As AI is moving forward the need for marketing in financial services is diminishing. Generative tools use computers and algorithms and are widely used within Financial Services. So why does that mean financial services marketers are doomed? AI does financial work by simply crunching thousands of data points, factoring in current constraints, predictive models for how things are going to change, and the individual’s goals. AI is making all decisions. Marketers are probably not going to start marketing to AI. More likely, marketers would shift focus to trying to influence the parameters humans input into the AI.  By providing an appropriate media mix to AI we can achieve goals within the budget. AIs are used by both consumers and the companies. Consumers will leverage AIs to optimize their lives and businesses will use AIs to create more personalized products and services. In this future, marketers will ultimately end up marketing to the AIs directly.Read more at : http://www.business2community.com/finance/will-ai-make-financial-services-marketing-obsolete-01855073#LExeE9rhBiBleQLc.97

Currently one of the state of the art algorithms in Machine Learning is Gradient Boosting Machine (GBM). GBM can be used for regression, based on decision trees as prediction models. In GBMs, the learning procedure consecutively fits new models to provide a more accurate estimate of the response variable. The principle idea behind this algorithm is to construct the new base-learners to be maximally correlated with the negative gradient of the loss function, associated with the whole ensemble. The loss functions applied can be arbitrary, but to give a better perception, if the error function is the classic squared-error loss, the learning procedure would result in consecutive error-fitting. Read more at: http://www.dataminingblog.com/