Introduction—The Governance Imperative
Abstract
Artificial intelligence (AI) and machine learning (ML) have rapidly transformed the banking sector, enabling data-driven decision-making, automating complex processes, and enhancing fraud detection and customer experience. In this chapter, AI is defined as the simulation of human intelligence by machines to perform tasks such as reasoning, learning, and problem-solving ( Russell & Norvig, 2020 ), while ML refers to a subset of AI that uses algorithms and statistical models to identify patterns and make decisions with minimal human intervention ( Mitchell, 1997 ).
Fields of Study & Subjects
Digital Transformation in Financial Services
Artificial Intelligence Applications
Ethics and Social Impacts of AI
Publication details
- Journal / source
- Productivity Press eBooks
- Pages
- 1–14
- Publication date
- 16 March 2026
- Language
- EN
- Document type
- Book chapter