A Comprehensive Review of AI-Enabled Financial Domain: Past, Present & Future Aspects

A Comprehensive Review of AI-Enabled Financial Domain: Past, Present & Future Aspects

연구 분야: Artificial Intelligence

학회: 2023 3rd International Conference on Innovative Sustainable Computational Technologies (CISCT)

In recent years there is an ever increasing demand for digitisation to increase efficiencies and reduce the need for human intervention. The pandemic crisis has exponentially increased and promoted the digitization trends such as incorporation of Artificial Intelligence. Two interconnected technologies Artificial Intelligence and Machine Learning are further expected to drive competitive advantages for industries such as finance. Historically, reviewing the economics has evolved from qualitative to quantitative, that is, from working on a small sample data to processing vast amounts of data. The arrival of artificial intelligence (AI) is expected to cause major changes in the existing paradigm of the audit profession, ensuring greater reliability and security in financial statement analysis. Identifying the benefits of AI, investors are adopting deep learning models to forecast and assess stock and currency markets. AI deep learning models aid in the realization of intelligent decision-making in economics due to their superiority in learning intrinsic law and representational level. With the advancement of deep learning, we are convinced that economic decision-making will become more intelligent, which will enable potential of AI taking the roles such as financial advisor and insurance advisor. Unfortunately, no study has provided a comprehensive examination of this research to far, and hence with an aim to tackle this challenge, we provide an in-depth overview of Artificial Intelligence & Machine Learning in Finance, history of finance, its evolution, past developments, latest trends around the world and research directions while offering outline of latest existing literature and existing applications seen around the world as well as potential applications. We have also identified the challenges faced by researchers to obtain & process quality financial data. Based on the previous analysis, we also highlight prospective future research pathways in this field. The p... Show More