 The Influence of Artificial Intelligence on the Financial IndustryXinyu Xu ()
A chapter in Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022), 2023, pp 393-400 from Springer Abstract: Abstract It can be seen that artificial intelligence has brought a lot of positive impacts to the financial industry but has also brought a lot of risks. Therefore, this paper focuses on analyzing the advantages and disadvantages of AI for the financial industry and puts forward measures to reduce the negative impact. AI used in the finance industry brings both advantages and disadvantages. As for the benefits, AI improves the customer experience and increases efficiency. Also, AI enhances the ability to control risk for companies. However, the risks that AI brings to the finance industry are hard to avoid, including security risk, model risk, and market risk. The trend that AI is used in finance is inevitable, although AI brings risks to this industry. And, there are many successful cases of benefits from using AI in finance. Keywords: Artificial Intelligence; AI Model Risk; Cyber Security; Market Risk; Financial Supervision (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-098-5_45 Ordering information: This item can be ordered from DOI: 10.2991/978-94-6463-098-5_45 Access Statistics for this chapter More chapters in Advances in Economics, Business and Management Research from Springer |
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