Artificial intelligence (AI) has become a buzzword in the financial services industry, with many firms exploring the use of this technology to improve their operations and services. AI has the potential to revolutionize the way financial services are delivered, but it also poses risks and challenges that need to be addressed.
One of the key benefits of AI in financial services is its ability to process vast amounts of data quickly and accurately. This can help financial institutions to make better decisions, identify patterns and trends, and improve risk management. For example, AI can be used to analyze customer data and identify potential fraud or money laundering activities.