Leveraging Generative AI to Streamline Account Approval Processes and Improve the Precision of Risk Assessment in Financial Services
Year: 2024
Type: article
Abstract: The research looks at the way generative AI can change the way financial institutions approve accounts and assess risks. The research examines the issues that financial institutions have in the time of moving to AI-based automation, including the existence of data storage tower and legal requirements. The research looks at the way generative AI models help increase the accuracy of predicting risks by using real-time data analysis. The research looks at leading-edge technologies, including transformer architectures, that make AI better able to handle big workloads. The research makes recommendations for including generative AI in risk assessment systems, with special attention paid to regulations, transparency, and protection of data.
Author: VenuBabu Paruchuri
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6893295674
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