Many financial firms already employ AI systems to handle a number of complex decision-making processes — from trading to loan underwriting. Since the late 70s, investors have utilized algorithmic trading, also called automated trading systems, to inform their decisions on when to buy and sell stocks. Much has changed in the last four decades, but these systems still combine predictive analytics and machine learning to handle thousands of trades every day in a process called high-frequency trading.
AI has also found its way into medical facilities worldwide. As more healthcare providers transition to digital record-keeping, the amount of medical data available for analysis has grown exponentially. Doctors now leverage data and artificial intelligence to inform patient diagnosis, prognosis, and treatment options. Memorial Sloan Kettering’s oncology department recently used AI to merge their data on cancer patients in order to narrow down a limitless list of potential treatments to a few good options for clinicians everywhere.