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While algorithmic trading has long been associated with AI in finance, modern applications extend far beyond market prediction. This article explores the broader impact of AI across the financial services industry.\n\nWe examine applications in credit scoring and risk assessment using alternative data sources, fraud detection systems that adapt to emerging threats, personalized financial advice through robo-advisors, and process automation in regulatory compliance.\n\nThe article also addresses ethical considerations in algorithmic decision-making, particularly regarding fairness and transparency when AI systems affect financial inclusion and access to services.