Artificial Intelligence and Machine Learning in Financial Services – Where might it go next?

Artificial Intelligence and Machine Learning in Financial Services – Where might it go next?

1 July 2019

We often hear that the opportunities for financial services companies from artificial intelligence (AI) and machine learning (ML) are boundless. It will reduce cost, improve the product and drive customer engagement. But few practical examples are offered.

Over the last year Bravura has been exploring new ways of developing and analysing the latest in technology through an Innovation Lab – a space dedicated to finding exciting answers to new challenges. Bravura firmly believe that increasing our collective ability to innovate as an industry, is critical to ensuring success and delivering best-of-breed services to customers.

Our vision for our own products and services is to create and deliver modern, open, agile business solutions that provide an enduring competitive advantage to clients by combining compelling functionality with modern technology.

With this vision in mind, we brought together a group of industry experts from platforms, asset management and financial advice, to explore specific opportunities and challenges for artificial intelligence and machine learning to help guide the thinking of our Innovation Lab. In this paper we share some of the highlights from the discussion and our thoughts on the opportunities for our customers from AI.

At Bravura, we have established a data science practice that can help firms implement machine learning. We believe that machine learning can be used by firms large and small in many areas, from remodelling operations through to revamping the customer experience.

I would like to thank our participants for taking part in the roundtable and myself and the Bravura team welcome any questions, challenges or feedback you might have on artificial intelligence and machine learning, or on other areas of technological innovation.

You can download our paper on AI and all of our other whitepapers, by clicking here.

About the author

Simon Clare

Simon Clare

Head of Technology and Innovation (Wealth)

Simon Clare is Head of Technology and Innovation (Wealth) for Bravura Solutions, based in our London office. He is responsible for running and developing Bravura’s Innovation Lab, which has produced a number of powerful demonstrators showing how Sonata can integrate with and leverage emerging technologies such as Open Banking, Amazon Alexa and machine learning.

He has years of deep IT experience across software development, technical architecture and solution design.