Knowledge based systems in banking sector Desai BL Author

PREVIEWThis chapter covers the historical development of artificial Intelligence(AI) techniques and the use of expert systems. How expert systems wereintroduced ever since 1950, and their applicability. This chapter alsoexplains the concept of expert... Read more

PREVIEWThis chapter covers the historical development of artificial Intelligence(AI) techniques and the use of expert systems. How expert systems wereintroduced ever since 1950, and their applicability. This chapter alsoexplains the concept of expert systems, their architecture, and the need foremploying them Besides it discusses the importance of the expert system indifferent areas with special reference to banking and finance. Further,this chapter narrows down to the applicability of an expert system indifferent areas of banking and identifies the areas where expert systemscan be employed. Thus this chapter reveals the specific area fromthe banking and finance sector; this study will be concentrating on it.1.1 Review of LiteratureThe 1950s started the real development of AI and relatedprogramming languages. During the early 1950s, Arthur Samuel of IBMdeveloped the first game-playing program for checkers. The Samuelmachine learning programs were responsible for the high performance ofthe checkers game player. By the mid the term Artificial Intelligence(AI) was coined by John McCarthy of MIT at the 1956 DartmouthThe conference was the first conference devoted to AI. Later in 1958, he inventedthe LISP language. Less