Impact of Artificial Intelligence on Financial Decision Making – A Study with Reference to Coimbatore City

Financial decision-making is a very important factor in the profitability, sustainability, and growth of a business. Even a small mistake in financial decision-making can cause huge financial losses for the business. Artificial Intelligence (AI) helps in avoiding such risks in financial decision-making. In recent years, there has been rapid digitalization in the financial sector in Indian cities. Coimbatore has grown as a major industrial, business, financial, and IT hub in the state of Tamil Nadu. There are a number of banks, non-banking financial companies (NBFCs), microfinance organizations, and fintech organizations in Coimbatore. All these organizations have started to adopt AI technology for better efficiency and customer satisfaction. AI can process huge amounts of financial data at a very fast speed compared to traditional methods. Despite its benefits, there are still security risks, ethical risks, lack of skilled professionals in AI technology, and trust associated with AI technology. Hence, it is very important to study the impact of AI technology in financial decision-making in Coimbatore.