Artificial intelligence, specifically large language models and generative AI, has dramatically changed the finance industry. According to a few research studies, the current article discusses some of those findings that provided insight into different applications of artificial intelligence in the sector of financial operations and improved predictive analytics, operational efficiency, and quality in decision-making processes. Most critical findings point toward the efficiency of LLMs, where it has achieved automation, financial analysis improvements, and compliance with enforcement standards in their usage of such technologies, as toward most security concerns, privacy, and ethical perspectives. Specifically, the long-term implications for financial decision-making and the potential consequences arising from the use of such technologies from an ethical perspective stand out starkly as red flags of concern. Thus, the review brings new knowledge in the sphere of AI in finance and grounds further justification to be done with proper research motives toward complete responsible development of AI.