Artificial Intelligence in Finance: Opportunities, Challenges, and Future Prospects

One significant technological advancement is artificial intelligence (AI), which encompasses machine learning (ML) and algorithm language. Numerous industries, including automotive, healthcare, gaming, robotics, finance, surveillance, entertainment, space exploration, agriculture, e-commerce, social media, and more, find it popular. Its goal is to create an independent, intelligent system. With a brief introduction, our study focuses on the usage of AI in the finance industry, including banking, investing firms, and insurance organizations. The paper outlines the difficulties and their effects in the financial industry, along with their advantages and disadvantages. With few suggestions, the report also shows how artificial intelligence will alter the banking sector in the future.