IDEAS home Printed from https://ideas.repec.org/a/taf/tjmaxx/v10y2023i4p676-692.html

Artificial intelligence applications in finance: a survey

Author

Listed:
  • Xuemei Li
  • Alexander Sigov
  • Leonid Ratkin
  • Leonid A. Ivanov
  • Ling Li

Abstract

Finance is in our daily life. We invest, borrow, lend, budget, and save money. Finance also provides guidelines for corporation and government spending and revenue collection. Traditional statistical solutions such as regression, PCA, and CFA have been widely used in financial forecasting and analysis. With the increasing interest in artificial intelligence in recent years, this paper reviews the Artificial Intelligence (AI) techniques in the finance domain systematically and attempts to identify the current AI technologies used, major applications, challenges, and trends in Finance. It explores AI-related articles in Finance in IEEE Xplore and EI compendex databases. Findings suggest AI has been engaged in Finance in financial forecasting, financial protection, and financial analysis and decision-making areas. Financial forecasting is one of the main sub-fields of Finance affected by AI technology. The major AI technology used is supervised learning. Deep learning has gained popular in recent years. AI could be used to address some emerging topics.

Suggested Citation

  • Xuemei Li & Alexander Sigov & Leonid Ratkin & Leonid A. Ivanov & Ling Li, 2023. "Artificial intelligence applications in finance: a survey," Journal of Management Analytics, Taylor & Francis Journals, vol. 10(4), pages 676-692, October.
    • Handle: RePEc:taf:tjmaxx:v:10:y:2023:i:4:p:676-692
    DOI: 10.1080/23270012.2023.2244503
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/23270012.2023.2244503
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/23270012.2023.2244503?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gilmour, Paul & Pandey, Durgesh & Goldbarsht, Doron, 2025. "Registers of beneficial owners based on blockchain technology: Implications for the accounting profession," Technological Forecasting and Social Change, Elsevier, vol. 214(C).
    2. Deepak Mishra & Mansi Kedia & Aarti Reddy, 2026. "AI and Jobs: This time is no different," Indian Council for Research on International Economic Relations (ICRIER) Report 26-r-06, Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India.
    3. Ling Li, 2024. "Industry 4.0 and Beyond," Information Systems Frontiers, Springer, vol. 26(5), pages 1581-1583, October.
    4. Emanuela MIDOLO & Rosangela BARCARO, 2025. "Artificial Intelligence and Medicine in the Old Continent: How Europe is Trying to Define an Ethical Application of this New Technology," RAIS Journal for Social Sciences, Research Association for Interdisciplinary Studies, vol. 9(2), pages 424-432, November.
    5. repec:osf:socarx:ub92z_v1 is not listed on IDEAS
    6. Katharina Agethen & Luc Sandfort & Anja Iseke, 2026. "Are Collectivistic Leaders Necessary for Fluid Virtual Teams? A Multilevel Configurational Approach," Working Papers Dissertations 171, Paderborn University, Faculty of Business Administration and Economics.
    7. Lavaneesh Rama & Samuel Manickam & Yuvavatania Davudars & Mohd Haniff Mohd Tahir, 2026. "Exploring the Use of AI-Generated Contextual Sentences for English Vocabulary Acquisition Among Malaysian ESL Learners," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 10(1), pages 1468-1479, January.
    8. Koji Takahashi & Joon Suk Park, 2026. "Generative AI for surveys on payment apps: AI views on privacy and technology," BIS Working Papers 1333, Bank for International Settlements.
    9. Austin Mwange & Kampamba Clarence Chibesa & Windu Matoka & Lwando Kalaba, 2025. "An Investigation of the Impacts of Artificial Intelligence on Financial Inclusion in Developing Economies: Case of Sub-Saharan Africa," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 6(3).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:tjmaxx:v:10:y:2023:i:4:p:676-692. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/tjma .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.