With the proliferation of artificial intelligence in industry, the financial sector has become a major adopter of this cutting-edge technology. While artificial intelligence has the potential to revolutionize financial business models and markets, producing efficiencies, and expanding product offerings, there are also concerns that artificial intelligence could increase risks and give rise to new challenges in this sector. This paper investigates the evolution of artificial intelligence in the finance sector and examines the uses, benefits and drawbacks of artificial intelligence as applied to this sector. The study will also present some case studies to show what financial companies are doing with artificial intelligence.
AI strategies; Use cases; Benefits and Challenges; Financial Services Industry