25883 AI-driven Compliance, Anomaly and Fraud Detection

Description

In the fast-paced and complex world of finance, ensuring compliance and preventing fraud are paramount. This subject delves into the pivotal role of artificial intelligence (AI) in mitigating these risks and safeguarding the integrity of financial systems. This subject introduces finance students to a captivating realm where AI technologies hold the key to uncovering hidden patterns, detecting irregularities, and fortifying compliance measures. By blending theory and practice, students gain a conceptual understanding of cutting-edge techniques, methodologies, and ethical considerations involved in leveraging AI for these critical tasks. Real-life scenarios presented in class help illustrate the urgent need for advanced technologies in the finance industry.

Students are immersed in the world of data integration, pre-processing, feature engineering, ensemble methods, and text mining techniques. They discover how AI can consolidate diverse datasets, standardise formats, and transform raw information into valuable insights. To help navigate the delicate balance between technological advancements and responsible AI usage, the subject delves into the ethical dimensions with the examination of the risks of algorithmic bias, data privacy concerns, and the need for transparency and accountability in implementing AI solutions. Armed with a comprehensive understanding of AI-driven compliance, anomaly detection, and fraud prevention, students emerge prepared to tackle the challenges faced by the finance industry and will possess the knowledge and skills to leverage AI technologies to detect financial irregularities, make data-driven decisions, and safeguard the trust and confidence of investors and clients.