**3. Emerging paradigms in computing in finance**

Several new capabilities and approaches and frameworks in machine learning, data science, and artificial intelligence have become available to the modelers and engineers for all disciplines including finance professionals and researchers. Some of them are as follows.

**Virtual Agents:** The machine learning paradigm will witness the increasing deployment of agents in various tasks. These agents have the capability of performing complex data mining tasks through a large set of policy rules, defined procedures and regulations, and provide automated responses to queries.

**Cognitive Robotics:** The robots in the cognitive domain have the power of automating several tasks which are currently done by humans. This automation comes with an additional level of sophistication, speed, and precision in performing the tasks.

**Text Analytics:** The applications of sophisticated algorithms, frameworks, and models of natural language processing in analyzing voluminous and complex financial contracts and documents help processing and decision making faster and more accurately with minimal associated risks.

**Video Analytics:** Advancements in the fields of computer vision, image processing, speech processing, and speech recognition together with the exponential growth in hardware capabilities have led to very promising progress in compliance, audit, model validation in various financial applications including automated generation and presentation of financial reports.
