Skip to main content

TIPS FROM TOP : "AI in Finance" by Mr Vikram singh, Account Director - L&T Financial Services

We were graced with the presence of Mr Vikram Singh on 20th January’19
Account Director - L&T Financial Services, for a corporate seminar at the IME Department. He has over ten years of experience in Banking, capital markets, treasury management and private equity funds in esteemed organisations like HDFC Bank and Reliance Capital.

He kicks started with the seminar with the introduction to every student of MBA-IIT Kanpur. His interest developed into AI with investments in technological start-ups. Mr Vikram Singh first focused on how AI is soon going to a General-purpose-Technology and touched upon the recent developments in the field of AI.

His examples about firms like Fincorp showed how AI is exploding in the field of finance. AI has increased risk management, helped in agile growth with the development of Deep Learning and Machine Learning. Chatbots being used by various banks are incredibly useful, e.g., Eva for HDFC.  Paypal is using deep learning technology. Many AI trading software has come up to strengthen financial prediction by using Bayesian Networks and Evolutionary computations. Many financial firms are using data analytics tools like Kensho in this present era.

Scope for digital wealth management is also growing in the finance sectors, especially the use of Robo Advisory. It provides an automated algorithm based portfolio management advice for managing investments. With combining customer needs and their information, it gives the solution in seconds. It offers automated reinvestments, direct plans, goal-based advisory, and full-service advice. 5inance is one such online platform that has a massive scope in future of personal finance and wealth management.

Although there are numerous proponents of AI, there are still researches that underline the importance of human intervention and AI can never be fully independent. The use of AI provides us with some opportunities with trade-off because of its disadvantages.

We are extremely thankful to Mr Vikram Singh for giving us his precious time and sharing his knowledge with us.


Popular posts from this blog

Reflexions'19 - A Reflection on "Tackling challenges of the VUCA World" !!

The Department of Industrial Management and Engineering, IIT Kanpur presented the flagship event of Prabandhan – Reflexions on Sept 28th, 2019. The 3rd edition of the event on ‘Tackling challenges of the VUCA world' was concluded with a promising and on a cheerful note. With thunderous applause and riveting questions, the event opened to bridge the corporate world with the real world. Reflexions 3.0 saw the participation of 6 eminent industry leaders and management gurus to share their experiences from their respective trades. They were Karan Marwah, Partner – CFO, Advisory Services, KPMG, Harshavardhan Chauhan, Head-Marketing & digital transformation, DLF Shopping Mall, Neelesh Talathi, CFO, Pepperfry, Hari T N, CHRO, Big Basket, Raj Gupta, General Manager, HR, TCS and our very own Professor, Devlina Chatterjee, Managerial Economics, Applied Econometrics. The talk focused on "How well, can the industries predict the results of their actions in a world of Volatility, Unc

An Introduction to the batch of 2019-21

“ It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. "                                   A new zeal, vigour, and an unquenchable thirst for proving oneself is what describes MBA batch of 2019-21. 52 of us set foot on the pavement of a new journey and needless to say it has been unprecedented. Be it the early morning presentations, the stark midnight deadlines, or the never-ending case studies covering the gamut of concepts and context, each one of these activities can vouch for it. It has hardly been a month, yet the batch has acclimatized well with the life of one the most coveted institutes in the country, IIT Kanpur. For most of us, this is the desired path, and for the rest, it is an opportunity to relive their school days. Since we are in a place that has no norm and instead offers endless diversity, there will always be something that entertains and challenges us. It is time we took this op

Mr. Praveen Tripathi, CEO of Magic 9 (Media and Analytic)

Mr Praveen Tripathi began the seminar by giving a brief introduction about the classification of households in India. Sir mentioned about the New Consumer Classification System (NCCS) in which there are 12 grades of classification varying from A1, A2, A3, B1, B2, C1, C2, D1, D2, D3, E1, E2, and E3. He contrasted it with the old classification system in which there were 8 grades only. The basic theme behind all this classification is the life score which is assigned to all the households. Life score is calculated based on the education of chief owner and consumer durable. And the discrimination is measured by the Larenz Curve and Gini coefficient. The major drawback of this system as mentioned by sir was that the consumer durable penetration changes faster than education or occupation level. “Inside every transaction there is a knowledge, you need to decode it.” With this quote sir gave a brief about television audience metrics in India which started with Doordarshan Audien