APPLICATION OF ARTIFICIAL INTELLIGENCE IN INVESTMENT BANKS

Vedapradha.r () and Hariharan Ravi ()
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Vedapradha.r: Department of Commerce, St. Joseph’s College (Autonomous), Tiruchirappalli - 620002
Hariharan Ravi: Department of Commerce & Management, St. Joseph’s College of Commerce (Autonomous), Bangalore

Review of Economic and Business Studies, 2018, issue 22, 131-136

Abstract: Banks are automating their processes, migrating their infrastructure and applications to the cloud to create a seamless customer journey. Transformative technology has enabled banks and financial institutions to automate their operations based on advanced data-driven. Banks are adopting AI based anti-money-laundering, anti-fraud, compliance, credit-underwriting and smart contracts technology in their operations. These applications have been embraced by the investment banks as regulatory framework are failing to combat conventional way in combating against money laundering. Artificial Intelligence will focus on cognitive application in functional areas of business along with investment and compliance sectors of financial services industry. Adopting AI based anti-money-laundering, anti-fraud, compliance, credit-underwriting and smart contracts technology in their operations.

Keywords: Artificial Intelligence (AI); Business Intelligence (BI); Technology Enabled Service (TES); and Datafication. (search for similar items in EconPapers)
JEL-codes: G24 (search for similar items in EconPapers)
Date: 2018
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