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A Comprehensive Study of Artificial Intelligence and Cybersecurity on Bitcoin, Crypto Currency and Banking System

Author

Listed:
  • Tamanna Choithani

    (Indus University)

  • Asmita Chowdhury

    (Indus University)

  • Shriya Patel

    (Indus University)

  • Poojan Patel

    (Nirma University)

  • Daxal Patel

    (Nirma University)

  • Manan Shah

    (Pandit Deendayal Energy University)

Abstract

In recent years cryptocurrencies are emerging as a prime digital currency as an important asset and financial system is also emerging as an important aspect. To reduce the risk of investment and to predict price, trend, portfolio construction, and fraud detection some Artificial Intelligence techniques are required. The Paper discusses recent research in the field of AI techniques for cryptocurrency and Bitcoin which is the most popular cryptocurrency. AI and ML techniques such as SVM, ANN, LSTM, GRU, and much other related research work with cryptocurrency and Bitcoin have been reviewed and most relevant studies are discussed in the paper. Also highlighted some possible research opportunities and areas for better efficiency of the results. Recently in the past few years, artificial intelligence (AI) and cybersecurity have advanced expeditiously. Its implementation has been extensively useful in finance as well as has a crucial impact on markets, institutions, and legislation. It is making the world a better place. AI is responsible for the simulation of machines that are replicas of human beings and are intelligent enough. AI in finance is changing the way we communicate with money. It helps the financial industry streamline and optimize processes from credit judgments to quantitative analysis marketing and economic risk management. The main goal of this research has been investigating certain impacts of artificial intelligence in this contemporary world. It's centered on the appeal of artificial intelligence, confrontation, chances, and its influence on professions and careers. The research paper uses AI to enable banks to generate financial resources and to provide valuable customer services. The application of the growing Indian banking sector is part of everyday life made up of several banks like RBI, SBI, HDFC, etc. and these banks have digitally implemented using chat-bots that have brought benefits to the customers.

Suggested Citation

  • Tamanna Choithani & Asmita Chowdhury & Shriya Patel & Poojan Patel & Daxal Patel & Manan Shah, 2024. "A Comprehensive Study of Artificial Intelligence and Cybersecurity on Bitcoin, Crypto Currency and Banking System," Annals of Data Science, Springer, vol. 11(1), pages 103-135, February.
    • Handle: RePEc:spr:aodasc:v:11:y:2024:i:1:d:10.1007_s40745-022-00433-5
    DOI: 10.1007/s40745-022-00433-5
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    References listed on IDEAS

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    1. Atsalakis, George S. & Atsalaki, Ioanna G. & Pasiouras, Fotios & Zopounidis, Constantin, 2019. "Bitcoin price forecasting with neuro-fuzzy techniques," European Journal of Operational Research, Elsevier, vol. 276(2), pages 770-780.
    2. Helder Sebastião & Pedro Godinho, 2021. "Forecasting and trading cryptocurrencies with machine learning under changing market conditions," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-30, December.
    3. Thomas E. Koker & Dimitrios Koutmos, 2020. "Cryptocurrency Trading Using Machine Learning," JRFM, MDPI, vol. 13(8), pages 1-7, August.
    4. James M. Tien, 2017. "Internet of Things, Real-Time Decision Making, and Artificial Intelligence," Annals of Data Science, Springer, vol. 4(2), pages 149-178, June.
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