The Role of Artificial Intelligence in Investment Decisions and Applications in The Turkish Finance Industry

Year 2022, , 2208 - 2222, 19.10.2022

Esra Alp Coşkun

https://doi.org/10.21547/jss.1101615

Abstract

Alan Turing was not the first one to ask whether machines can think, but he might have been the closest one with a positive answer. Artificial intelligence (AI) techniques are used for many purposes, such as self-driven cars, manufacturing in dark factories, chatbots, and Robo-advisors. In line with the increasing use of AI in the financial sector, empirical studies also reveal that AI techniques perform better than conventional models. This study aims to shed light on the effects of AI techniques on investors’ decision-making process in the case of the Turkish finance industry. As the first study in the literature, by comparing EU practices, I also review the existing AI policy framework and industry practices in the Turkish finance industry to develop some policy suggestions.

Keywords

Artificial intelligence, neural networks, genetic algorithms, Robo-advisor, investor preferences, decision making.

Yatırım Kararlarında Yapay Zekanın Rolü ve Türk Finans Sektörü Uygulamaları

Abstract

Öz
Makinelerin düşünüp düşünemeyeceğini sorgulayan ilk kişi Alan Turing değildi, ancak olumlu bir yanıt veren en yakın kişi olduğu söylenebilir. Yapay zeka (AI) teknikleri, otomatik (kendi kendine) giden arabalar, karanlık fabrikalarda üretim, sohbet robotları ve robo-danışmanlar gibi birçok amaç için kullanılmaktadır. Yapay zekanın finans sektöründe artan kullanımına paralel olarak, ampirik çalışmalar da yapay zeka tekniklerinin geleneksel modellerden daha iyi performans gösterdiğini ortaya koymaktadır. Bu çalışma, Türk finans sektörü örneğinde yapay zeka tekniklerinin yatırımcıların karar verme süreçleri üzerindeki etkilerine ışık tutmayı amaçlamaktadır. Literatürde ilk olarak bu çalışma, bazı politika önerileri geliştirmek için Türkiye ve AB uygulamalarını karşılaştırarak, Türk finans sektöründeki mevcut AI politika çerçevesini ve endüstri uygulamalarını da gözden geçirmektedir.

Keywords

Yapay zeka, sinir ağları, genetik algoritmalar, Robo-danışman, yatırımcı tercihleri, karar verme.

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