The Future of Finance: Revolutionizing the Industry With Artificial Intelligence

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Author(s): Poonam Sharma (Central University of Himachal Pradesh, India)and Spna Devi (Central University of Himachal Pradesh, India)
Copyright: 2024
Pages: 24
Source title: Leveraging AI and Emotional Intelligence in Contemporary Business Organizations
Source Author(s)/Editor(s): Dipanker Sharma (Central University of Himachal Pradesh, India), Bhawana Bhardwaj (Central University of Himachal Pradesh, India)and Mohinder Chand Dhiman (Kurukshetra University, India)
DOI: 10.4018/979-8-3693-1902-4.ch011

Keywords: Administration & Leadership / Business & Management / Business Science Reference / Management Science

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Abstract

This book chapter explores the applications and implications of artificial intelligence (AI) in the finance industry. The chapter examines significant areas where AI is utilized in finance, including trading, fraud detection, customer service, portfolio optimization, and risk management. Furthermore, the chapter explores AI's implications and future trends in finance. This would offer a comprehensive understanding of the applications and implications of artificial intelligence and its importance in financial aspects, including models and techniques awareness. Design/methodology/approach: AI use in finance will be comprehensively examined by a review of literature, industry reports, and case studies. The advantages of using AI in finance will be highlighted, for instance, cost reduction, improved efficiency, and decision-making. Existing literature on using AI in finance will be examined through future trends and AI adoption.

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The Future of Finance: Revolutionizing the Industry With Artificial Intelligence

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