Abstract
Artificial intelligence (AI) is a ground-breaking innovation that has significantly changed a number of sectors. Particularly the banking industry has been fast to embrace and apply AI solutions. AI has the power to revolutionize how in- institutions engage with their clients, control risks, and streamline processes. This study examines the impacts of AI on the banking sector, emphasizing both the positive and negative aspects. It starts by analyzing the status of the banking sector today and how AI is being applied to better risk management, automate procedures, and improve client experience. The following section of the study covers the possible benefits and drawbacks of AI in banking, including cost savings, enhanced client experience, compliance, and fraud protection, and better security. The study is concluded with a review of the possible effects of AI on financial organizations and their clients in the future of banking.
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Jamie, N.H.A. (2023). Artificial Intelligence for Easing Financial Analyses. In: Yaseen, S.G. (eds) Cutting-Edge Business Technologies in the Big Data Era. SICB 2023. Studies in Big Data, vol 136. Springer, Cham. https://doi.org/10.1007/978-3-031-42455-7_9
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DOI: https://doi.org/10.1007/978-3-031-42455-7_9
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