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AI is revolutionizing the finance industry, with applications ranging from credit scoring to risk management and fraud detection. AI-based algorithms are able to analyze vast amounts of data, including unconventional sources, to generate more accurate and inclusive credit scores. AI is also helping financial institutions make better-informed lending decisions while providing more opportunities for consumers to access credit. Additionally, AI is being used to improve risk management and fraud detection, as well as automate customer service and provide personalized financial advice.
