How Artificial Intelligence is Revolutionizing the Banking Sector: The Applications and Challenges-Reference-Cited by-同舟云学术

How Artificial Intelligence is Revolutionizing the Banking Sector: The Applications and Challenges

Published:2023-09-08 Issue: Volume: Page:166-170
ISSN:2321-5763
Container-title:Asian Journal of Management
language:en
Short-container-title:AJM

Author:

Saroj Mithra Alavalapati¹,Charan Duddukuru Venkata¹,K S Manu²

Affiliation:

1. Student, School of Business and Management, Christ (Deemed to be) University, Bangalore.

2. Assistant Professor, School of Business and Management, Christ (Deemed to be) University, Bangalore.

Abstract

Artificial Intelligence (AI) has emerged as a transformative technology with the potential to revolutionize various industries, including banking. The study provides an overview of the applications and challenges of AI in the banking sector. It highlights the significant impact of AI on improving operational efficiency, enhancing customer experience, and enabling more accurate risk assessment and fraud detection. The study also explores the growth of machine learning algorithms and overview of Application Programming Interface (API)-driven banking ecosystems. However, the adoption of AI in the banking sector also presents certain challenges, such as data privacy and security concerns, ethical considerations, and the need for effective regulation.

Publisher

A and V Publications

Subject

Colloid and Surface Chemistry,Physical and Theoretical Chemistry

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