Artificial Intelligence in Financial Services: Risk Management and Decision Making

EasyChair Preprint 13357

Abstract

Artificial Intelligence (AI) is revolutionizing the financial services sector, particularly in the realms of risk management and decision making. This abstract explores how AI technologies, such as machine learning, natural language processing, and predictive analytics, are enhancing the precision and efficiency of risk assessment and management. AI enables financial institutions to analyze vast datasets quickly, identify patterns, and predict potential risks with greater accuracy. In decision making, AI supports more informed and data-driven choices, optimizing investment strategies, credit scoring, and fraud detection. By automating complex processes and providing real-time insights, AI not only mitigates risks but also enhances operational efficiency and competitive advantage. However, the integration of AI also brings challenges, including data privacy concerns, the need for robust regulatory frameworks, and the potential for algorithmic biases. Addressing these issues is crucial to maximizing AI’s benefits in financial services, ensuring it contributes to a secure, fair, and efficient financial ecosystem.

Keyphrases: Risk, Services, management

@booklet{EasyChair:13357,
  author    = {Chen Liu and Julia Anderson},
  title     = {Artificial Intelligence in Financial Services: Risk Management and Decision Making},
  howpublished = {EasyChair Preprint 13357},
  year      = {EasyChair, 2024}}