Importance of Using AI and ML in the Financial Sector for Risk Prevention and Management DOI

Tarun Kumar Vashishth,

Vikas Sharma,

Vineet Kaushik

et al.

Advances in finance, accounting, and economics book series, Journal Year: 2024, Volume and Issue: unknown, P. 509 - 530

Published: Dec. 13, 2024

The financial sector has increasingly recognized the transformative potential of Artificial Intelligence (AI) and Machine Learning (ML) for risk prevention management. This paper explores pivotal role these technologies play in enhancing accuracy efficiency assessment, fraud detection, regulatory compliance. By leveraging vast datasets sophisticated algorithms, AI ML can identify patterns anomalies that traditional methods might overlook, thus providing a more robust framework mitigating risks. integration into systems facilitates real-time data analysis predictive modeling, enabling institutions to proactively address threats optimize decision-making processes. Moreover, adoption supports development innovative products services, ultimately contributing resilient secure ecosystem. study also highlights key applications, benefits, challenges associated with

Language: Английский

AI Innovations in Market Risk Analysis and VaR Modelling DOI

V. Saravanakrishnan,

M. Nandhini,

P. Palanivelu

et al.

Advances in computational intelligence and robotics book series, Journal Year: 2024, Volume and Issue: unknown, P. 37 - 58

Published: Oct. 18, 2024

This chapter examines how AI is transforming financial risk analysis and valuation. Traditional models often overlook tail risks complex market dynamics, but introduces innovative techniques that enhance assessment monitoring, addressing the shortcomings of VaR models. It delves into fundamentals, particularly deep learning machine learning. offers advanced methods for data processing, predictive modeling, feature engineering, all crucial integrating estimation process. The also emphasizes significance in management, especially regulatory compliance, by exploring capabilities like natural language processing portfolio optimization, which are vital adapting to evolving regulations. provides a comprehensive overview AI-based analysis, highlighting AI's essenAI's role helping institutions navigate volatile markets increased scrutiny. discusses current challenges future directions, showcasing pivotAI'sontribution industry.

Language: Английский

Citations

0
Importance of Using AI and ML in the Financial Sector for Risk Prevention and Management DOI

Tarun Kumar Vashishth,

Vikas Sharma,

Vineet Kaushik

et al.

Advances in finance, accounting, and economics book series, Journal Year: 2024, Volume and Issue: unknown, P. 509 - 530

Published: Dec. 13, 2024

The financial sector has increasingly recognized the transformative potential of Artificial Intelligence (AI) and Machine Learning (ML) for risk prevention management. This paper explores pivotal role these technologies play in enhancing accuracy efficiency assessment, fraud detection, regulatory compliance. By leveraging vast datasets sophisticated algorithms, AI ML can identify patterns anomalies that traditional methods might overlook, thus providing a more robust framework mitigating risks. integration into systems facilitates real-time data analysis predictive modeling, enabling institutions to proactively address threats optimize decision-making processes. Moreover, adoption supports development innovative products services, ultimately contributing resilient secure ecosystem. study also highlights key applications, benefits, challenges associated with

Language: Английский

Citations

0