The Influence of Artificial Intelligence on the Financial Industry

DOI

10.2991/978-94-6463-098-5_45How to use a DOI?

Keywords

Artificial Intelligence; AI Model Risk; Cyber Security; Market Risk; Financial Supervision

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.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Xinyu Xu
PY  - 2022
DA  - 2022/12/27
TI  - The Influence of Artificial Intelligence on the Financial Industry
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 393
EP  - 400
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_45
DO  - 10.2991/978-94-6463-098-5_45
ID  - Xu2022
ER  -