We often hear that the opportunities for financial services companies from artificial intelligence (AI) and machine learning (ML) are boundless. It will reduce cost, improve the product and drive customer engagement. But few practical examples are offered.

Over the last year Bravura has been exploring new ways of developing and analysing the latest in technology through an Innovation Lab – a space dedicated to finding exciting answers to new challenges. Bravura firmly believe that increasing our collective ability to innovate as an industry, is critical to ensuring success and delivering best-of-breed services to customers.

Our vision for our own products and services is to create and deliver modern, open, agile business solutions that provide an enduring competitive advantage to clients by combining compelling functionality with modern technology.

With this vision in mind, we brought together a group of industry experts from platforms, asset management and financial advice, to explore specific opportunities and challenges for artificial intelligence and machine learning to help guide the thinking of our Innovation Lab. In this paper we share some of the highlights from the discussion and our thoughts on the opportunities for our customers from AI.

At Bravura, we have established a data science practice that can help firms implement machine learning. We believe that machine learning can be used by firms large and small in many areas, from remodelling operations through to revamping the customer experience.

I would like to thank our participants for taking part in the roundtable and myself and the Bravura team welcome any questions, challenges or feedback you might have on artificial intelligence and machine learning, or on other areas of technological innovation.

About the author

Simon Clare

Global Chief Technology Officer

Based in London, Simon is the Global Chief Technology Officer for Bravura Solutions. He is responsible for managing Bravura’s technical product roadmap and identifying how emerging technologies impact the wealth management and savings industry, particularly the technical and ethical questions surrounding the use of machine learning in financial services. Simon has an academic background in software engineering and mathematics. His career has primarily been spent in financial services, with experience in software development, solution architecture, product management and strategy. He has been with Bravura since May 2013.

More Insights