Effects and Influences of Artificial Intelligence in the Finance Sector
Kesawaraj P.K, Ph.D Research scholar, School of Commerce, Bharathiar University, Coimbatore.
Author Email:pnthangam1976@gmail.com
Abstract
This study examines the widespread impact of artificial intelligence (AI) in the financial sector, looking into the various ways it affects the sector. The study includes a thorough examination of AI applications with an emphasis on how it can revolutionize operational procedures, paradigms for making decisions, and the general direction of the financial industry. The main goal is to analyze the various ways artificial intelligence is being used in finance, from algorithmic trading and customer support to risk management and fraud detection. The research attempts to give a clear picture of how AI technologies are changing conventional practices and enhancing the capabilities of financial institutions by exploring particular use cases and implementations. The paper also examines the complex role that AI plays in financial sector decision-making. This entails a thorough analysis of how it affects credit scoring, investment strategies, and risk assessment. The goal of the study is to outline how AI affects decision-making procedures, explaining the benefits of incorporating cutting-edge technologies into well-established financial frameworks. The study also considers the future, evaluating AI's potential advancement in the financial sector. The study provides insights into how artificial intelligence (AI) is likely to develop and influence the financial landscape in the future by anticipating technological trends, regulatory influences, and potential obstacles. All things considered, this study provides a thorough and perceptive examination of the effects of AI in finance, providing insightful information for stakeholders, legislators, and business professionals negotiating the ever-changing intersection of financial services and artificial intelligence.
KEYWORDS: Fintech, machine learning, algorithmic trading, artificial intelligence, finance, and customer service
