Information, News and Opinion with Augmented Human Intelligence 14The Seven Deadly Sins of AI 16A New Internet, Data Banks and Digital World War 18AI: A Cross Country Analysis of China versus the West 20The AI Advantage: Near-Term Workforce Opportunities and Challenges 23The Art of Involving Boards in Embracing AI 262. Deposits and LendingAI in Lending 34Financial Technology and China's Inclusive Finance 39The Future of Deposits and Lending 43Applications of AI in Deposits and Lending 46Showcase and Customer Service: Leveraging Chatbots in the Banking Industry 49The Power of AI to Transform the Global SME Credit Landscape 52Using AI for Credit Assessment in Underserved Segments 54Why Video Games Might Help You Buy Your First House 56AI Opportunities in the African Financial Sector: Use Cases 583. InsuranceInsurance and AI: Choices in Leadership, Purpose and Trust 65Drifting into Algocratic Insurance? 71Moving the AI Needle: Strategies for Health Insurers to Put AI into Practice 75AI and Healthcare: Doctor Will FaceTime You Now! 78Using Artificial Intelligence in Commercial Underwriting to Drive Productivity Growth 81The Digitally-Enabled Underwriter: How AI is Transforming Commercial Insurance Underwriting 83Improving Policy Life Cycle Management with AI and Data Science 86Disrupting the Insurance Value Chain 89Cutting to the Chase: Mapping AI to the Real-World Insurance Value Chain 924. PaymentsArtificial Intelligence: The Next Leap Forward in the Payments Revolution 102Frictionless Payments: If or When? 105Big Data, AI and Machine Learning: How to Unlock Their Potential in the New Payment Environment 108The Rise of Conversational AI Platforms 111Two Dimensional Virtual Vertical Integration: Solving the Impossible SC Problem 1135. Investment and Wealth ManagementThe True Value of AI to Transform Push/Pull Wealth Management Offers 122Machine Learning in Digital Wealth Management 125The Impact of AI on Environmental, Social and Governance (ESG) Investing: Implications for the Investment Value Chain 129AI in Indian Investment and Asset Management: Global Perspective 132Finding Order in the Chaos: Investment Selection Using AI 134Dispelling the Illusion 137ETF 2.0: Mega Block Chains with AI 140Fear and Greed 1436. Capital MarketsIntroduction on AI Approaches in Capital Markets 150AI, Machine Learning and the Financial Service Industry: A Primer 157Compliance as an Outcome 160Alternative Data and MetaQuants: Making the Most of Artificial Intelligence for Visionaries in Capital Markets 163AI and Capital Markets: Where to Now? 1667. Trust, Transparency and EthicsTrust in FinTech and AI: Some Introductory Reflections 172Building Trust through Sound Governance 175Independent AI Ethics Committees and ESG Corporate Reporting on AI as Emerging Corporate and AIGovernance Trends 180The Wisdom Vantage 186AI and Business Ethics in Financial Markets 188AI Trust, Ethics, Transparency and Enablement 191Invisible Hand, Spontaneous Order and Artificial Intelligence 195Transforming Black Box AI in the Finance Industry: Explainable AI that is Intuitive and Prescriptive 197Making Data Your Most Valuable Asset 200The Data Promise 2028. Legal Risk and RegulationAI and the Law: Challenges and Risks for the Financial Services Sector 209Algorithm Assurance 214Regulation of AI within the Financial Services Sector 217Is Risk-Based Regulation the Most Efficient Strategy to Rule the Unknown Risks Brought by FinTech? 220The Changing Face of Regulatory, Compliance and Audit 223Robocop on Wall Street 225Sure, AI Can Answer Our Questions - But Who Will Answer Our Questions About AI? 229Technology for Regulations and Compliance: Fit4Future! 2329. The Future of AI in FinanceWelcome to the Future 238An AI-Embedded Financial Future 242Open Banking, Blockchain and AI: The Building Blocks for Web 3.0 245Automated Machine Learning and Federated Learning 248Deep Learning and Financial Regulation 251AI for Development and Prosperity 254The AI Trends That Will Shape Winning Businesses 257Mastering the AI Talent Transformation: Present and Future 259Humans versus Machines: Who Will Still Have a Job in 50 Years? 262Is AI Ready for Morality? 265Confessions of an AI Portfolio Manager 267Appendix 270List of Contributors 272Index 283