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Importance and value of Artificial Intelligence in Financial Sector – A critical Review

2021 International journal of modern trends in science and technology  
Many times, Artificial Intelligence is called as automation of the process within the sector, but a better way of usage of technology for the betterment of sector, mainly financial sector.  ...  Huge changes have been brought in financial sector through technology of artificial intelligence that created a range of innovative financial services such as intelligent consultant, intelligent lending  ...  management as well as control, its careful promotion and application n risk management in financial sector.  ... 
doi:10.46501/ijmtst0705002 fatcat:kkekoqzdt5ghzcs2rn7ht5h2si

Application of Artificial Intelligence in Investment Banks

R. Vedapradha, Hariharan Ravi
2018 Review of Economic and Business Studies  
Artificial Intelligence will focus on cognitive application in functional areas of business along with investment and compliance sectors of financial services industry.  ...  These applications have been embraced by the investment banks as regulatory framework are failing to combat conventional way in combating against money laundering.  ...  ARTIFICIAL INTELLIGENCE (AI) Artificial Intelligence will focus on cognitive application in functional areas of business along with investment and compliance sectors of financial services industry.  ... 
doi:10.1515/rebs-2018-0078 fatcat:f4ea4lh6lvf4ze2iegauciq3se

Artificial Intelligence in Financial Services

Ana Fernandez
2019 Social Science Research Network  
The use of artificial intelligence tools has escalated recently in all sectors of the economy owing, among other factors, to the growing volume of digital data and higher computational capacity.  ...  It also indicates the main limitations of the technology and its possible implications for the correct functioning of the financial system.  ...  The use of artificial intelligence applications in the financial sector is already a tangible reality that provides numerous benefits to market participants.  ... 
doi:10.2139/ssrn.3366846 fatcat:zbcartsu6bbdhgiohkq64dblza

Editorial: AI and Financial Technology

Paolo Giudici, Ronald Hochreiter, Jörg Osterrieder, Jochen Papenbrock, Peter Schwendner
2019 Frontiers in Artificial Intelligence  
AUTHOR CONTRIBUTIONS All authors listed have made a substantial, direct and intellectual contribution to the work, and approved it for publication.  ...  It will eventually lead to the development of a regulatory framework that encourages innovations in Big Data analytics, Artificial Intelligence, and Blockchain technologies which, at the same time, satisfies  ...  In particular, the FIN-TECH project aims to create a European training program aimed at shared risk management solutions that automatize compliance of Fintech companies (RegTech) and, at the same time,  ... 
doi:10.3389/frai.2019.00025 pmid:33733114 pmcid:PMC7861297 fatcat:nllezcfe5zgezeui7zlmbd7nea

Paradigm Shift In Indian Banking Industry With Special Reference To Artificial Intelligence

Khusboo Srivastava, Et. al.
2021 Turkish Journal of Computer and Mathematics Education  
It seeks to explore advancement that artificial intelligence offers to FinTech and the different ways in which it can shape the operations of an Indian banking ecosystem.  ...  This paper will confer that what are the advantages and the challenges which artificial intelligence is confronting in India.  ...  With ongoing improvement in both equipment and programming advancements had expanded the application of artificial intelligence framework.  ... 
doi:10.17762/turcomat.v12i5.2139 fatcat:nauphuvlijes3d3fd4vq67fqre

Fintech Risk Management: A Research Challenge for Artificial Intelligence in Finance

Paolo Giudici
2018 Frontiers in Artificial Intelligence  
OVERVIEW The Financial Stability Board (2017b) defines FINancial TECHnology as "technologically enabled financial innovations that could result in new business models, applications, processes, or products  ...  It could lead to the development of a regulatory framework that encourages innovations in big data analytics, artificial intelligence and blockchain technologies which, at the same time, satisfies supervisory  ...  Artificial intelligence, with its application to financial roboadvice, with main risks arising from market risk and compliance risk; iii Blockchain, with main application to crypto-assets, with main risks  ... 
doi:10.3389/frai.2018.00001 pmid:33733089 pmcid:PMC7861247 fatcat:lvjxkqnycbeahgddn3aozz5inu

Editorial: Explainable, Trustworthy, and Responsible AI for the Financial Service Industry

Branka Hadji Misheva, Jochen Papenbrock
2022 Frontiers in Artificial Intelligence  
ACKNOWLEDGMENTS The article draws on the research done under Innosuisse Project 41084.1 IP-SBM Towards Explainable Artificial Intelligence and Machine Learning in Credit Risk Management and the COST Action  ...  19130 Fintech and Artificial Intelligence in Finance, supported by COST.  ...  Frontiers in Artificial Intelligence | May 2022 | Volume 5 | Article 902519  ... 
doi:10.3389/frai.2022.902519 fatcat:vcfw5elxxrbcnhpobxlrpnu6oq

Cognitive Compliance: Assessing Regulatory Risk in Financial Advice Documents

Wanita Sherchan, Sue Ann Chen, Simon Harris, Nebula Alam, Khoi-Nguyen Tran, Christopher J. Butler
This paper describes Cognitive Compliance - a solution that automates the complex manual process of assessing regulatory compliance of personal financial advice.  ...  This enables comprehensive coverage of the review and rapid identification of documents at high risk of non-compliance with government regulations.  ...  consulting firm specialising in regulatory and risk management advice to financial institutions .  ... 
doi:10.1609/aaai.v34i09.7105 fatcat:h5anrkypabg5vml7pi327nwe2q

Regtech: Bits and Bytes of Financial Regulation

Dr. Krishnendu Ghosh
2021 Journal of Business Strategy Finance and Management  
The paper stresses out an importance of stringent financial regulations and regulatory compliance in the recent era of technological changes and innovations towards financial stability.  ...  Global Financial Crisis of 2008 has caused dramatic structural changes in the financial sector and financial services worldwide.  ...  robotics, artificial intelligence, cryptography, compliance obligations (Nedelchev, 2020). biometrics, blockchain, other distributed ledgers, application programming interfaces (APIs), Shared In case  ... 
doi:10.12944/jbsfm.03.01-02.10 fatcat:dg6ilyvizzhbpmhd4mzjunz73u

The Influence and Application of Artificial Intelligence &Blockchain on Financial Service

Shu-Han Chang, Chien-Ping Shih
2018 Holistica  
Through mobile payments, cloud platforms, and artificial intelligence, the technology industry has gradually penetrated into the financial industry.  ...  The advances in science and technology have benefited many industries. In recent years, we have witnessed the rapid development of financial technology.  ...  Among them, "artificial intelligence" covers customer service, wealth management, risk management and other aspects in finance.  ... 
doi:10.2478/hjbpa-2018-0022 fatcat:bhlfimthnrfztl3rqqofqtovku

Research on the Development Status and Regulatory Countermeasures of Financial Technology in China

Jing Yu, Wanqiu Li, Ling Zhao
2022 International Research in Economics and Finance  
The development of innovative technologies based on big data, cloud computing, Internet of Things, artificial intelligence and other technologies has played a positive role in improving the overall efficiency  ...  This paper analyzes the development status and trends of financial technology and the risks faced by the development of financial technology, and puts forward corresponding regulatory policies.  ...  Artificial Intelligence Promotes the Development of Smart Financial Innovation Artificial intelligence is committed to using computers to simulate the intelligence function of human brain, endowing machines  ... 
doi:10.20849/iref.v6i1.1113 fatcat:h4obpzh3xzd4rdq6niymfrt7ye

The Role of the Compliance Function in the Financial Sector in the Age of Digitalisation, Artificial Intelligence and Robotisation

Gábor József Harkácsi, László Péter Szegfű
2021 Financial and economic review  
The compliance function must find its place and role in this changing environment in order to be able to efficiently support financial sector participants in their duty to comply with rules and ensure  ...  Our analysis is intended to fill a gap in the sense that the focus of our study is on the challenges of the compliance function and their responses, putting into complex perspective the lack of and the  ...  strategy for artificial intelligence, 12 in addition to setting out the principles in its White Paper on artificial intelligence (European Commission 2020).  ... 
doi:10.33893/fer.20.1.152170 fatcat:mgmed74mhvhzhmf2cd5qljtkpi

Risks of Artificial Intelligence in Business Management

K Ashwini, N Vani
2018 Zenodo  
In the early years when artificial Intelligence was newly introduced to the field of business there was extensive usage in all the functions of the business.  ...  One actually cannot deny the buzz and hype of Artificial Intelligence in the field of Science, Education, Business Health care, Transport industries etc.  ...  Artificial Intelligence is Widely used in the Functioning of the Financial Department: Namely 1.  ... 
doi:10.5281/zenodo.1403597 fatcat:p7lndlzxmngbxccujkg2f2nr4u

Artificial Intelligence in the Banking Sector – A Critical Analysis

Joel Manjaly, Ranjana Mary Varghese, Philip Varughese
2021 Shanlax International Journal of Management  
The rapid growth of technology, internet and infrastructure has fuelled this disruption at a 10X speed.Talk of the town in digital disruption is Artificial Intelligence.  ...  The future of AI in banking is enormous as the power of advanced data analytics can combat fraudulent bank transactions and improve compliance.  ...  Introduction In 2017, the Financial Stability Board (FSB), a global association that checks and makes commendations about the worldwide financial system, set out different applications of AI in the financial  ... 
doi:10.34293/management.v8is1-feb.3778 fatcat:etu5jdem2vgxnngeg237atxrrm

Artificial Intelligence and Its Use in Financial Markets

Lilia Mirgaziyanovna Yusupova, Irina Arkadevna Kodolova, Tatyana Viktorovna Nikonova, Madina Irekovna Agliullina, Zarina Irekovna Agliullina
2020 International Journal of Financial Research  
One of the most state-of-the-art technologies is artificial intelligence and Big Data.  ...  The global financial system is currently at a new stage of its development, which is characterized by the introduction of information and communication technologies in all financial spheres.  ...  Acknowledgments The work is performed according to the Russian Government Program of Competitive Growth of Kazan Federal University.  ... 
doi:10.5430/ijfr.v11n5p353 fatcat:u4a6sg2gljdvhodazcgmjwhqwe
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