Generative Artificial Intelligence in Finance
by Pethuru Raj Chelliah, Pushan Kumar Dutta, Abhishek Kumar, Ernesto D. R. Santibanez Gonzalez, Mohit Mittal, Sachin Kumar Gupta
1Artificial Intelligence Application and Research in Accounting, Finance, Economics, Business, and Management
Peterson K. Ozili
Central Bank of Nigeria, Abuja, Nigeria
Abstract
Artificial intelligence is a branch of computer science that develops intelligent machines to perform human tasks. Recently, there has been growing interest in AI applications in professions that have many processes that can be easily automated. There is widespread optimism that AI systems can lead to new innovations or improve existing processes. This study focuses on some applications of artificial intelligence in the accounting, finance, economics, business, and management professions. The study provides a basic understanding of how AI will be useful in the accounting, finance, economics, business, and management professions. The study also offered some insights into the risks posed by the use of artificial intelligence.
Keywords: Artificial intelligence, AI, machine learning, accounting, finance, economics, business, management
1.1 Introduction
This paper presents some applications of artificial intelligence (AI) in the accounting, finance, economics, business, and management professions.
The rise of AI in business can be traced to the rise of financial technology (fintech) [1]. A few decades ago, there was a rapid rise in fintech developments. During this time, innovative technologies were used to deliver financial solutions through software [2]. These technologies were also used to develop software ...
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