Welcome to the second part of our five-part series! In our first post we outlined useful portals you can use to locate a wide range of quirky and governmental datasets for relevant projects.

This post will focus on financial and economic dataset portals and some applications of Machine Learning within the field.

“Machines have the ability to quickly analyse news feeds and tweets, process earnings statements, scrape websites, and trade on these instantaneously.” — J.P. Morgan

‘What are the applications of Machine learning in finance/economics?’, we hear you ask?

Machine Learning (ML) in finance goes back way before the advent of bots, search engines and mobile banking apps [1]. With decades of financial quantitative records available, there are few sectors better suited as the financial sector for the application of ML.

Today, Machine Learning is used in finance for:

Portfolio Management

Algorithmic trading

Fraud detection

Underwriting

Sentiment analysis

Customer Service [bots]

Reccomending products/services

Machine Learning is also used in Economics for: