AI in Financial Technology

What is the primary function of AI in financial technology?

• Replacing human workers entirely

• Automating and optimizing financial services

• Slowing down transactions for security purposes

• Eliminating the need for financial institutions

Which of the following is NOT a key component of AI?

• Machine Learning

• Natural Language Processing

• Blockchain

• Deep Learning

What is Natural Language Processing (NLP) used for in FinTech?

• Analyzing financial documents

• Powering chatbots and customer service assistants

• Predicting stock market movements

• Both a and b

AI in finance primarily improves efficiency by:

• Eliminating all jobs in the industry

• Processing large amounts of data quickly

• Making banks obsolete

• Increasing human error rates

What technology allows AI to detect fraudulent transactions?

• Optical Character Recognition (OCR)

• Neural Networks

• Virtual Reality (VR)

• Internet of Things (IoT)

What is a robo-advisor?

• A human financial advisor who uses AI tools

• An AI-powered system that provides investment advice

• A robot that manages ATM machines

• A chatbot used by banks for customer support

AI in credit scoring helps lenders by:

• Using alternative data sources to assess risk

• Guessing creditworthiness without data

• Ignoring a borrower’s financial history

• Slowing down the loan approval process

What is one major advantage of AI-powered fraud detection?

• It slows down transactions for verification

• It detects suspicious patterns in real-time

• It eliminates all financial fraud

• It replaces cybersecurity teams

What FinTech sector heavily relies on AI for predictive analytics?

• Crowdfunding

• Blockchain

• Algorithmic trading

• Peer-to-peer lending

Which FinTech company is known for using AI in financial advisory?

• Betterment

• PayPal

• Coinbase

• Visa