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Extract from AI in Financial Portfolio Management: Practical Considerations and Use Cases in the Book Innovative Technology at the Interface of Finance and Operations (Springer)
This paper focuses broadly on the application of various types of AI technology in the buy-side of financial services and more specifically on the application of AI to financial portfolio management. Current market volatility in response to the COVID-19 pandemic has given new urgency to the perennial challenge of achieving quality investment returns, and the ever-present trade-off between return and risk that all portfolio managers have to master. The complexity and volume of relevant information today, and the rate of change in the current environment, have only heightened the need for smarter financial choices. Various types of AI may be used to respectively achieve higher portfolio returns, increase operational efficiency, and enhance the customer experience. Successful AI usage will always involve an optimum mix of machine-provided and human-based services, where the AI enhances and accelerates human portfolio decision-making and saves labor costs.
Joseph Byrum is an accomplished executive leader, innovator, and cross-domain strategist with a proven track record of success across multiple industries. With a diverse background spanning biotech, finance, and data science, he has earned over 50 patents that have collectively generated more than $1 billion in revenue. Dr. Byrum’s groundbreaking contributions have been recognized with prestigious honors, including the INFORMS Franz Edelman Prize and the ANA Genius Award. His vision of the “intelligent enterprise” blends his scientific expertise with business acumen to help Fortune 500 companies transform their operations through his signature approach: “Unlearn, Transform, Reinvent.” Dr. Byrum earned a PhD in genetics from Iowa State University and an MBA from the Stephen M. Ross School of Business, University of Michigan.
