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Journal of Arts, Society, and Education Studies

Volume 4, 2022 - Issue 2

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Journal Article

AI in Finance: Driving Innovation and Risk Management in the Financial Industry

by Linda Johnson 1,*
1
University of Malta
*
Author to whom correspondence should be addressed.
JASES  2022 4(2):99; https://doi.org/10.xxxx/xxxxxx
Received: 16 April 2022 / Accepted: 15 May 2022 / Published Online: 18 June 2022
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Abstract

This paper examines the significant role of artificial intelligence (AI) in the finance sector, focusing on how AI technologies are driving innovation and enhancing risk management practices. Through a comprehensive analysis of case studies and industry reports, the study explores how AI-driven solutions such as algorithmic trading, fraud detection, and credit scoring are transforming various aspects of financial operations, including investment decisions, regulatory compliance, and customer service. It discusses the potential benefits of AI in improving trading efficiency, reducing operational costs, and mitigating financial risks, while also addressing challenges related to algorithmic bias, cybersecurity, and regulatory oversight. Additionally, the paper examines the role of AI in enabling more accurate financial forecasting, by analyzing large datasets and identifying market trends and anomalies. Furthermore, it discusses the importance of ethical considerations, transparency, and explainability in the deployment of AI in finance, to ensure fairness and accountability in decision-making processes. The findings highlight the transformative impact of AI in creating more resilient, adaptive, and competitive financial ecosystems in the digital age.

Keywords: Artificial Intelligence; Finance; Innovation; Risk Management; Algorithmic Trading; Fraud Detection; Credit Scoring; Financial Forecasting;
Copyright: © 2022 by Johnson. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Johnson, L. AI in Finance: Driving Innovation and Risk Management in the Financial Industry. Journal of Arts, Society, and Education Studies, 2022, 4, 99. doi:10.xxxx/xxxxxx
AMA Style
Johnson L. AI in Finance: Driving Innovation and Risk Management in the Financial Industry. Journal of Arts, Society, and Education Studies; 2022, 4(2):99. doi:10.xxxx/xxxxxx
Chicago/Turabian Style
Johnson, Linda 2022. "AI in Finance: Driving Innovation and Risk Management in the Financial Industry" Journal of Arts, Society, and Education Studies 4, no.2:99. doi:10.xxxx/xxxxxx

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References

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