This talk is aims to provide a literature survey of published use cases and research papers on use of machine learning in finance and how it is helping refocus the financial sector to its fundamental purpose. In particular recent developments in deep learning. The discussion will put a spotlight on some of the recent relevant research in deep learning and reinforcement learning. Other aspects like generating synthetic data; text analytics; transfer learning and explainability of deep learning models will also be discussed. This talk will conclude with thoughts on governance framework; evolving regulatory landscape and some ethical questions about use of these models.