Generative Artificial Intelligence in finance

Vinay Kumar Deeti *

Arrowstreet Capital LP.
 
Review
International Journal of Science and Research Archive, 2024, 12(01), 3206-3215.
Article DOI: 10.30574/ijsra.2024.12.1.1091
Publication history: 
Received on 25 February 2024; revised on 06 April 2024; accepted on 08 April 2024
 
Abstract: 
Generative Artificial Intelligence drives substantial financial industry transformations because it helps develop and automate high-quality risk analysis models from both data-based selection and detailed automated operations. Through generative AI platforms financial institutions receive protection against fraud and achieve both automated trading solutions and custom financial systems using synthetic data platforms. Generative AI creates three core problems for financial services when used in their operations including model biases alongside privacy risks for safeguarding data along with conflicts in compliance regulations. The research investigates both practical usage of generative AI within financial institutions and the essential ethical issues they must solve. Research on contemporary financial practice changes concentrates on reviewing recent industrial studies about technological innovations and market adjustments.
 
Keywords: 
Generative AI; Financial Technology; Algorithm Transaction; Fraud Control; Artificial Data; Enterprise Risks
 
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