Big Data, Artificial Intelligence and Machine Learning: A Transformative Symbiosis in Favour of Financial Technology

50 Pages Posted: 9 Sep 2020 Last revised: 18 Apr 2022

See all articles by Duc Khuong Nguyen

Duc Khuong Nguyen

IPAG Business School

Georgios Sermpinis

University of Glasgow

Charalampos Stasinakis

University of Glasgow

Date Written: July 29, 2020

Abstract

This paper uses a multidimensional descriptive analysis to familiarize
the reader with the extent of penetration of big data, artificial
intelligence (AI), and machine learning (ML) techniques in
the financial technology roadmap. We propose a clear framework
for the symbiotic nature of these data science themes towards
fintech empowerment. The framework is validated
through their impact in fintech, financial services’ profession and
the shifting paradigm of the data scientist role. We also discuss
the dark side of this symbiosis, while AI and ML techniques are
tied with the future challenges of AI ethics, regulation technology
and the smart data utilization.

(forthcoming European Financial Management)

Keywords: FinTech, Artificial Intelligence, Machine Learning, Big Data, Digital Finance, RegTech, Smart Data

JEL Classification: C5, C6, G2, O3

Suggested Citation

Nguyen, Duc Khuong and Sermpinis, Georgios and Stasinakis, Charalampos, Big Data, Artificial Intelligence and Machine Learning: A Transformative Symbiosis in Favour of Financial Technology (July 29, 2020). Available at SSRN: https://ssrn.com/abstract=3663062 or http://dx.doi.org/10.2139/ssrn.3663062

Duc Khuong Nguyen

IPAG Business School ( email )

184 BD Saint Germain
Paris, 75006
France

HOME PAGE: http://www.ipag.fr/en/

Georgios Sermpinis

University of Glasgow ( email )

Adam Smith Business School
Glasgow, Scotland G12 8LE
United Kingdom

Charalampos Stasinakis (Contact Author)

University of Glasgow ( email )

University Avenue
Adam Smith Business School
Glasgow, Scotland G128QQ
United Kingdom

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