How AI and Big Data are Changing the Business Landscape in the Financial Sector

The integration of Artificial Intelligence (AI) and Big Data is revolutionizing the financial sector by transforming operations, enhancing decision-making, and enabling predictive insights. This paper explores the profound impact of these technologies on financial services, emphasizing applications in risk management, fraud detection, customer experience, and regulatory compliance. It also addresses challenges such as data privacy, algorithmic bias, and integration with legacy systems. By incorporating additional insights from recent advancements and related domains, the article offers a comprehensive roadmap for financial institutions to harness the transformative power of AI and Big Data while mitigating associated risks.