Money and value – how AI could revolutionize our economic systems
AI has been no stranger to fintech as well as our greater economic systems. We’ve seen the rise of cryptocurrencies develop in concert with this change in how the financial industry operates. Smart contracts specifically have been a huge motivator for crypto and blockchain adoption. This isn’t a book about crypto, but it does signal a change in how financial industries and economic systems fundamentally operate.
AI and ML are excellent tools for optimization, and there are few more compelling use cases for AI/ML than the optimization of profits. The financial industry has been leveraging quantitative analysts or quants for a long time. Quants do statistical and mathematical modeling for financial and risk modeling problems and, in many cases, it has been a profitable career for those who were interested in the sexiest job of the 21st century, aka data science, even before this term was made...