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The Rise and Rise of Artificial Intelligence in the World of Finance

The Rise and Rise of Artificial Intelligence in the World of Finance

Vishwanathan Hariharan Iyer (Balaji Institute of International Business, Sri Balaji University, Pune, India), Ushmita Gupta (Balaji Institute of International Business, Sri Balaji University, Pune, India), Pritesh Pradeep Somani (Balaji Institute of International Business, Sri Balaji University, Pune, India), Nitesh Behare (Balaji Institute of International Business, Sri Balaji University, Pune, India), Rashmi Mahajan (Balaji Institute of International Business, Sri Balaji University, Pune, India), and Meenakshi Singh (Balaji Institute of International Business, Sri Balaji University, Pune, India)
Copyright: © 2024 |Pages: 22
DOI: 10.4018/979-8-3693-2185-0.ch003
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Abstract

This chapter explores the burgeoning influence of artificial intelligence (AI) on financial services. The authors examine how AI is transforming various sectors, including algorithmic trading, risk management, fraud detection, and wealth management. The chapter analyses the benefits of AI, such as increased efficiency, accuracy, and data-driven decision-making. It also acknowledges potential challenges, including job displacement, algorithmic bias, and the need for robust regulatory frameworks. By critically assessing the current landscape and future possibilities, this chapter sheds light on the transformative power of AI in shaping the future of finance
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