Artificial Intelligence (AI) is used by financial services providers for risk assessment, fraud detection and management, financial decision-making, determining future patterns in the market, trading and investments, personal financial management, compliance, anti-money laundering and fraud detection, payments processing, and personalization of customer experiences.
Several processes can be automated to save the productivity and performance of employees in the finance sector. Accounts payable, accounts receivable, reconciliations, handling rule-based disputes, invoice verification, planning, budgeting, forecasting, treasury process, operational and general accounting etc. are some of the popular automation use cases in vogue, currently.