Artificial intelligence (AI) and Machine Learning is progressively changing the way the financial institutions are regulated and operated, by introducing applications allowing ease and time saving. In this Article we detail, first, how AI is transforming the financial ecosystem, particularly the adoption of machine learning in taking decisions and managing risk. The second section presents briefly, in a non-technical manner, the core machine learning techniques and some associated financial services. Finally we compared between the performance of a statistical model and a machine learning algorithm using real data from a Moroccan Bank by applying Logistic Regression and Random Forest. The results show that, in Credit Scoring, Random Forest Algorithm performs better than Logistic Regression on the studied datasets.
Volume 11 | 11-Special Issue