AI & ML in Finance | Tansel Ersavas
AI and ML is no longer a futuristic ideal within the financial ecosystem. With the onset of Covid-19, organisations around the world have had to expedite their digital transformation programs to cater for the changes in consumer behaviour. We chatted to Tansel and see what he had to say...
Finance is one of the most conservative industries in the world, however pressure for change is immense. A lot of the pressure is coming from new fintech disruptors, massive amount of data flow, the new digital money and digital economy, and increase in fraudulent activities. Advances in Natural Language Processing and abnormality detection are helping institutions to address problems that would have been very difficult to address a few years ago. One of the best examples I have helped developing was a massive multi agent simulation simulating tens of thousands of employees and millions of clients to reduce error and fraud and improve performance.
Reinforcement learning, Generative Adversarial Networks and Transformers have all been very impressive. For anyone who is interested in how some of these technologies can be synergistically used in a very hard real world problem I recommend watching Tesla AI Day.
Data is described as the “new oil” by Clive Humby and recently this has proven correct. Information that comes from clients, environment and the feedback from the inside of the company is like the nervous system of an organism and only the companies that can quickly respond to this information will thrive.
Robotics and AI have long been separate disciplines with little interaction. Their combination will revolutionise almost every aspect of our lives. The biggest changes will come from fusion of technologies such as neuroscience and AI. Technologies such as Cloud and Edge computing, Internet of Things, wearables, sensors will start to be used together and these will impact everything from health to environment.
I miss reading books and envy people who have time to as recently I haven’t had the luxury to but I when I do have time I enjoy Yuval Noah Harari, Max Tegmark, Chris Mason. I mostly follow scientific publications and especially preprints, ResearchGate and relevant channels in social media platforms
Tansel Ersavas is a computer scientist specialised in complex systems and AI and he is currently working here at Sandstone within our OAM business unit. Tansel worked around the globe in various industries and mastered a wide range of languages, systems, object and persistence engines. Some of his areas of focus are deep learning, fuzzy logic, genetic algorithms and distributed mobile computing. He also helped development of open source tools for teaching children how to develop complex systems. Tansel has been invited to several international conferences as an industry expert and a speaker, or to run tutorials and workshops. He is a reviewer for ACM’s computingreviews.com and served as a reviewer for Cambridge University Press.