Paper Key : IRJ************899
Author: Khushi Patel,Darshit Darji,Sandeep Raghuvanshi
Date Published: 03 Apr 2025
Abstract
Artificial Intelligence (AI) is changing how we do things by making computers smart enough to learn, solve problems, and make decisions like humans. AI tools like Siri and Alexa, recommendation systems on Netflix and Amazon, and self-driving cars are making various industries more efficient. This summary focuses on AI's big impact on finance. In finance, AI helps automate repetitive tasks like data entry and report generation, saving time and reducing errors. It analyses large amounts of data to find patterns, predict outcomes, and support decisions, which is useful for detecting fraud and managing investments. AI also improves risk management and compliance by evaluating risks and monitoring for suspicious activities. Customer service is enhanced through AI chatbots that provide personalized assistance. Additionally, AI algorithms optimize trading by analyzing market data and executing trades quickly. Overall, AI is transforming finance by making processes more efficient, improving data analysis, managing risks better, enhancing customer service, optimizing investments, and strengthening security. As AI advances, its influence on finance will continue to grow, leading to greater productivity and innovation.