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May 30, 2023

Westminster’s FinTech masters can help students stay ahead of the AI curve

University of WestminsterThe FinTech with Business Analytics MSc at the University of Westminster is the ideal course to keep students ahead of the latest developments in Artificial Intelligence (AI).

Covid-19 has transformed the world, possibly forever. With this change brings opportunity, and FinTech has the potential to be part of a brighter future. With widespread issues in economies across the globe, consumers have shifted activities online. Evolution is underway in the FinTech industry, currently the 4th Industrial revolution (IR) with the 5th IR on its way. We are entering a new world with ChatGPT and other AI capabilities, and fund managers are exploring how to generate money with this new technology.

In this 4th IR, our expected use of AI in FinTech will not replace human expertise. Technology advancements such as ChatGPT and large cloud-based computing using AI, will automate routine processes and retrieve vast amounts of data for efficient and timely analysis for trading. AI algorithms and data analytics management will enable wealth managers to achieve profitable investments by creating and managing even smarter investment portfolios.

The building blocks of this technology infrastructure are Artificial Intelligence (AI), Blockchain (B), Cloud Computing (C) and Data (D), or ABCD. B & C form the backbone of this infrastructure, while A & D offer tremendous potential for smart investment portfolios. The challenge in education is to understand and develop novel applications of AI. The use of predictive analytics and complex algorithms can extract valuable financial insights from a variety of big data sources. This data, which exists in a variety of forms, namely: alternative, unstructured and structured, is systematically processed to provide insights.

While FinTech offers great potential, few fund managers have adopted these technologies. The lure of exceptional returns from investments is offset by the additional cost, complexity of data management, and the expertise required to apply FinTech. Employment opportunities in finance and banking are in high demand if employees can develop effective machine learning algorithms, to recognise patterns that signal financial benefits.

The Covid-19 pandemic has ushered in a new era of technological innovation in financial services. As a CISI Centre of Excellence in Financial Markets and CFA Institute University Affiliated Program partner, the FinTech with Business Analytics MSc at the University of Westminster can help you stay ahead of the game.

To find out more about this and other courses, visit westminster.ac.uk.

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Content added on 30th May 2023. 

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