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Hur påverkas kapitalförvaltning och finansiell rådgivning av Artificiell Intelligens?: En studie om de möjligheter dagens aktörer står inför
Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
2018 (Swedish)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesisAlternative title
How does Artificial Intelligence affect asset management and financial advisory? : A study about the opportunities today’s players are facing (English)
Abstract [sv]

Bakgrund: Artificiell Intelligens (AI) och maskininlärning implementeras i allt större grad på de finansiella marknaderna världen över. Syftet med implementeringen av AI inom finanssektorn innefattar bland annat kostnadsminimering, effektivisering, reducering av mänsklig bias samt ökning av intäkter för företagens verksamheter. Inom finansiell rådgivning och kapitalförvaltning finns brister gällande oberoende, kostnader, bias samt effektivisering varför det är relevant att undersöka hur dessa områden kan effektiviseras och förbättras med hjälp av AI. Vidare är det av intresse att undersöka hur människans roll kan komma att påverkas.

Syfte: Syftet med denna studie är att analysera hur kapitalförvaltning och finansiell rådgivning kan påverkas av implementeringen av AI och hur synen på AI är inom dessa två områden.

Metod: Studien är utformad utifrån en kvalitativ flerfallstudiedesign. Studiens empiriska material har samlats in från respondenter i två olika urvalsgrupper: kapitalförvaltare och finansiella rådgivare. Data har insamlats genom sju semistrukturerade intervjuer.

Slutsats: Studiens resultat visar att AI har stor potential att reducera inslag av bias inom rådgivning och kapitalförvaltning. Styrkan i AI-lösningar återfinns i kombinationen av mänsklig intelligens och Artificiell Intelligens. Vidare står det klart att implementering av AI kan bidra till effektivare datahantering, kostnadshantering samt stordriftsfördelar. Implementeringen skapar möjligheter till ökad kundnytta samt en utökad kundgrupp. Vidare visar studiens resultat att AI har potential att minska intressekonflikter i form av Agency Theory. Slutligen visar studiens resultat att den framtida rådgivningen och kapitalförvaltningen sannolikt kommer ha inslag av cyborg finance, en samverkan mellan Artificiell Intelligens och mänsklig intelligens i form av hybridtjänster där de bästa egenskaperna från bådadera förenas.

Nyckelord: Artificiell Intelligens, kapitalförvaltning, finansiell rådgivning, maskininlärning, djupinlärning, automatisering, psykologisk bias.

Abstract [en]

Background: Artificial Intelligence (AI) and machine learning are increasingly being implemented within the financial markets. The purpose of Artificial Iintelligence is to reduce costs, increase profits as well as efficiency and also reduce human bias. Within finacial advisory and asset management there are problems with independence, costs, bias and efficiency. Our study aims to analyse how these areas can be improved and become more efficient with AI. In addition, it is interesting to study what role the human is likely to take on as AI is increasingly being implemented.

Aim: The purpose of this study is to analyse how AI can affect asset management and financial advisory, and also to study the public opinion of this transformation.

Methodology:  This study has been designed by a qualitative research strategy. The empirical data derives from two different respondent groups: asset management and financial advisory. The data has been collected through seven semi-structured interviews.                                                                                                                                                  Conclusion: The result of this study indicates that AI has the potential to reduce biases within financial advisory and asset management. The strength of AI-solutions lies in the combination between Artificial Intelligence and human intelligence. Furthermore, an implementation of AI contributes to a higher efficiency when it comes to data handling, cost efficiency as well as economies of scale. This creates opportunities to reach a higher customer benefit and a wider customer group. Moreover, the study indicates that AI has the potential of reducing conflicts of interest and agency problems. Lastly, this study indicates that the future of financial advisory and asset management is likely to consist of cyborg finance. In other words, cooperation between Artificial Intelligence and human intelligence is likely to become commonplace, in the shape of hybrid services where the best attributes of humans and AI work together.

Keywords: Artificial Intelligence, asset management, financial advisory, machine learning, deep learning, automation, psychological bias

Place, publisher, year, edition, pages
2018. , p. 105
Keywords [en]
Artificial Intelligence, asset management, financial advisory, machine learning, deep learning, automation, psychological bias
Keywords [sv]
Artificiell Intelligens, kapitalförvaltning, finansiell rådgivning, maskininlärning, djupinlärning, automatisering, psykologisk bias
National Category
Business Administration
Identifiers
URN: urn:nbn:se:liu:diva-148425ISRN: LIU-IEI-FIL-A--18/02774--SEOAI: oai:DiVA.org:liu-148425DiVA, id: diva2:1222420
Subject / course
Master Thesis in International Business and Economics Programme (Business Administration); Master Thesis in Business and Economics Programme (Business Administration)
Presentation
2018-06-04, T19 (Hus C), Linköpings Universitet, Linköping, 17:00 (Swedish)
Supervisors
Examiners
Available from: 2018-09-04 Created: 2018-06-21 Last updated: 2018-09-04Bibliographically approved

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