Artificial Intelligence: Current Uses and Limitations

Artificial Intelligence technologies have received massive investment over the past couple of years as companies such as Google, Amazon, Microsoft, IBM and Facebook develop smarter, more practical approaches in its application to real world business problems. Amongst others, these companies are developing machines that can speak, listen, understand, form ideas, make decisions and interact.

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A single instance of Artificial Intelligence that holistically encompasses all of these disciplines in ways that are significantly superior to what a human can do is still some way off, but there do exist many use cases where A.I. can process and execute specific tasks faster and better than we can (for example, Google’s AlphaGo machine recently defeated a Chinese grandmaster at Go, a complex strategy board game). These capabilities are maturing rapidly and many organisations that are employing them are seeing real benefits in the support and improvement of existing processes and procedures as well as enabling the development of new business channels.

In this white paper, we discuss the scope of Artificial Intelligence and which approaches and applications are being deployed by organisations. Using the example of Investment Banking, we take a look at specific examples of Artificial Intelligence use in that industry and finish the paper by examining some of the limitations and issues that need to be resolved in order to facilitate its wider use.

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The Author

Adam Evans

Adam Evans

Associate Partner, New York

With over 12 years experience in the financial services industry, Adam has been involved in business and IT transformation projects including the development of front to back business operating models, shared services set up and strategic C-level cost efficiency and labour force restructuring initiatives. In addition, he has expertise in platform adoption and vendor management. Prior to joining Citihub Consulting, Adam worked for UBS, Bear Stearns and JP Morgan in various roles across equity derivatives.