Abstract
This study explores the transformative impact of Generative AI on the financial services industry, focusing on key applications such as customer relationship management, fraud detection, algorithmic trading, and risk management. The integration of AI technologies, including machine learning, chatbots, and virtual assistants, has revolutionized decision-making processes, enhanced analytical capabilities, and automated various business operations. The review emphasizes the numerous benefits of AI, ranging from improved customer experiences and personalized banking to efficient fraud detection and risk mitigation. Despite the many advantages, Gen AI's ethical considerations, algorithmic bias, transparency, and potential job displacement pose challenges that warrant careful assessment. Keywords: AI In Finance, Fintech, Customer Experience, Fraud Detection, Algorithmic Trading, Risk Management, Ethical Implications, Financial Innovation
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