The Future of Financial Services Is In Machine Learning

Senior associate Stephen Ozanne looks at 'Machine Learning' and gives three reasons as to why machine learning is going to radically change the financial services industry.

Since the 17th century mathematicians have been developing formulas in statistics to help make demographic and economic forecasts for policymaking. More recently, with the arrival of digital computers, more powerful algorithms have been developed, which we now use every day for a wide range of tasks, such as weather forecasting and internet searches. Machine learning has evolved from statistics and involves the development of algorithms that can give computers the ability to learn information, without the information being preprogrammed, in order to solve particular problems.