Data science and AI in FinTech: An overview
- URL: http://arxiv.org/abs/2007.12681v2
- Date: Tue, 20 Jul 2021 08:28:58 GMT
- Title: Data science and AI in FinTech: An overview
- Authors: Longbing Cao, Qiang Yang and Philip S. Yu
- Abstract summary: Smart FinTech is largely inspired and empowered by data science and new-generation AI and (DSAI) techniques.
The research on data science and AI in FinTech involves many latest progress made in smart FinTech for BankingTech, TradeTech, LendTech, InsurTech, WealthTech, PayTech, RiskTech, cryptocurrencies, and blockchain.
- Score: 102.56893575390569
- License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
- Abstract: Financial technology (FinTech) has been playing an increasingly critical role
in driving modern economies, society, technology, and many other areas. Smart
FinTech is the new-generation FinTech, largely inspired and empowered by data
science and new-generation AI and (DSAI) techniques. Smart FinTech synthesizes
broad DSAI and transforms finance and economies to drive intelligent,
automated, whole-of-business and personalized economic and financial
businesses, services and systems. The research on data science and AI in
FinTech involves many latest progress made in smart FinTech for BankingTech,
TradeTech, LendTech, InsurTech, WealthTech, PayTech, RiskTech,
cryptocurrencies, and blockchain, and the DSAI techniques including complex
system methods, quantitative methods, intelligent interactions, recognition and
responses, data analytics, deep learning, federated learning,
privacy-preserving processing, augmentation, optimization, and system
intelligence enhancement. Here, we present a highly dense research overview of
smart financial businesses and their challenges, the smart FinTech ecosystem,
the DSAI techniques to enable smart FinTech, and some research directions of
smart FinTech futures to the DSAI communities.
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