Transforming Financial Services with AI: Strengthening Risk and Decision Processes

EasyChair Preprint no. 13361

Abstract

Artificial Intelligence (AI) is transforming the financial services industry by significantly strengthening risk management and decision-making processes. This paper examines the extensive impact of AI on financial services, focusing on its ability to enhance accuracy, efficiency, and predictive capabilities. AI technologies, such as machine learning and predictive analytics, are instrumental in identifying and mitigating risks, detecting fraud, and ensuring compliance with regulations, thus bolstering the stability and security of financial institutions. Moreover, AI provides valuable insights that improve strategic decision-making, enabling financial organizations to optimize resource allocation, conduct thorough market analysis, and deliver tailored customer experiences. By reviewing current AI applications and presenting case studies, this paper demonstrates how financial services can harness AI to drive innovation, achieve operational excellence, and secure a competitive advantage in a rapidly evolving industry landscape.

Keyphrases: and, decision, processes

@Booklet{EasyChair:13361,
  author = {Kurez Oroy and Huiling Tao},
  title = {Transforming Financial Services with AI: Strengthening Risk and Decision Processes},
  howpublished = {EasyChair Preprint no. 13361},

  year = {EasyChair, 2024}}