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@article{187121,
        author = {Mr. Dhanush.P and Mr. Chethan P M and Mrs. Vidyashree M},
        title = {A Study on Role of AI in transforming the financial sector},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {12},
        number = {6},
        pages = {3675-3679},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=187121},
        abstract = {Finance has always been driven by numbers, but in the age of Artificial Intelligence (AI), it is increasingly being driven by intelligence itself. Artificial Intelligence (AI) is reshaping finance across retail and corporate banking, capital markets, insurance, payments and central banking. AI systems — from classical machine learning to large language models and agentic systems — improve decision speed and scale, personalize services, automate routine work, and enable novel risk models. At the same time, AI creates new operational, model, concentration and systemic risks that require governance, robust data and regulatory coordination. 
Artificial Intelligence (AI) is no longer just a futuristic idea — it is already changing how money moves, how loans are approved, how fraud is caught, and how customers interact with banks. This study explores how AI is reshaping the financial sector, from automating routine tasks to offering faster, fairer decisions in lending and investments. It looks at real-life examples where AI has improved fraud detection, enhanced customer service through catboats, and made back-office processes more efficient.
At the same time, the study highlights important challenges — like the risk of biased decisions, over-reliance on technology, and the need for human oversight. By combining insights from research papers, industry reports, and case studies, the paper aims to provide a clear picture of both the opportunities and the risks. The findings suggest that AI can make finance more inclusive, efficient, and secure if implemented responsibly, with strong governance and ethical guidelines.},
        keywords = {Artificial intelligence, Finance, Technology, Opportunities, and Challenges.},
        month = {November},
        }