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Journal of Arts, Society, and Education Studies

Volume 4, 2022 - Issue 3

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Journal Article

AI in Finance: Revolutionizing Banking and Investment

by Joseph Garcia 1,*
1
Palacký University Olomouc
*
Author to whom correspondence should be addressed.
JASES  2022 4(3):109; https://doi.org/10.xxxx/xxxxxx
Received: 12 July 2022 / Accepted: 17 August 2022 / Published Online: 17 September 2022
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Abstract

This paper explores the transformative impact of artificial intelligence (AI) in the finance sector, focusing on how AI technologies are revolutionizing banking and investment practices. Through an analysis of case studies and industry insights, the study investigates how AI-driven solutions such as algorithmic trading, fraud detection, and robo-advisors are reshaping various aspects of financial services, including risk management, customer service, and portfolio management. It discusses the potential benefits of AI in improving decision-making accuracy, reducing operational costs, and enhancing financial inclusion, while also addressing challenges related to data security, regulatory compliance, and ethical considerations. Additionally, the paper examines the role of AI in enabling more personalized and proactive financial services, by analyzing customer data and providing real-time recommendations and insights. Furthermore, it discusses the importance of collaboration between financial institutions, technology providers, and regulators, investment in AI talent and infrastructure, and continuous monitoring and evaluation of AI algorithms in harnessing the full potential of AI in finance. The findings underscore the transformative power of AI in creating more efficient, transparent, and inclusive financial systems for individuals and businesses.

Keywords: Artificial Intelligence; Finance; Banking; Investment; Algorithmic Trading; Fraud Detection; Robo-Advisors; Risk Management;
Copyright: © 2022 by Garcia. 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
Garcia, J. AI in Finance: Revolutionizing Banking and Investment. Journal of Arts, Society, and Education Studies, 2022, 4, 109. doi:10.xxxx/xxxxxx
AMA Style
Garcia J. AI in Finance: Revolutionizing Banking and Investment. Journal of Arts, Society, and Education Studies; 2022, 4(3):109. doi:10.xxxx/xxxxxx
Chicago/Turabian Style
Garcia, Joseph 2022. "AI in Finance: Revolutionizing Banking and Investment" Journal of Arts, Society, and Education Studies 4, no.3:109. doi:10.xxxx/xxxxxx

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References

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