Artificial intelligence in Finance: a comprehensive review through bibliometric and content analysis

Artificial intelligence in Finance: a comprehensive review through bibliometric and content analysis

2024 | Salman Bahoo, Marco Cucculelli, Xhoana Goga, Jasmine Mondolo
This paper provides a comprehensive review of the literature on the use of Artificial Intelligence (AI) in finance, using bibliometric and content analysis. The study aims to identify the main research streams and areas that require further investigation. The analysis covers articles published between 1992 and March 2021, focusing on AI applications in finance, such as predictive systems, classification/detection systems, and big data analytics. The selected articles are grouped into ten main research streams, including AI in the stock market, trading models, volatility forecasting, portfolio management, performance evaluation, risk and default valuation, cryptocurrencies, derivatives, credit risk in banks, investor sentiment analysis, and foreign exchange management. The paper highlights the significant growth in the literature since the early 21st century and the increasing adoption of AI in various financial sectors. It also identifies several research questions that remain unanswered, such as the impact of AI on labor markets, the effectiveness of AI in fraud detection, and the integration of AI in regulatory compliance. The study concludes by suggesting future research directions to address these gaps and enhance our understanding of AI's impact on finance.This paper provides a comprehensive review of the literature on the use of Artificial Intelligence (AI) in finance, using bibliometric and content analysis. The study aims to identify the main research streams and areas that require further investigation. The analysis covers articles published between 1992 and March 2021, focusing on AI applications in finance, such as predictive systems, classification/detection systems, and big data analytics. The selected articles are grouped into ten main research streams, including AI in the stock market, trading models, volatility forecasting, portfolio management, performance evaluation, risk and default valuation, cryptocurrencies, derivatives, credit risk in banks, investor sentiment analysis, and foreign exchange management. The paper highlights the significant growth in the literature since the early 21st century and the increasing adoption of AI in various financial sectors. It also identifies several research questions that remain unanswered, such as the impact of AI on labor markets, the effectiveness of AI in fraud detection, and the integration of AI in regulatory compliance. The study concludes by suggesting future research directions to address these gaps and enhance our understanding of AI's impact on finance.
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[slides and audio] Artificial intelligence in Finance%3A a comprehensive review through bibliometric and content analysis