The Future of Finance and How AI is Transforming the Industry

Abstract

Artificial Intelligence or AI is usually known as “machine intelligence” because it is used to simulate human brain in machines. It is a brainpower adopted by machines in contrast with natural language processing from humans. AI has evolved rapidly from Google Assistant to self-driving vehicles. There are basically two important concepts of AI – (1) It studies human mind like their thought process and (2) It represents such processes using machine learning (ML). Hence, this study is aimed to examine the impact of AI on finance industry in this day and age, along with the way it is transforming the finance sector and strategies for organizations to use AI to boost profitability.