In today's rapidly evolving financial ecosystem, artificial intelligence, ai, and machine learning are no longer optional.

They are essential.

But what exactly do we mean by AI and machine learning? AI refers to machines that are designed to perform tasks that typically require human intelligence, like decision making, understanding of language and pattern recognition.

Machine learning is a subset of AI that allows systems to learn from data and to improve over time without being explicitly programmed in finance.

These technologies are already at work.

Machine learning models drive fraud detection systems and AI powers chatbots, which handle millions of client inquiries, while natural language processing is used to scan financial disclosures and earnings transcripts in seconds.

Financial services due to their language heavy nature are uniquely positioned to benefit from AI's capabilities.

Understanding the foundational concepts of AI and machine learning is the first step in navigating the opportunities and risks that lie ahead.