Application and Innovation of Traditional Financial Big Data Based on AI Algorithm

Under the background of big data era, online banking has achieved rapid development and has undergone qualitative changes. Online banking is a new financial form. The application of big data has promoted the development of online banking to a great extent, provided strong technical support for it, and improved the business model of online banking. The application of AI (artificial intelligence) in insurance, credit reporting, asset allocation, big data risk control and other financial fields has brought new changes to the financial industry. As a brand-new technology model, the combination of big data and AI with economy has realized the deep excavation of various resources, which can ensure the quality and efficiency of economic development and reduce the comprehensive cost, thus effectively enhancing the overall competitiveness of China's economy and gaining more initiative in the fierce international competition. This paper investigates the current situation of big data application in online banking, analyzes its potential value and main challenges, and discusses the traditional financial big data application and innovation path based on AI algorithm.