Friday, August 14, 2020

The looming effect of machine learning on global finance

 

Scott Tominaga, CEO of PartnersAdmin LLC, has always believed that technology plays a major role in the state of global finance. Several tech advancements throughout human history have shaped the financial standing of countries, businesses, and people everywhere. 

Image source: Forbes.com   

Image source: IE.edu 

  
For today’s blog, Scott Tominaga explores a fascinating technology that once was only seen in science fiction movies and featured in science fiction novels. This tech is called “machine learning.”

If the name did not give it away, machine learning is probably one of the earliest forms of artificial intelligence that the world will ever know. At its most basic, machine learning is a series of computer programs that come to forecasts and conclusions through the utilization of tried and tested statistical models.

What does machine learning hold for global finance?

For starters, machine learning analyzes statistics and can now create financial portfolios on an incredibly large scale. Combining machine learning’s objectivity and the intuition and experience of financial advisors, clients have a lot to look forward to, Scott Tominaga explains.

Furthermore, machine learning can enhance cybersecurity, alerting banks, businesses, governments, and people of impending frauds and scams by spotting anomalies in transactions.

However, what Scott Tominaga is most looking forward to with machine learning is its ability to see trends in global finance faster and more accurately than ever before.

Scott Tominaga is a professional in the hedge fund and financial services industry. He has been responsible for all aspects of back office operations on a daily basis, including investor relations and marketing. Visit this page for more on Scott and his work.