Examining The Advantages and Challenges of Implementing Machine Learning Artificial Intelligence Technologies in the Banking Industry
Abstract
One of the key factors driving the growth of the modern economy is the development of digital technologies in the financial market. Digitalization covers distinct and complex sectors, leading to significant savings in human resources. The financial system in general, and the banking sector in particular, are evolving in line with the requirements of the modern digital economy. With digital transformation, business models and concepts for the development of the banking sector are being improved. The digital transformation process is considered the use of digital technologies to enhance business models and improve their efficiency. The adoption of digital technologies enhances the ways banks, the government, and potential customers interact.
In this article you read about:
1.Artificial Intelligence and the Benefits of AI Implementation in Banking Business
2. Challenges, and Consequences of AI Implementation in Banking Business
This study was conducted at the Monetary and Currency Think Tank by Fatemeh Arianfar in the year 2024.
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