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A Study of AI in Finance

Authors:

-Dr. Pratiksha Mishra - Associate Professor, Amity Business School, Amity University, Raipur, Chhattisgarh. Email- pmishra1@rpr.amity.edu

-Abhijeet Sinha , Student, Amity Business School, Amity University, Raipur, Chhattisgarh. Email- abhijeetsinha911@gamil.com

ABSTRACT: Artificial Intelligence (AI) has emerged as one of the most transformative technologies in the financial sector, reshaping traditional methods of banking, investing, and financial analysis. This research paper explores how AI is being integrated into various areas of finance, including investment management, credit scoring, fraud detection, customer service, and algorithmic trading. The study aims to understand both the advantages and challenges that come with AI implementation in financial institutions.

To achieve this, a survey-based approach was adopted, gathering responses from individuals with varying degrees of awareness about AI in finance. The collected data was analyzed to interpret general awareness levels, the perceived usefulness of AI, and concerns related to ethics, data privacy, and job displacement. The findings reveal that while AI is widely recognized for improving efficiency and accuracy, there are still concerns about trust, regulatory oversight, and the cost of implementation.

This paper concludes that while AI is revolutionizing the financial industry, it is essential to balance innovation with responsibility. The study also highlights the need for further research, awareness programs, and well-defined regulatory frameworks to ensure ethical and inclusive adoption of AI in finance.