Case-based recommender systems for personalized finance advisory

Wealth Management is a business model operated by banks and brokers, that offers a broad range of investment services to individual clients to help them reach their investment objectives. Wealth management services include investment advisory, subscription of mandates, sales of financial products, collection of investment orders by clients. Due to the complexity of the tasks, which largely require a deep knowledge of the financial domain, a trend in the area is the exploitation of recommendation technologies to support financial advisors and to improve the effectiveness of the process. The talk presents a framework to support financial advisors in the task of providing clients with personalized investment strategies. The methodology is based on the exploitation of case-based reasoning and the introduction of a diversification technique. A prototype of the framework has been used to generate personalized portfolios, and its performance, evaluated against 1,172 real users, shows that the yield obtained by recommended portfolios overcomes that of portfolios proposed by human advisors in most experimental settings

Fairness and Popularity Bias in Recommender Systems: an Empirical Evaluation

In this paper, we present the results of an empirical evaluation investigating how recommendation algorithms are affected by popularity bias. Popularity bias makes more popular items to be recommended more frequently than less popular ones, thus it is one of the most relevant issues that limits the fairness of recommender systems. In particular, we define an experimental protocol based on two state-of-theart datasets containing users’ preferences on movies and books and three different recommendation paradigms, i.e., collaborative filtering, content-based filtering and graph-based algorithms. In order to evaluate the overall fairness of the recommendations we use well-known metrics such as Catalogue Coverage, Gini Index and Group Average Popularity (ΔGAP). The goal of this paper is: (i) to provide a clear picture of how recommendation techniques are affected by popularity bias; (ii) to trigger further research in the area aimed to introduce methods to mitigate or reduce biases in order to provide fairer recommendations

Generating Recommendations From Multiple Data Sources: A Methodological Framework for System Design and Its Application

Recommender systems (RSs) are systems that produce individualized recommendations as output or drive the user in a personalized way to interesting or useful objects in a space of possible options. Recently, RSs emerged as an effective support for decision making. However, when people make decisions, they usually take into account different and often conicting information such as preferences, long-term goals, context, and their current condition. This complexity is often ignored by RSs. In order to provide an effective decision-making support, a RS should be ``holistic'', i.e., it should rely on a complete representation of the user, encoding heterogeneous user features (such as personal interests, psychological traits, health data, social connections) that may come from multiple data sources. However, to obtain such holistic recommendations some steps are necessary: rst, we need to identify the goal of the decision-making process; then, we have to exploit common-sense and domain knowledge to provide the user with the most suitable suggestions that best t the recommendation scenario. In this article, we present a methodological framework that can drive researchers and developers during the design process of this kind of ``holistic'' RS. We also provide evidence of the framework validity by presenting the design process and the evaluation of a food RS based on holistic principles

Personalized Finance Advisory through Case-based Recommender Systems and Diversification Strategies

Recommendation of financial investment strategies is a complex and knowledge-intensive task. Typically, financial advisors have to discuss at length with their wealthy clients and have to sift through several investment proposals before finding one able to completely meet investors' needs and constraints. As a consequence, a recent trend in wealth management is to improve the advisory process by exploiting recommendation technologies. This paper proposes a framework for recommendation of asset allocation strategies which combines case-based reasoning with a novel diversification strategy to support financial advisors in the task of proposing diverse and personalized investment portfolios. The performance of the framework has been evaluated by means of an experimental session conducted against 1172 real users, and results show that the yield obtained by recommended portfolios overcomes that of portfolios proposed by human advisors in most experimental settings while meeting the preferred risk profile. Furthermore, our diversification strategy shows promising results in terms of both diversity and average yield

Introducing linked open data in graph-based recommender systems

Thanks to the recent spread of the Linked Open Data (LOD) initiative, a huge amount of machine-readable knowledge encoded as RDF statements is today available in the so-called LOD cloud. Accordingly, a big effort is now spent to investigate to what extent such information can be exploited to develop new knowledge-based services or to improve the effectiveness of knowledge-intensive platforms as Recommender Systems (RS). To this end, in this article we study the impact of the exogenous knowledge coming from the LOD cloud on the overall performance of a graph-based recommendation framework. Specifically, we propose a methodology to automatically feed a graph-based RS with features gathered from the LOD cloud and we analyze the impact of several widespread feature selection techniques in such recommendation settings. The experimental evaluation, performed on three state-of-the-art datasets, provided several outcomes: first, information extracted from the LOD cloud can significantly improve the performance of a graph-based RS. Next, experiments showed a clear correlation between the choice of the feature selection technique and the ability of the algorithm to maximize specific evaluation metrics, as accuracy or diversity of the recommendations. Moreover, our graph-based algorithm fed with LOD-based features was able to overcome several baselines, as collaborative filtering and matrix factorization

Automatic selection of linked open data features in graph-based recommender systems

In this paper we compare several techniques to automatically feed a graph-based recommender system with features extracted from the Linked Open Data (LOD) cloud. Specifically, we investigated whether the integration of LOD-based features can improve the effectiveness of a graph-based recommender system and to what extent the choice of the features selection technique can influence the behavior of the algorithm by endogenously inducing a higher accuracy or a higher diversity. The experimental evaluation showed a clear correlation between the choice of the feature selection technique and the ability of the algorithm to maximize a specific evaluation metric. Moreover, our algorithm fed with LODbased features was able to overcome several state-of-the-art baselines: this confirmed the effectiveness of our approach and suggested to further investigate this research line

Personalized Recommendation of PoIs to People with Autism

The suggestion of Points of Interest to people with Autism Spectrum Disorder (ASD) challenges recommender systems research because these users' perception of places is influenced by idiosyncratic sensory aversions which can mine their experience by causing stress and anxiety. Therefore, managing individual preferences is not enough to provide these people with suitable recommendations. In order to address this issue, we propose a Top-N recommendation model that combines the user's idiosyncratic aversions with her/his preferences in a personalized way to suggest the most compatible and likable Points of Interest for her/him. We are interested in finding a user-specific balance of compatibility and interest within a recommendation model that integrates heterogeneous evaluation criteria to appropriately take these aspects into account. We tested our model on both ASD and "neurotypical" people. The evaluation results show that, on both groups, our model outperforms in accuracy and ranking capability the recommender systems based on item compatibility, on user preferences, or which integrate these two aspects by means of a uniform evaluation model

Ask Me Any Rating: A Content-based Recommender System based on Recurrent Neural Networks

Abstract. In this work we propose Ask Me Any Rating (AMAR), a novel content-based recommender system based on deep neural networks which is able to produce top-N recommendations leveraging user and item embeddings which are learnt from textual information describing the items. A comprehensive experimental evaluation conducted on stateof-the-art datasets showed a significant improvement over all the baselines taken into account