AI News, 5 Artificial Intelligence Companies To Invest Stock In For 2019 artificial intelligence

AI and the bottom line: 15 examples of artificial intelligence in finance

If there's one technology that's paying dividends, it's AI in finance. Artificial intelligence has given the world of banking and the financial industry as a whole a way to meet the demands of customers who want smarter, more convenient, safer ways to access, spend, save and invest their money.

A recent study found 77% of consumers preferred paying with a debit or credit card compared to only 12% who favored cash. But easier payment options isn't the only reason the availability of credit is important to consumers.  Having good credit aids in receiving favorable financing options, landing jobs and renting an apartment, to name a few examples. With so many of life's important necessities hinging on credit history, the approval process for loans and cards is more important than ever.

Artificial intelligence solutions are helping banks and credit lenders make smarter underwriting decisions by utilizing a variety of factors that more accurately assess traditionally underserved borrowers, like millennials, in the credit decision making process.  Here are a few examples of companies helping the financial industry rethink the underwriting process.   

ZAML is an end-to-end platform that institutions can implement and scale quickly.  Industry impact: Auto lenders using machine-learning underwriting cut losses by 23% annually, more accurately predicted risk and reduced losses by more than 25%, according to ZestFinance.

Currently scoring over 100 million customers, Scienaptic's Ether connects myriad unstructured and structured data, smartly transforms the data, learns from each interaction and offers contextual underwriting intelligence.  Industry impact: Working with one major credit card company, Scienaptic boasted $151 million in loss savings in just three weeks.   

Time is money in the finance world, but risk can be deadly if not given the proper attention. Accurate forecasts predictions are crucial to both the speed and protection of of many businesses.   Financial markets are turning more and more to machine learning, a subset of artificial intelligence, to create more exacting, nimble models. These predictions help financial experts utilize existing data to pinpoint trends, identify risks, conserve manpower and ensure better information for future planning.

Industry impact: Traders with access to Kensho's AI-powered database in the days following Brexit used the information to quickly predict an extended drop in the British pound, according to a 2017 Forbes article.  In March 2018, S&P Global announced a deal to acquire Kensho for roughly $550 million.  View Jobs + Learn More  

Additionally, 41% are 'very willing' to use computer-generated banking advice.  AI assistants, such as chatbots, use artificial intelligence to generate personalized financial advice and natural language processing to provide instant, self-help customer service.  Here are a few examples of companies using AI to learn from customers and create a better banking experience.   

Shape Security's Blackfish network also uses AI-enabled bots to detect compromised login credentials, alerting both customers and companies to security breaches instantly.  Industry impact: Shape's solutions have helped one major bank protect customers from account highjacking and detected one million credential stuffing attacks in the first week of use, according to information provided on the company's website.   

Industry impact: In a highlighted case study on the company's website, global financial software firm Ipreo deployed Darktrace to protect its customers from sophisticated cyber attacks. Ipreo saw immediate results in real-time threat detection and defense against internal and external threats.   

Vectra's platform automates threat detection, reveals hidden attackers specifically targeting financial institutions, accelerates investigations after incidents, and even identifies compromised information.  Industry impact: A Vectra case study provides an overview of its work to help a prominent securities exchange prevent malware attacks.

15 Launched and Upcoming IPOs to Watch in 2019

The 2019 IPO calendar has been packed with unicorns — Wall Street’s term for a fast-growing startup company that’s valued at over $1 billion.

Remember, if it’s a solid business and you’re investing for long-term growth (a strategy we wholeheartedly recommend), you don’t have to be first in line to buy.

Some key hires, including an Amazon veteran to serve as the company’s chief financial officer, seemed to signal that the home-sharing matchmaker was tidying up to go public later this year.

Though the latest buzz indicates the company may not IPO in 2019 after all, Airbnb continues to expand beyond spare bedrooms, basement apartments and second-home rentals.

But local lodging and short-term rental regulations in the U.S. and abroad continue to keep the company’s lawyers and public relations team up at night.

Talk about a first-day IPO pop: The share price of the plant-based meat company nearly tripled in its initial day of trading in May, making it one of the best-performing IPOs for a company its size since 2000.

This e-tailer focused solely on pet products IPOed on the New York Stock Exchange on June 14 at an offering price of $22 and closed the day at $34.99, a share price increase of 59%.

If shareholder rights are high on your priority list, consider that the company will have a dual-class share structure, which means Class A shares get one vote and Class B shares (those owned by insiders and existing stockholders) carry 10 votes each.

That dual-class structure also means Chewy is ineligible to be included in the major indices, like the S&P 500, or any mutual funds or exchange-traded funds that passively track them.

The company makes money by earning interest on customer cash balances, charging for a margin-trading service and taking rebates from market makers and trading venues.

This nontraditional strategy means the company doesn’t issue new shares of stock — rather, company insiders can sell their existing stock directly to new investors.

The company sells pre-owned luxury goods — a curated selection of apparel, accessories, jewelry, watches, art and other home goods — on consignment online and in a handful of retail stores.

The company recently attained unicorn status with a valuation just over $1 billion, according to the Prime Unicorn Index, which measures the performance of private U.S. companies valued at $500 million or more.

The rebranded name reflects the company’s expanding business scope beyond shared office space (WeWork) into flexible residential rentals (WeLive) and education (WeGrow).

(See how to buy WeWork stock when it goes on the market.) With a valuation of $82 billion, rideshare app Uber was one of the biggest tech IPOs ever — and one of the most hotly anticipated offerings of 2019.

(See how to buy Uber stock.) This cloud-based videoconferencing company didn’t attract as much attention as other tech IPOs in the famed Class of 2019 when it went public in April, despite being one of the few profitable companies on the roster.

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