Using Machine Learning and Artificial Intelligence Principles to Implement a Wealth Management System
Prarthana Mukherjee1, Prit Palan2, Mohan V Bonde3
1Prarthana Mukherjee*, Pursuing Bachelor of Engineering, Department Information Technology, Usha Mittal Institute of Technology, SNDT Women’s University, Mumbai, Maharashtra, India.
2Prit Palan, Pursuing Bachelor of Engineering, Department Information Technology, Usha Mittal Institute of Technology, SNDT Women’s University, Mumbai, Maharashtra, India.
3M. V. Bonde, Assistant Professor, Department Information Technology, Usha Mittal Institute of Technology, SNDT Women’s University, Mumbai, Maharashtra, India.
Manuscript received on May 15, 2021. | Revised Manuscript received on May 18, 2021. | Manuscript published on May 30, 2021. | PP: 26-31 | Volume-10 Issue-5, May 2021. | Retrieval Number: 100.1/ijsce.F35000510521 | DOI: 10.35940/ijsce.F3500.0510521
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© The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Studies have shown that new generation of millennials have limited to no knowledge about managing their finances. This lack of awareness has created a need for financial literacy which is not only an essential employ-ability skill but also, a paramount life skill. Not only the younger generation but many individuals already in the corporate field are at their wit’s end when it comes to planning their finances and making correct financial decisions. This is where awareness in wealth management comes in. Wealth management is an investment advisory service. It also combines financial services to address the needs of individuals. It is more than just investment advice; it encompasses all parts of a person’s financial life. The users can find all the information of different investments rather than integrating all the information from different places. They can generate a plan themselves or with the help of artificial intelligence and machine learning principles, manage their own and their family’s current and future needs.
Keywords: Artificial Intelligence, Investment Advisory, Machine Learning, Wealth Management System