How artificial intelligence is transforming the financial industry

How artificial intelligence is transforming the financial industry By Michelle Fleury BBC business correspondent, New York 16 September 2015 From the section Business Image copyright Getty Images Image caption Trading on the New York Stock Exchange is increasingly done by computers Your next stockbroker might just be a computer.More and more, financial firms are turning to machines to do the job humans have done for decades.Last spring, wealth management firm Charles Schwab launched a new service called Schwab Intelligent Portfolios. The service is unique in that it’s not a person who decides where to invest your money, it’s an algorithm – lines of code programmed into a computer.”It’s lower cost for the investor,” says Tobin McDaniel, who leads the Schwab Intelligent Portfolios team.”As opposed to working with a traditional advisor…


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