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Finance is one of the industries with the best adoption rates of machine learning and AI methods. This makes perfect sense since companies in finance all share, more or less, these features:
- They handle large volumes of data.
- They have a large number of employees accustomed to quantitative methods.
- Even small increases in efficiency can easily translate into huge financial gains, due to the massive scale of these institutions.
A recent report by the Bank of England analysed the adoption rates of machine learning practices in UK financial institutions. On this podcast I am discussing more about this report and the machine learning in finance. I hope you enjoy it!