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Artificial Intelligence in Finance: Applications and Implications

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  • Aswin S

    (Sathyabama Institute of Science and Technology)

Abstract

The definition and uses of Artificial Intelligence, often abbreviated as AI, has come a long way since its inception. This technology is rapidly changing some business operations in the areas of trading, identification of frauds, and customer service in particular, the modern finance sector, and this article highlights the importance of technology in these processes. Significant Applications of Artificial Intelligence in Finance: From Algorithmic Trading to Robo-Advisors. Explaining, the paper analyzes the current trends and practices in the industries, addressing the positive and negative aspects of AI in the finance sector, with respect to the visions of the future. One that relates to the socio-technical implications that include the use of such technology in finance and the associated risks of data breach, availability, and loss of control and trust in processes.

Suggested Citation

  • Aswin S, 2024. "Artificial Intelligence in Finance: Applications and Implications," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 5(4).
    • Handle: RePEc:cwk:ajocsk:2024-49
    DOI: 10.59413/ajocs/v5.i.4.3
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