Artificial Intelligence and Big Data in Finance: Enhancing Investment Strategies and Client Insights in Wealth Management

Srinivasa Rao Challa

Abstract: The emergence of AI technologies in the finance industry has become increasingly prominent due to the growing prevalence of data. Recent advancement of AI technology and big data can notably improve efficiency in fund allocation and financial risk management, which eventually give rise to new opportunities for wealth management firms. The emergence of automatic trading has opened a new world for individuals with little financial investment ability. However, the wealth-management services that financial consulting companies offer still have high thresholds and fees, and are often not reachable by ordinary people. Startups of wealth management attempting to bridge the gap have emerged in China to provide services based on the normal users? credit data from e-commerce and network service providers. Nevertheless, the investment experts involved in the startups usually rely on prior knowledge and financial heuristics to go through their task instead of sophisticated intelligent methods. Advances in AI technologies such as automatic style recognition and natural language processing can allow machines to replace laborers to provide interactive services to customers. These technologies have the potentials to facilitate the subsequent work of finance and big data to bridge the gap by combining financial intelligence with AI in the construction of a financial brain, which refers to an inclusive intelligent toolbox supplying kinds of traditional professional financial services/quasi-financial services to meet the various financial needs of ordinary people. The security and reliability of making money that are as important as investment-style match, must remain at the forefront of consideration. Comprehensive analysis to weigh certain chosen intelligent and classic technologies should be exploited to construct models and products.

Keywords: AI-driven Investment Strategies, Big Data Analytics, Wealth Management Technology, Machine Learning in Finance, Client Insights, Predictive Analytics, Financial Data Modeling, Algorithmic Trading, Risk Management with AI, Personalized Financial Advice, Data-Driven Investment Decisions, Financial Forecasting, AI in Portfolio Management, Blockchain in Wealth Management, Customer Segmentation with Big Data