Market Development and Ensuring Financial Stability through the Implementation of Artificial Intelligence

Abstract: Artificial Intelligence is the most growing branch of computer science and most of the service sectors for obtaining benefits from its application. This extended research article provides a general role of AI in financial services and its definition in practical scenarios. The research work is mostly qualitative and does not include any data analysis for its results. This article describes the major benefits derived by the practices of AI in general in the banking and financing firms. For the study, some examples of the role of AI in financial firms are analyzed and results are given from the positive observation shared by them in their balance sheets and firms’ annual reports. AI benefits both service providers and users. This research report explains the advantages of AI in managing finances and also describes how AI can aid in market development. Keywords: Financial Stability; Artificial Intelligence; Financial Services; Market Development; Annual Reports