Affiliation:
1. Business School, Holy Spirit University of Kaslik, Jounieh P.O. Box 446, Lebanon
2. College of Business Administration, Rafik Hariri University, P.O. Box 10, Damour-Chouf 2010, Lebanon
Abstract
This study explores the adoption and impact of artificial intelligence (AI) and machine learning (ML) in financial markets, utilizing a mixed-methods approach that includes a quantitative survey and a qualitative analysis of existing research papers, reports, and articles. The quantitative results demonstrate the growing adoption of AI and ML technologies in financial institutions and their most common applications, such as algorithmic trading, risk management, fraud detection, credit scoring, and customer service. Additionally, the qualitative analysis identifies key themes, including AI and ML adoption trends, challenges and barriers to adoption, the role of regulation, workforce transformation, and ethical and social considerations. The study highlights the need for financial professionals to adapt their skills and for organizations to address challenges, such as data privacy concerns, regulatory compliance, and ethical considerations. The research contributes to the knowledge on AI and ML in finance, helping policymakers, regulators, and professionals understand their benefits and challenges.
Subject
Finance,Economics and Econometrics,Accounting,Business, Management and Accounting (miscellaneous)
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