Imagine using Artificial Intelligence based Software in the place of using Spreadsheets of Excel to make huge calculations. The productivity of the individual increases manifold. There are a lot of other things you need to check out while you are planning to inculcate Artificial Intelligence in your investment banking career. Already many such applications are released in the market which works on Artificial Intelligence-based technologies for Investment Banking purposes.
- Customer Relationship
Already Customer Relationship Management applications are ruling the market. The major role of investment bankers would be to pull in a lot of clients to invest in the bank. For this, the investment bankers are already making use of the chatbots feature. To further revolutionize this, the investment bankers can make use of the even more sophisticated robots too have a conversation with the client in an even more elaborate manner. It is estimated that about 4000 sales roles in the investment banking sector would be replaced by Artificial Intelligence-based human robots. They can communicate just in the same manner as a human.
Artificial Intelligence is also based on the idea of a Predictive Model. This means that the computers can predict the future based on the historical data that has been fed into it. These predictions are used to make a variety of decisions. So, the investment bankers are into trading of bonds, securities, etc., They can show the performance of the equities and securities based on the past and can convince the clients to buy them. There are a lot of Investment Banking Course in Mumbai which teaches you the basics of trading if you are new to the field.
- Makes it more secure
Human beings are prone to make a lot of errors. When a machine is being employed to do the same job, then the number of errors that are bound to occur is way too less. When a human is dealing with way too many numbers, then he might make some calculation error. While all the data are machine fed, the calculation errors can be reduced. The Investment Banking Online Course helps one to understand the nuances of the profession.
- Changes the work profile
The basic role might disappear in the future which comprises repetitive tasks. Many tasks that an analyst does in an investment bank like data research which includes, segregating the data, structuring the data, and processing the data will be done by a machine that is wired using the Artificial Intelligence technology.
But new roles will appear on the horizon in the form of data analytics and big data programming. So, no longer those who are working in the finance sector can survive just with commerce skills alone, they need to equip themselves with tech skills as well to stay ahead of the curve.
These are some of the changes which Artificial Intelligence could do the jobs in the financial sector especially in the area of Investment Banking in the coming years. Though each deal requires different decision making, the major role can be covered using this.