February 2025
Intermediate to advanced
512 pages
13h 16m
English
book
Generative Artificial Intelligence in Finance
by Pethuru Raj Chelliah, Pushan Kumar Dutta, Abhishek Kumar, Ernesto D. R. Santibanez Gonzalez, Mohit Mittal, Sachin Kumar Gupta
Content preview from Generative Artificial Intelligence in Finance
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3Future Approach Generative AI, Stylized Architecture, and its Potential in Finance
Abhinna Baxi Bhatnagar1, Abhaya Nanad1, Anshul Kumar1* and Rakesh Kumar2
1IIMT College of Management, Greater Noida, Uttar Pradesh, India
2Department of CSE (IoT), GNIOT (Engg. Institute), Greater Noida, Uttar Pradesh, India
Abstract
The financial industry is experiencing a rapid and widespread adoption of artificial intelligence (AI) due to technological advancements and increased competition. The emergence of generative AI (GenAI) is expected to further accelerate this trend, representing a significant advancement in AI technology with applications across various financial domains. However, the integration of AI in finance poses inherent risks that require careful consideration, including embedded bias, privacy concerns, outcome opacity, performance robustness, cybersecurity threats, and systemic risks. Although GenAI holds promising capabilities, it has the potential to exacerbate existing risks and introduce new ones. It is crucial for financial institutions and regulatory bodies to take a proactive approach in addressing these challenges to ensure the responsible and secure integration of GenAI into the financial sector. This paper aims to offer preliminary insights into the inherent risks associated with GenAI and its potential impact on the financial industry.
Keywords: GenAI (generative artificial intelligence), EB (embedded bias), PCs (privacy concerns), OO (outcome opacity), PR (performance ...
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