USE OF ARTIFICIAL INTELLIGENCE IN FINTECH TOOLS IN TERMS OF RISK MANAGEMENT

Abstract

The financial sector, which is based on knowledge, expertise, and technology, it is a sector that
continues its activities by taking advantage of developments and opportunities, at the same time is
under the pressure of these developments and is often one of the first implementers of them. As in
every technological development, the financial sector is a sector that is forced to transform the most
by artificial intelligence algorithms, which provide radical changes and transformations.
Artificial intelligence (AI) is increasingly being used in the field of fintech risk management to help
financial institutions identify, assess, and mitigate financial risks such as Fraud Detection, Credit
Risk Assessment, Operational Risk Management, and Market Risk Management.
Overall, the use of AI in fintech risk management has the potential to revolutionize the way that
financial institutions manage risk by providing more accurate and sophisticated risk assessments,
reducing the time required to identify and mitigate risks, and improving the efficiency of the risk
management process.
In this study, it is aimed to determine the current situation and make inferences for the future by
examining the studies on the use of artificial intelligence in the field of fintech risk management.
For this purpose, a literature review was conducted on artificial intelligence algorithms used in
fintech tools in terms of risk management. It is thought that the study will contribute to the literature
in terms of guiding future research.