Overview of Machine Learning Applications in Financial Sector

Machine Learning(ML) and Artificial Intelligence(AI) are virtually changing every aspect of our lives by having its applications in various sectors and areas like Oil and Gas, Health care, Government, Financial services, Transportation, Marketing &Sales, and customer service etc. This disruptive technology has ability to learn from data, identify patterns and make predictions with minimum human intervention. Machine learning can help financial institutions to detect and prevent frauds, predict upcoming opportunities, analyze business cases and take appropriate actions, do sentiment analysis, portfolio management etc. The purpose of this paper is to take overview of some of the applications of ML in Financial Services.