Artificial Intelligence-Enhanced Financial Systems: Applications and Development Trends

Artificial intelligence (AI) has broad applications in financial systems, significantly enhancing the fundamental productivity and labor efficiency of the financial industry. This article comprehensively reviews the applications of AI in traditional financial sectors, including its role in empowering banks with intelligent risk control, robo-advisory services, smart customer acquisition, and automated payment systems. Furthermore, AI demonstrates extensive application scenarios and demand in securities, insurance, private equity, funds, and investment industries. The article also provides an in-depth analysis of how generative AI, particularly large financial models, is reshaping the financial sector. This article argues that generative AI elevates the overall quality of foundational services, improves production efficiency, reduces reliance on low-end production lines and service labor, and optimizes resource allocation. By minimizing redundant and repetitive tasks, it enhances labor productivity. Consequently, the financial industry is transitioning from a “Finance + AI” model to an “AI + Finance” paradigm. Moreover, multimodal and generative AI technologies are expected to generate new data, advancing novel research methodologies in finance. This evolution will drive theoretical progress in financial decision-making, asset pricing, and other key areas within financial systems.