Artificial Intelligence -Usage and Languages

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Artificial Intelligence & Machine learning saw a great spike in past few years, whether it is due
to Partnerships, In-house Developments, Acquisitions. Large financial institutions around the world
has been involved in bringing Artificial Intelligence into operations and customer facing functions.
It has opened up a world of possibilities for Application developers.
As machines continue to learn and analyze data, financial institutions can capitalize in various areas
to enhance productivity and ultimately profitability. Machine learning and Artificial intelligence can
effortlessly consume data and expedite at large levels.
A.I.has several applications in banking sector of which the main are -
1. AMP (Anti Money Laundering) Pattern- Refers to sets of procedures, laws or regulations
    designed to stop practice of generating income through illegal actions In most cases. most
    of major banks throughout are shifting from role based software to A.I. based systems which
    are more robust and intelligent to anti-money laundering pattern.
2.  Fraud Detection - This field has received boost in providing accurate & superior results with
     A.I. It is one of the main areas where A.I. systems has excelled the most.
3.  Chat Bots - It is an A.I. based automated chat systems which stimulates human chats without
     any human interventions. They identify and text the emotions in the text chart by human use.
4.  Algorithmic trading - Hedge funds are using systems to deploy A.I. models by following
     different strategies for making trades as soon as they identify trading opportunity based on
     inputs.
5. Customer recommendations - Recommendations engines have been successful and a key
     component in revenue growth by Banks.   

A.I. programming is mainly done on five main languages and these are -
1. JAVA  -       This was originally designed to develop programs for set-up Boxes & hand handled
                       devices which later became popular for Web Applications.
2. PYTHON - It is a General purpose programming language and can be designed to facilitate
                       Data analysis & visualization. It can also be used for complex scientific and numeric
                       applications.
3. PROLOG - Based on defining and then solving logical formulas and is used widely for A.I.
                       expert systems.
4. LISP        -  It is a commonly used language for A.I. programming. Developed in 1959, it is one
                       of the oldest programming language widely in use. All computations are expressed
                       as a function one object only. It is older than FORTRAN (Formula translation
                      language).
5. C++        -  It is a General purpose powerful program used to create small programs or large
                      applications. It create program to do almost anything in programming.     

        

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