International Journal of Science, Engineering and TechnologyAuthors: Sambhav Khatri, Tushar Antil, Manik Bansal
Abstract: This study investigates the impact of artificial intelligence (AI) and machine learning (ML) on the financial services sector, focusing on their applications, benefits, challenges, and ethical considerations. Employing a mixed-methods approach, it combines quantitative surveys of financial professionals with qualitative thematic analysis of existing literature to provide a comprehensive understanding of AI/ML adoption and performance. Major findings reveal significant improvements in risk management, fraud detection, and customer personalization, alongside persistent challenges in data quality, model interpretability, and ethical governance. This research contributes original empirical insights and theoretical implications, offering actionable recommendations for strategic AI integration in financial institutions.
DOI: http://doi.org/10.5281/zenodo.17707771
