Advertisement

Applications of Artificial Intelligence in banking, financial services and economics

  • Louis F. Pau
  • Claudio Gianotti
Chapter

Abstract

This chapter surveys approximately 250 actual applications development projects carried out by companies and institutions, with specifications of the nature of the AI project goals, of the development environments and of project partners (if known). Of course, owing to the fast changes in the field and to implementation experiences, this list cannot be complete nor exhaustive, and can only be up-to-date as of the manuscript completion. The goal is therefore rather to identify methodological as well as software tools needs resulting from the development projects listed. The application areas covered are: banking, finance, insurance, economics, auditing, commodities trading, tax planning, general management.

Keywords

Expert System Portfolio Management Banking Credit Mortgage Loan Security Trading 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Project references

  1. 1.
    L.F. Pau (Ed.), Artificial intelligence in economics and management, North Holland, Amsterdam, 1986.Google Scholar
  2. 2.
    F. Mariani, CRES, Proc. AICA Annual congress (Italy), 1988.Google Scholar
  3. 3.
    S. Pinson, SEAC, in: Economics and AI, J. Roos (Ed.), Pergamon Press, 1986, pp. 153-158.Google Scholar
  4. 4.
    Syntelligence’s insurance and bank advisors, Expert system strategies, April 1987.Google Scholar
  5. 5.
    E. Mays, Organizing knowledge in a complex financial domain, IEEE Expert, Vol. 2, no 3, Fall 1987, pp. 61–70.CrossRefGoogle Scholar
  6. 6.
    G. Wanet, Proc. 1st Symp. AI and expert systems, Berlin, 18-22 May 1987Google Scholar
  7. 7.
    Texas Instruments AI Letter, Vol. 3, no 12, Dec. 1987.Google Scholar
  8. 8.
    TIPI, Expert system user J., Vol.3, no 2, May 1987, pp. 20-23Google Scholar
  9. 9.
    L.F. Pau, T. Tambo, Knowledge-based mortgage loan credit granting, J. of economic dynamics and control, Spring 1990.Google Scholar
  10. 10.
    M.A. Bramer (Ed.), R&D in expert systems, Cambridge Univ.Press, 1985Google Scholar
  11. 11.
    M. Charpin, Proc.Conf. Gottlieb Duttweiler Institute, Rueschlikon, 25-26/4/1986, pp. 159 ff.Google Scholar
  12. 12.
    R.T. Chang, IEEE Conf. software tools, 15-17 April 1985, IEEE Computer society press, pp. 57-64Google Scholar
  13. 13.
    F. Rechenmann, Proc. Avignon Expert systems Conf., EC2 Publ., 1987, pp. 949 ff.Google Scholar
  14. 14.
    Proc. Avignon Expert systems Conf., EC2 Publ., 1985.Google Scholar
  15. 15.
    Proc. SGAICO Symp. Commercial expert systems in banking and insurance, Lugano, 2-3 May 1989.Google Scholar
  16. 16.
    La Lettre de l’intelligence artificielle, no 38, May 1988, pp. 8-12.Google Scholar
  17. 17.
    Expert system user J., Vol.3, no 7, Oct. 1987, pp. 5 ff.Google Scholar
  18. 18.
    R. Reiter, FX, Proc. 2nd Expert systems Conf., Learned Information Publ., London, 1986, pp. 275–276.Google Scholar
  19. 19.
    Les systemes experts et 1a banque, Banque et informatique, no 32 and no 33,1987.Google Scholar
  20. 20.
    L. F. Pau, J. Motiwalla, Y.H. Pao (Eds.), Expert systems in economics, banking and management, North Holland, Amsterdam 1989.Google Scholar
  21. 21.
    Bank’ AI 1988, SWIFT, London, 22-24 March 1988.Google Scholar
  22. 22.
    J. Cuena, Proc. Avignon Expert systems Conf., EC2 Publ., 1987, pp. 981 ff.Google Scholar
  23. 23.
    A. Beerel, in: The use of expert systems in finance, London Press center, 24 Nov. 1986Google Scholar
  24. 24.
    P. Makowski, Credit scoring branches out, Credit management J., March 1987, pp. 26-31Google Scholar
  25. 25.
    C. Carter, J. Catlett, Assessing credit card applications using machine learning, IEEE Expert, Vol. 2, no 3, Fall 1987, pp. 71–79.CrossRefGoogle Scholar
  26. 26.
    Proc.Gottlieb Duttweiler Inst., Lugano, 6-7 June 1988Google Scholar
  27. 27.
    P. Kelly, Expert systems using shells, Data processing (GB), Vol. 28, no 3, pp. 139–140.Google Scholar
  28. 28.
    Symbolics Inc., 1989 Annual ReportGoogle Scholar
  29. 29.
    Expert systems J., Vol. l, no 1, July 1984, pp. 9 ffGoogle Scholar
  30. 30.
    Electronics, May 1989, pp. 43-47.Google Scholar
  31. 31.
    S. Dutra, P.P. Bonissone, MARS, to appear in: Computer Science in economics and management J., 1990.Google Scholar
  32. 32.
    J.L. Stansfield, PlanPower, IEEE Expert, Vol. 2, no 3, Fall 1987, pp. 51–60.CrossRefGoogle Scholar
  33. 33.
    P.R. Cohen, Proc. 8th Int. Joint Conf. on Art. Int., 1983, pp. 212 ff.Google Scholar
  34. 34.
    Memo B, Sonderf. bereich 314, Uni. Saarlandes, Nov. 1985.Google Scholar
  35. 35.
    Expert Systems J., 1, 2, Oct. 1984, pp. 102 ff.Google Scholar
  36. 36.
    J.J. McCormick, Expert systems, Information-WEEK, no 167, 2 May 1988, pp. 24-26Google Scholar
  37. 37.
    J. Bachern, EVA: Experten zur Vermoegensanlageberatung, Gabler, Wiesbaden, 1987.Google Scholar
  38. 38.
    Machine intelligence news, Vol. 4, no 9, June 1988, pp. 9 ffGoogle Scholar
  39. 39.
    D. Leinweber, Knowledge-based systems for financial applications, IEEE Expert, Vol. 3, no 3, Fall 1988, pp. 18–31.CrossRefGoogle Scholar
  40. 40.
    C. Lassez, Constraint logic programming and option trading, IEEE Expert, Vol. 2, no 3, Fall 1987, pp. 42–50.CrossRefGoogle Scholar
  41. 41.
    B. Clarke, A KBS interface usable in the hectic stockmarket trading environment, Alvey SIG on intelligent interfaces, Alvey Dir., Oct. 1986, pp. 43-58.Google Scholar
  42. 42.
    Wall St. Transcript, Vol. C, no 2, 11 April 1988, p. 89-113.Google Scholar
  43. 43.
    C. Snyder, From research to reality, Insurance software review, 12, 3, 22-24/26-27/30.Google Scholar
  44. 44.
    La Lettre de l’ intelligence artificielle, no 53, Oct. 1989, p.7.Google Scholar
  45. 45.
    A.R. Buttler, Expert systems for insurance, Proc.3rd Int.Expert syst. conf., 2-4 June 1987, Learned Information Publ., Oxford, pp. 173-182.Google Scholar
  46. 46.
    P.M. Howman, Freeing underwriters for the tough jobs, Best’s Review Life/Health ins., 89, 7, pp. 54–56.Google Scholar
  47. 47.
    R.O. Duda et al., Syntel, IEEE Expert, Vol. 2, no 3, Fall 1987, pp. 18–32.CrossRefGoogle Scholar
  48. 48.
    AI Week, 1 April 1988, pp. 5 ff.Google Scholar
  49. 49.
    J. Baldwin, J. Inf. Mgt. (USA), 8, 1, Winter 1987, pp. 13-22.Google Scholar
  50. 50.
    R. Parker, An expert system for every office, Computer design, Fall 1983, pp. 37-46.Google Scholar
  51. 51.
    Expert system user J., Oct. 1987, pp. 6 ff.Google Scholar
  52. 52.
    D. Shpilberg, L.E. Graham, H. Schatz, ExperTAX: an expert system for corporate tax planning, Expert Systems, Vol. 3, no 3, 1986, pp. 136–151.Google Scholar
  53. 53.
    R.H. Michaelsen, An expert system for federal tax planning, Expert System J., Vol. 1, no 2, 1984, pp. 149 ffCrossRefGoogle Scholar
  54. 54.
    U. Guentzer, Informatik Fachberichte 112, Eds. W. Brauer & B. Radig, Berlin, 1985.Google Scholar
  55. 55.
    B. Rustern (Ed.), Dynamic modelling and control of national economies, IFAC Proc., Pergamon Press, 1989.Google Scholar
  56. 56.
    T. Tambo, Ekspertsystem i gjenforsikring, EMI, Tech. Univ. Denmark, Feb. 1989.Google Scholar
  57. 57.
    Proc. IAAI-90, Washington DC, 01-03 May 1990.Google Scholar
  58. 58.
    Chemical Bank develops foreign trading ES, AI Week, Sept.15,1988, pp. 8-9.Google Scholar

Copyright information

© Springer-Verlag Berlin · Heidelberg 1990

Authors and Affiliations

  • Louis F. Pau
    • 1
  • Claudio Gianotti
    • 2
  1. 1.Technical University of DenmarkLyngbyDenmark
  2. 2.MilanoItaly

Personalised recommendations