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Is artificial intelligence ready for financial compliance?

Daniel Fernandez | October 24, 2017

Like many industry buzzwords, artificial intelligence (AI) has become a hot topic that RegTech technologists often write or speak about. But the reality is that AI has become an overloaded and misused term, often mistaken for Machine Learning (ML). This article aims to clarify the difference between the two, explain some of the complexities of implementing these solutions today, and highlight how ML can immediately add value to financial compliance applications.

In simple terms, artificial intelligence enables computer systems to perform tasks that require human intelligence. Intelligence is the key word. In contrast, Machine Learning refers to a computer system that has the ability to learn how to do specific tasks and, in some instances, can use past data to make future decisions or predictions without being explicitly “told” (programmed) how to do so. Machine learning is a key building block of artificial intelligence.

Contextualizing machine learning....

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