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Jeffrey Ng CFA - Hands-On Artificial Intelligence for Banking: A practical guide to building intelligent financial applications using machine learning techniques

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Hands-On Artificial Intelligence for Banking: A practical guide to building intelligent financial applications using machine learning techniques: summary, description and annotation

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Delve into the world of real-world financial applications using deep learning, artificial intelligence, and production-grade data feeds and technology with Python

Key Features
  • Understand how to obtain financial data via Quandl or internal systems
  • Automate commercial banking using artificial intelligence and Python programs
  • Implement various artificial intelligence models to make personal banking easy
Book Description

Remodeling your outlook on banking begins with keeping up-to-date with the latest and most effective approaches, such as artificial intelligence (AI). Hands-On Artificial Intelligence for Banking is a practical guide that will help you advance in your career in the banking domain. The book will demonstrate AI implementation to make your banking services smoother, more cost-efficient and accessible to clients, focusing on both the client and server-side uses of AI.

Youll begin by understanding the importance of artificial intelligence, while also gaining insights into the recent AI revolution in the banking industry. Next, youll get hands-on machine learning experience, exploring how to use time series analysis and reinforcement learning to automate client procurements and banking and finance decisions. After this, youll progress to learning about mechanizing capital market decisions, using automated portfolio management systems and predicting the future of investment banking. In addition to this, youll explore concepts such as building personal wealth advisors and mass customization of client lifetime wealth. Finally, youll get to grips with some real-world AI considerations in the field of banking.

By the end of this book, youll be equipped with the skills you need to navigate the finance domain by leveraging the power of AI.

What you will learn
  • Automate commercial bank pricing with reinforcement learning
  • Perform technical analysis using convolutional layers on Keras
  • Use natural language processing (NLP) for predicting market responses and visualizing them using graph databases
  • Deploy a robot advisor to manage your personal finances via Openbank
  • Sense market needs using sentiment analysis for algorithmic marketing
  • Explore AI adoption in banking using practical examples
  • Understand how to obtain financial data from commercial, open, and internal sources
Who This Book Is For

This is one of the most useful artificial intelligence books for machine learning engineers, data engineers, and data scientists working in the finance industry who are looking to implement AI in their business applications. The book will also help entrepreneurs, venture capitalists, investment bankers, and wealth managers who want to understand the importance of AI in finance and banking and how it can help them solve different problems related to these domains. Prior experience in the financial markets or banking domain, and working knowledge of the Python programming language are a must.

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Hands-On Artificial Intelligence for Banking A practical guide to building - photo 1
Hands-On Artificial Intelligence for Banking
A practical guide to building intelligent financial applications using machine learning techniques
Jeffrey Ng, CFA
Subhash Shah

BIRMINGHAM - MUMBAI Hands-On Artificial Intelligence for Banking Copyright - photo 2

BIRMINGHAM - MUMBAI
Hands-On Artificial Intelligence for Banking

Copyright 2020 Packt Publishing

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews.

Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the author(s), nor Packt Publishing or its dealers and distributors, will be held liable for any damages caused or alleged to have been caused directly or indirectly by this book.

Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information.

Commissioning Editor: Pravin Dhandre
Acquisition Editor: Nelson Morris
Content Development Editor: Athikho Sapuni Rishana
Senior Editor: Roshan Kumar
Technical Editor: Manikandan Kurup
Copy Editor: Safis Editing
Project Coordinator: Aishwarya Mohan
Proofreader: Safis Editing
Indexer: Priyanka Dhadke
Production Designer: Alishon Mendonca

First published: July 2020

Production reference: 1090720

Published by Packt Publishing Ltd.
Livery Place
35 Livery Street
Birmingham
B3 2PB, UK.

ISBN 978-1-78883-078-2

www.packt.com

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Contributors
About the authors

Jeffrey Ng, CFA, works at Ping An OneConnect Bank (Hong Kong) Limited as Head of FinTech Solutions. His mandate is to advance the use of AI in banking and financial ecosystems. Prior to this, he headed up the data lab of BNP Paribas Asia Pacific, which constructed an AI and data analytics solution for business, and was the vice-chair of the French Chamber of Commerce's FinTech Committee in Hong Kong. In 2010, as one of the pioneers in applying client analytics to investment banking, he built the analytics team for the bank. He has undertaken AI projects in retail and commercial banks with PwC Consulting and GE Money. He graduated from Hong Kong Polytechnic University in computing and management and holds an MBA in finance from the Chinese University of Hong Kong.

I want to thank my family and university lecturers for their encouragement during the darkest point of my life (literally and emotionally). Thank God I have you all.

Subhash Shah works as Head of Technology at AIMDek Technologies Pvt. Ltd. He is an experienced solutions architect with over 12 years' experience. He holds a degree in information technology. He is an advocate of open source development and its utilization in solving critical business problems at a reduced cost. His interests include microservices, data analysis, machine learning, AI, and databases. He is an admirer of quality code and Test-Driven Development (TDD). His technical skills include, but are by no means limited to, translating business requirements into scalable architecture, designing sustainable solutions, and project delivery. He is a coauthor of MySQL 8 Administrator's Guide and Hands-On High Performance with Spring 5.

About the reviewers

Anil Omanwar has a dynamic personality with a great passion for the latest technology trends and research. He has over 13 years of experience in researching cognitive computing, while NLP, machine learning, information visualization, and text analytics are just a few of his areas of research interest. He is proficient in sentiment analysis, questionnaire-based feedback, text clustering, and phrase extraction in diverse domains such as banking, oil and gas, life sciences, manufacturing, and retail. He currently works for IBM Australia as a data science platform specialist, developing and delivering cognitive, AI-enabled platforms and solutions for businesses. He holds multiple patents on emerging technologies, including NLP automation and device intelligence.

Thanks to my mentors, parents, and family for their guidance and support.

Pouya Jamshidiat is an award-winning product leader and strategist in AI, fintech, and life sciences. He is a featured speaker at Product School and co-author of The AI Book. He is the founder of Pioneer Minds Ltd. Previously, he worked with the Lloyds Banking Group as a senior product owner on the application of AI in various sectors of the bank. He introduced the most advanced search and knowledge management technologies to the Lloyds Banking Group . He has worked for IBM as a senior product design consultant and as a senior product owner at Monitise. He has designed mobile banking and commerce value propositions. Recently, Pouya made the move to the life sciences sector, joining Eagle Genomics to help them apply AI to solve the big challenges facing scientists.

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Preface

Remodeling your outlook on banking begins with keeping up to date with the latest and most effective approaches, such as

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