Use of Artificial intelligence can really help in many ways. It can provide automatic financial advice, more accurate prediction, automatic trading, data management, poverty alleviation, new ethical dilemmas.
AI has become a part of daily life for many investors .The application of AI is seen as a modern indicator of development of the financial activities for most of the firms. AI is applied today in various diverse sectors such as banking sector and industrial sector . Today large corporates, small and medium enterprises in developed and developing countries use AI technologies.
AI in financial sector include bringing smarter chat-bots for customer service, personalising services for individuals, and even placing an AI robot for self-service at banks. Beyond these for basic applications banks can implement the technology for bringing in more efficiency to their back-office work and even reduce fraud and security risks.
Artificial intelligence is a spark of advancement in the financial sector. It is however integral to note that the legal frameworks for its development and deployment should envisage and curb the negative aspects or threats associated with artificial intelligence in order to give the end users the best they deserve.
Blog By :-
Ms. Megha Daga
Department of Commerce & Management
Biyani Group of Colleges