Artificial Intelligence and Machine Learning in Financial Services to Improve the Business System

Machine learning is coming as a significant encroachment in the financial services industry. Finance has always been about data and is considered a complex field of study that includes knowledge from disciplines such as mathematics and statistics to human psychology and linguistics. Due to this, it is difficult to manage the various day-to-day challenges associated with finance, such as financial glitches attributed to human errors. The financial sector has employed machine learning for a myriad of purposes and its excellent applications. The work highlights the advancement of different learning techniques in financial services for data science. This chapter gives comprehensive prospects on a study accomplished in the financial industry after applying digital financial solutions over time and an extensive view of this distinctive research area. The organization comprises an introduction, motivation, and background that entails a block diagram of learning techniques, benefits, and various issues related to implementing machine learning techniques in the financial domain. Other things covered in this chapter are various datasets used by different researchers, and its focal point is to present a systematic survey of various applications of finance using artificial intelligence and finally expose a synthesis analysis based on the findings along with their benefits and issues. Overall, this chapter gives conscious and constructive assistance to researchers working towards the sustainable evolution of the finance industry.