Lately the AI, artificial intelligence, is becoming an increasingly important argument for many reasons. Most people are afraid that machines will overcome the humans and take control of the planet. But let’s just make clear this is not the case, or at least it will not happen this century.
Let’s also make clear that we didn’t invented yet any real AI, if we are reffering to the artificial intelligence as self aware algorithm. The AI we are speaking about is based on a deterministic mechanism improved by statistic data. This makes the AI behave in some kind of rational way even though it’s objectives are predetermined by a human programmer.
AI and finance are a very nice combination.
Finance is based on the exact principle the AI was implemented to work on. Analize data and build multiple models, choose the best option at any time based on the evolution of the situation. Allow it to control huge investments and it will non only be able to generate models but determine the effective evolution of the market itself.
Companies usually choose to have an hierarchic way of organizing the internal activities that built up the lifecycle of a new product before it gets on the market. At least this is the case of bigger companies that have a R&D department.
Management team >> Strategy >> Requirements
Technical team >> Technical Requirements
Design team >> Configuration
Test team >> Validation >> Implementation
Strategy >> Requirements >> Technical Requirements >> Configuration >> Validation >> Implementation
The management team determines the strategy based on the customers needs or more in general market data analysis. The technical team specifies technical requirements and asks the design team for most valid options in order to efficiently meet the goals. A test team will verify each choice and determine whether it must be changed of it can be integrated into the final product.
R&D usually doesn’t bring to an immediate profit but if well implemented is the best way to save the competitiveness of the company on long term.