Artificial Intelligence for Risk Mitigation in the Financial Industry

Ambrish Kumar Mishra, PhD, is a scholar in the School of Management at Gautam Buddha University in Greater Noida, Uttar Pradesh, India. He obtained his Master’s in banking services from Amity University Noida, India in 2014, and has spent six years in the banking industry teaching and as a mutual fund and GST trainer with the BFSI sector skill council in India. He has published research papers and received various awards in his field of research. Shweta Anand, PhD, is the dean of the School of Management at Gautam Buddha University in Greater Noida, Uttar Pradesh, India. She earned a PhD in Wealth Management and has 30+ years of experience of which 14 years were in industry. She has won several awards and accolades and has published numerous papers in international and national journals and conferences. Narayan C. Debnath, PhD, is the Founding Dean of the School of Computing and Information Technology at Eastern International University (EIU), Vietnam where he also serves as the Head of the Department of Software Engineering. He has been the Director of the International Society for Computers and their Applications (ISCA), USA since 2014 as well as serving as a Full Professor of Computer Science at Winona State University, Minnesota, USA for 28 years. He is the author or co-author of more than 500 publications in numerous refereed journals and conference proceedings as well as the editor of several books. Purvi Pokhariyal, PhD, is the Campus Director at the National Forensic Sciences University of the Delhi Campus, India. She has more than 25 years of academic and industry experience in the field of law and justice administration. She has published about 50 papers in national and international journals and conferences. Archana Patel, PhD, is an assistant professor at the National Forensic Sciences University, Delhi, India. She completed her PhD in Computer Applications and a PG degree from the National Institute on Technology in Kurukshetra, India in 2020 and 2016, respectively. Dr. Patel has received various awards for her presentation of research work, and published more than 40 papers in peer-reviewed journals and conferences, as well as edited 10 books. Her research interests are in ontological engineering, semantic web, big data, expert systems, and knowledge warehouses.

• Preface xvii1 Artificial Intelligence in Risk Management 1Pankaj Yadav, Priya Gupta, Rajeev Sijariya and Yogesh Sharma2 Application of Artificial Intelligence in Risk Assessment and Mitigation in Banks 27Ankita Srivastava, Bhartrihari Pandiya and Navtika Singh Nautiyal3 Artificial Intelligence and Financial Risk Mitigation 53Raja Rehan, Auwal Adam Sa'ad and Razali Haron4 Artificial Intelligence Adoption in the Indian Banking and Financial Industry: Current Status and Future Opportunities 81Deepthi B. and Vikram Bansal5 Impact of AI Adoption in Current Trends of the Financial Industry 103S. C. Vetrivel, T. Mohanasundaram, T. P. Saravanan and R. Maheswari6 Artificial Intelligence Applications in the Indian Financial Ecosystem 133Vijaya Kittu Manda and Khaliq Lubza Nihar7 The Extraction of Features That Characterize Financial Fraud Behavior by Machine Learning Algorithms 159George X. Yuan, Yuanlei Luo, Lan Di, Yunpeng Zhou, Wen Chen, Yiming Liu and Yudi Gu8 A New Surge of Interest in the Cybersecurity of VIP Clients is the First Step Toward the Return of the Previously Used Positioning Practice in Domestic Private Banking 187Gusev Alexey9 Determinants of Financial Distress in Select Indian Asset Reconstruction Companies Using Artificial Neural Networks 209Shashank Sharma and Ajay Kumar Kansal10 The Framework of Feature Extraction for Financial Fraud Behavior and Applications 229George X. Yuan, Shanshan Yang, Lan Di, Yunpeng Zhou, Wen Chen and Yuanlei Luo11 Real-Time Analysis of Banking Data with AI Technologies 261S. C. Vetrivel, T. Mohanasundaram, T. P. Saravanan and R. Maheswari12 Risks in Amalgamation of Artificial Intelligence with Other Recent Technologies 289K. Sathya and A. Hency Juliet13 Exploring the Role of ChatGPT in the Law Enforcement and Banking Sectors 327Shubham Pandey, Archana Patel and Purvi PokhariyalReferences 345Index 349