Artificial Intelligence and Its Use in Financial Markets

Lilia Mirgaziyanovna Yusupova, Irina Arkadevna Kodolova, Tatyana Viktorovna Nikonova, Madina Irekovna Agliullina and Zarina Irekovna Agliullina

International Journal of Financial Research, 2020, vol. 11, issue 5, 353-358

Abstract: The global financial system is currently at a new stage of its development, which is characterized by the introduction of information and communication technologies in all financial spheres. They allow improving business processes and company management and the process of providing services, as they enable organizations to receive more information about their customers and consumers, therefore, to provide better financial services that meet the requirements of customers.In the process of digitalization of the economy, a large role is played by banking organizations. In the conditions of increased competition in the market, banks are forced to continually improve their activities and introduce the most advanced technologies for carrying out business processes and working with clients. One of the most state-of-the-art technologies is artificial intelligence and Big Data. This technology is a combination of technologies targeted at processing vast amounts of data, and the ability to process fast incoming data in large volumes.

Keywords: digital financial services; artificial intelligence; digital banking services; online banking; digital banking; internet banking; remote service (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:11:y:2020:i:5:p:353-358

DOI: 10.5430/ijfr.v11n5p353

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