IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/21126_15.html
   My bibliography  Save this book chapter

Artificial intelligence in financial decision-making

In: Handbook of Financial Decision Making

Author

Listed:
  • Allen H. Huang
  • Haifeng You

Abstract

Artificial intelligence (AI), powered by machine learning algorithms, is capable of extracting information efficiently from big data and, therefore, has great potential for improving financial decision-making. In this chapter, we summarize several important applications of AI in this context. First, we review AI algorithms that extract information from unstructured data, with a focus on natural language processing algorithms. Next, we discuss how AI extracts and aggregates information from unstructured and structured data so as to facilitate financial decisions such as investment and FinTech lending. Lastly, we discuss the complementary roles of AI and humans in improving financial decision-making.

Suggested Citation

  • Allen H. Huang & Haifeng You, 2023. "Artificial intelligence in financial decision-making," Chapters, in: Gilles Hilary & David McLean (ed.), Handbook of Financial Decision Making, chapter 15, pages 315-335, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21126_15
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/doi/10.4337/9781802204179.00029
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:21126_15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.