Smarter Money: How AI is Transforming Everyday Finance for Individuals and Businesses
DOI:
https://doi.org/10.47941/ijce.2993Keywords:
Artificial Intelligence, Financial Technology, Risk Management, Automated Banking, Predictive AnalyticsAbstract
The integration of Artificial Intelligence into financial operations has revolutionized traditional banking and financial management models, opening up unprecedented opportunities for both individuals and businesses. This transformation extends beyond conventional algorithmic trading to reshape everyday financial tasks, from personal budgeting to enterprise-level risk management. AI-powered systems have demonstrated impressive capabilities in transaction processing, fraud detection, and regulatory compliance, while also reducing operational costs and improving accuracy rates. Personal finance applications now leverage machine learning to deliver personalized budgeting solutions and optimize bill payments, while businesses benefit from enhanced accounting automation and advanced payroll management systems. The use of AI in credit risk assessment and fraud prevention has significantly strengthened security across financial institutions. These advancements point to a future in which AI functions not merely as an automation tool, but as a strategic partner in financial decision-making—fundamentally transforming how individuals and organizations manage their financial activities.
Downloads
References
GlobeNewswire, "Generative Artificial Intelligence in Financial Services Strategic Business Report 2025: Global Market to Grow by $16.2 Billion During 2024-2030, Expansion of AI Chatbots Creates New Opportunities," 2025.[Online]. Available: https://www.globenewswire.com/news-release/2025/03/19/3045626/28124/en/Generative-Artificial-Intelligence-in-Financial-Services-Strategic-Business-Report-2025-Global-Market-to-Grow-by-16-2-Billion-During-2024-2030-Expansion-of-AI-Chatbots-Creates-New-.html
Sailesh Sewpaul, "AI In Banking: Enhancing Revenue Streams, Customer Experience And Operating Efficiencies," Forbes, 2025 [Online]. Available: https://www.forbes.com/councils/forbesbusinesscouncil/2025/03/12/ai-in-banking-enhancing-revenue-streams-customer-experience-and-operating-efficiencies/
The Business Research Company, "Key Insights into the AI-Powered Personal Finance Management Market: Trends, Growth Rate, and Opportunities Through 2034," 2025. [Online]. Available: https://blog.tbrc.info/2025/05/ai-powered-personal-finance-management-market-3/
Mohit Jain and Arjun Srihari, "AI DRIVEN PERSONAL FINANCE MANAGEMENT TOOLS," International Journal of Novel Research and Development, 2024. [Online]. Available: https://ijnrd.org/papers/IJNRD2412187.pdf
Darko B. Vuković, Senanu Dekpo-Adza and Stefana Matović, "AI integration in financial services: a systematic review of trends and regulatory challenges," Nature, 2025. [Online]. Available: https://www.nature.com/articles/s41599-025-04850-8
Blue Prism, "The Future of AI in Financial Services," 2025. [Online]. Available: https://www.blueprism.com/resources/blog/the-future-of-ai-in-finance-financial-services/
ADEDEJI M. ISHOLA1 and MUSA S. OBANSA, "The Impact of Artificial Intelligence on Financial Risk Management," IRE Journals, 2024. [Online]. Available: https://www.irejournals.com/formatedpaper/1706188.pdf
Navdeep Singh Gill, "AI and the Future of Risk Management in Financial Institutions," Xenonstack, 2025. [Online]. Available: https://www.xenonstack.com/blog/risk-management-in-financial-institutions
Coherent Solutions, "The Role of AI in Financial Modeling and Forecasting," 2025. [Online]. Available: https://www.coherentsolutions.com/insights/ai-in-financial-modeling-and-forecasting#:~:text=In%202023%2C%20the%20financial%20services,30.6%25%20from%202024%20to%202030.
Sarah Lee, "AI Banking Revolution: Shaping Finance for Next 5 Years," Number Analytics, 2025. [Online]. Available: https://www.numberanalytics.com/blog/ai-banking-revolution-shaping-finance-next-5-years
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Srinivasan Ravishankar

This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.