Big data, artificial intelligence, and machine learning: a transformative symbiosis in favour of financial technology

Nguyen, D. K., Sermpinis, G. and Stasinakis, C. (2023) Big data, artificial intelligence, and machine learning: a transformative symbiosis in favour of financial technology. European Financial Management, 29(2), pp. 517-548. (doi: 10.1111/eufm.12365)

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.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Stasinakis, Professor Charalampos and Sermpinis, Professor Georgios
• Authors: Nguyen, D. K., Sermpinis, G., and Stasinakis, C.
• College/School: College of Social Sciences > Adam Smith Business School > Accounting and Finance
• Journal Name: European Financial Management
• Publisher: Wiley
• ISSN: 1354-7798
• ISSN (Online): 1468-036X
• Published Online: 13 April 2022
• Copyright Holders: Copyright © 2022 John Wiley and Sons Ltd
• First Published: First published in European Financial Management 29(2): 517-548
• Publisher Policy: Reproduced in accordance with the publisher copyright policy