The Impact of Artificial Intelligence on Risk Management in Banking and Finance
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118-128
Digital Object Identifier:
10.58578/mjaei.v2i2.5195
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Authors:
Olayiwola Blessing Akinnagbe1, Taiwo Abdulahi Akintayo2, Arinze Betsy Adanna3 
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Abstract
This research explores the transformative role of Artificial Intelligence (AI) in risk management within the banking and finance sector. It examines how AI technologies such as machine learning, natural language processing, and predictive analytics are enhancing risk assessment, fraud detection, and regulatory compliance. The study also highlights challenges such as data privacy, algorithmic bias, and the need for skilled professionals. The findings suggest that AI is revolutionizing risk management but requires careful implementation to mitigate associated risks.
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Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
References
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