AI in finance

Artificial intelligence is transforming the financial industry at breakneck speed:

Where AI is already used today:

• Robo-advisors: algorithms manage ETF portfolios automatically (Scalable, Quirion)
• Fraud detection: AI spots suspicious transactions in real time (saving banks billions)
• Lending: algorithms assess creditworthiness faster and sometimes more fairly than humans
• Customer service: chatbots answer simple banking questions 24/7
• High-frequency trading: AI algorithms trade shares in milliseconds

For private investors: AI makes good investing cheaper and more accessible. A robo-advisor costs 0.3–0.9% per year – a human adviser 1–2%. But: AI can't predict crises or offer emotional support.