Prateek Shukla
Master of Finance Class of 2019
Prateek is a Master of Finance Student at Frankfurt School....
Master of Finance

When Machines Talk: Machine Learning and Analytics permeate into the finance market

April 9, 2018
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Machine Learning has a very simple definition but its application can literally be a game-changer for many companies. With the advent of the blockchain, artificial intelligence and data analytics technologies, smart application demand is now burgeoning in every industry. Now imagine a computer doing your manual task for you and even providing you with suggestions. Interested? Even if you’re not, the industries are and it’s bound to affect you sooner or later

You have already seen Machine Learning and Artificial Intelligence (AI) penetrating into your daily lives. From Facebook and Instagram recommendations, Google AdSense, travel optimizers, home AI applications to internet banking wallets. The society that started with inventing the wheel and fire has now evolved to command objects to get things done without any human intervention whatsoever.

With large corporations seeking new path-breaking innovations to reduce cost and increase profit margins, companies are now aggressively investing time, money and effort into developing tools by integrating available technology platforms and applications and tailoring it to the needs of their clients. When it comes to aligning with their client’s needs, the Big 4 are never shy about taking up the challenge.

During my internship with Deloitte in the winter, I realized how easily the technology niche is integrating with the requirement of Financial Services. For instance, of the company’s risk Advisory division has people not only with a good financial background but also a skilled understanding of programming. As an intern, I delivered applications using SAP machine learning technologies; one of them analyzed historical cashflows to predict the future behavior.

Why should this be interesting for a finance professional? Pick any big name in investment banking, especially those that hold a strong reputation in trading, quantitative research and risk management. You will find them investing a good amount in technology – particularly in integrating blockchain, machine learning and analytics. Having just a month of experience working with these technologies provided me with a good conversation starter in my recent successful interview with J.P. Morgan for their CIB services. Although I will not be working in the technology domain, it does become a unique skill to show considering that only few finance graduates can reinforce such skills with experience.

The ship hasn’t sailed yet! Opportunities to learn are abundant. The Frankfurt School Master of Finance is offering a new Data Analytics and Machine Learning course, so let’s continue to develop and let the machines handle the rest!

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