Intelligent Finance: Exploring the Convergence of AI and Fintech

According to the review article, the introduction of Artificial Intelligence to the Financial Technology is revolutionary and poses opportunities and challenges. AI?s potential is harnessed through many essential processes of a Fintech business such as algorithmic trading, fraud detection and prevention, credit scoring and lending, customer service, and, financial advising which is the focus of this article. These examples are just some of the possible applications of AI to address all the business needs of a financial institution AI has the potential to improve the way businesses and customers interact with global financial services. These processes raise dark business and societal ethics implications. Some of these concerns are information and data security, data governance, risk management, and compliance, legal frameworks and laws. The article discusses the twofold quest for growth. The most important aspect of any implementation is the culture of the organization that is required if AI and Fintech work together. The paper also highlights trends that will occur in the perspectives of AI and Fintech integration, AI ethics, the power of AI as a service, and the integration of financial services as well.