What is the role of AI in risk management and mitigation in the banking sector?
- AI assesses credit risk, detects fraudulent activities, and optimizes portfolios to mitigate risks effectively.
- AI focuses on improving employee productivity but doesn't impact risk management.
- AI has no significant role in risk management in banking.
- AI is mainly used for marketing and customer service in the banking sector.
AI plays a pivotal role in risk management and mitigation in the banking sector. It assesses credit risk, detects fraud, and helps optimize portfolios to minimize risk exposure. AI's analytical capabilities are invaluable in making informed decisions regarding risk.
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