Open AccessHow Artificial Intelligence is Transforming the Banking Industry: Data Analysis Review
Author(s) -
Akash Yadav
Publication year - 2021
Publication title -
international journal of advanced research in science, communication and technology
Language(s) - English
Resource type - Journals
ISSN - 2581-9429
DOI - 10.48175/ijarsct-1707
Subject(s) - artificial intelligence , computer science , field (mathematics) , domain (mathematical analysis) , component (thermodynamics) , robotics , productivity , marketing and artificial intelligence , applications of artificial intelligence , human intelligence , big data , business intelligence , data science , knowledge management , robot , intelligent decision support system , data mining , mathematics , mathematical analysis , physics , macroeconomics , pure mathematics , economics , thermodynamics
AI or Artificial Intelligence, is one of the foremost technologies, which has its potential impact on almost every field. It is an immensely integral component of Computer Science. A technology that intends to provide computer systems and machines the ability to carry out and execute tasks without manual intervention, it simply enables them to work smartly. In simple words, we can say that Artificial Intelligence is about giving human intelligence to machines. This is one of the most noteworthy and remarkable aspects of AI. It plays a significant role in making machines capable of making decisions and that too, faster and better than humans. And all these decisions are data-driven. Artificial Intelligence (AI) is a prominent technology that is continuously evolving day by day, due to which it has become so much prevalent. It is beneficial in diverse fields such as education. business, marketing, healthcare, medicine, agriculture, automobiles, robotics, etc. AI is also quite predominant in the banking and finance industries. AI technology facilitates banking processes as it helps automating most of the tasks, if not entirely, minimizing manual requirements. In this research paper, we will see how implementation of artificial intelligence is assisting the banking and financial industry by improving their operational efficiency and enhancing their productivity. The research paper document also consists of a survey study done through data analysis domain for determining the use of artificial intelligence in banks who have adopted the technology.