Artificial Intelligence-Based Financial Decision Support Systems

Réka Vas

Artificial Intelligence-Based Financial Decision Support Systems

Author(s)	Dr. Réka Vas
Country	Hungary
Abstract	Artificial intelligence-based financial decision support systems are transforming contemporary financial management by enabling organizations to process large volumes of financial information, identify patterns, generate forecasts, and support complex decision-making processes. The integration of machine learning, deep learning, natural language processing, predictive analytics, and intelligent automation has expanded the capabilities of conventional financial information systems. This study examines artificial intelligence-based financial decision support systems with particular emphasis on financial forecasting, risk assessment, investment analysis, fraud detection, credit evaluation, portfolio management, and strategic financial planning. A qualitative descriptive and conceptual research design was adopted using secondary academic literature. The analysis indicates that AI-based systems can improve analytical efficiency, support timely decision-making, and enhance the processing of complex financial datasets. Machine learning models can identify patterns in historical financial information, while predictive analytics can support forecasting and risk estimation. AI-enabled systems can also contribute to fraud detection and automated financial monitoring. However, implementation involves challenges related to data quality, model transparency, cybersecurity, privacy, algorithmic bias, regulatory compliance, and organizational capabilities. The study emphasizes that AI should function as a decision-support capability rather than an unrestricted replacement for professional financial judgment. Effective implementation requires high-quality data, explainable models, governance mechanisms, human oversight, cybersecurity controls, and continuous performance evaluation. The findings provide a conceptual foundation for understanding how AI-based financial decision support systems can contribute to more responsive, analytical, and technology-enabled financial management.
Keywords	Artificial Intelligence, Financial Decision Support Systems, Machine Learning, Financial Analytics, Risk Management, Investment Analysis, Fraud Detection, Predictive Analytics, Financial Technology, Intelligent Decision-Making
Field	Engineering
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-12-31

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American International Journal of Advanced Research and Development

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Artificial Intelligence-Based Financial Decision Support Systems

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