The Future of Finance

Abstract

This book chapter explores the applications and implications of artificial intelligence (AI) in the finance industry. The chapter examines significant areas where AI is utilized in finance, including trading, fraud detection, customer service, portfolio optimization, and risk management. Furthermore, the chapter explores AI's implications and future trends in finance. This would offer a comprehensive understanding of the applications and implications of artificial intelligence and its importance in financial aspects, including models and techniques awareness. Design/methodology/approach: AI use in finance will be comprehensively examined by a review of literature, industry reports, and case studies. The advantages of using AI in finance will be highlighted, for instance, cost reduction, improved efficiency, and decision-making. Existing literature on using AI in finance will be examined through future trends and AI adoption.