TY - GEN
T1 - Artificial Intelligence for the Financial Services Industry: What Challenges Organizations to Succeed?
AU - Kruse, Luisa
AU - Wunderlich, Nico
AU - Beck, Roman
N1 - ISBN: 978-0-9981331-2-6
PY - 2019
Y1 - 2019
N2 - As a research field, artificial intelligence (AI) exists for several years. More recently, technological breakthroughs, coupled with the fast availability of data, have brought AI closer to commercial use. Internet giants such as Google, Amazon, Apple or Facebook invest significantly into AI, thereby underlining its relevance for business models worldwide. For the highly data driven finance industry, AI is of intensive interest within pilot projects, still, few AI applications have been implemented so far. This study analyzes drivers and inhibitors of a successful AI application in the finance industry based on panel data comprising 22 semi-structured interviews with experts in AI in finance. As theoretical lens, we structured our results using the TOE framework. Guidelines for applying AI successfully reveal AI-specific role models and process competencies as crucial, before trained algorithms will have reached a quality level on which AI applications will operate without human intervention and moral concerns.
AB - As a research field, artificial intelligence (AI) exists for several years. More recently, technological breakthroughs, coupled with the fast availability of data, have brought AI closer to commercial use. Internet giants such as Google, Amazon, Apple or Facebook invest significantly into AI, thereby underlining its relevance for business models worldwide. For the highly data driven finance industry, AI is of intensive interest within pilot projects, still, few AI applications have been implemented so far. This study analyzes drivers and inhibitors of a successful AI application in the finance industry based on panel data comprising 22 semi-structured interviews with experts in AI in finance. As theoretical lens, we structured our results using the TOE framework. Guidelines for applying AI successfully reveal AI-specific role models and process competencies as crucial, before trained algorithms will have reached a quality level on which AI applications will operate without human intervention and moral concerns.
U2 - http://hdl.handle.net/10125/60075
DO - http://hdl.handle.net/10125/60075
M3 - Conference article
SN - 1060-3425
SP - 6408
EP - 6417
JO - Proceedings of the Annual Hawaii International Conference on System Sciences
JF - Proceedings of the Annual Hawaii International Conference on System Sciences
ER -