What is a key challenge of using AI in finance?

AI systems can sometimes make incorrect or biased decisions

What is the difference between rule-based AI and machine learning-based AI?

Follows fixed instructions, while machine-learning AI learns from data

Which of the following is an ethical concern in AI?

AI making biased decisions due to incorrect training data

Which of the following best describes “generative AI”?

AI that can create new content, such as text, images, or videos

What is “narrow AI”?

AI that only works on specific tasks

In banking, how does AI assist with customer service?

By creating personalized responses through chatbots

How does AI help in fraud detection for banks?

By analyzing transaction patterns and flagging unusual behavior

What is Artificial Intelligence (AI)?

The ability of machines to perform tasks that require human intelligence

What does machine learning allow AI systems to do?

Improve performance over time by learning from data

How does AI impact compliance in financial institutions?

Automating regulatory report generation & monitoring transaction anomalies

How does AI improve cybersecurity in banking?

By monitoring patterns to detect potential fraud or cyber threats

What is one of the main goals of AI in banking?

To improve fraud detection and automate financial tasks

Why is AI considered useful for risk assessment in banking?

AI can quickly analyze big amounts of financial data to identify risks

What is the role of AI in “robo-advisors” for banking?

Helping customers by offering automated investment advice

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AI World

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Questions 15

Answers

1
What is a key challenge of using AI in finance?
AI cannot analyze financial data
AI makes perfect predictions all the time
AI is only useful for large banks, not small ones
AI systems can sometimes make incorrect or biased decisions
2
What is the difference between rule-based AI and machine learning-based AI?
Machine learning AI does not require data to function
Rule-based AI is more advanced than machine-learning AI
Follows fixed instructions, while machine-learning AI learns from data
Machine learning AI is only used in robotics
3
Which of the following is an ethical concern in AI?
AI’s capability of giving incorrect answers
AI’s ability to improve customer service
AI's potential to replace human jobs
AI making biased decisions due to incorrect training data
4
Which of the following best describes “generative AI”?
AI that only follows pre-programmed commands
AI that works only in robotics
AI that can create new content, such as text, images, or videos
AI used for calculating simple arithmetic problems
5
What is “narrow AI”?
AI that only works on specific tasks
AI that can perform a wide range of human tasks
AI that can think like a human
AI that does not require programming
6
In banking, how does AI assist with customer service?
By creating personalized responses through chatbots
By giving contact details
By manually reviewing all customer complaints
By allowing customers to only use mobile apps
7
How does AI help in fraud detection for banks?
By analyzing transaction patterns and flagging unusual behavior
By reducing human investigators
By investigating all online payment
By checking social media activity
8
What is Artificial Intelligence (AI)?
A type of computer hardware
The ability of machines to perform tasks that require human intelligence
A branch of science that studies planets
A coding language
9
Which of the following is most recognized as an AI application in daily life?
Smart Phones
Online customer support chatbots
Siri or Alexa
Navigation apps
10
What does machine learning allow AI systems to do?
Generate random responses without patterns
Improve performance over time by learning from data
Function only with human input
Perform tasks without following any rules
11
How does AI impact compliance in financial institutions?
By encrypting customer data to prevent audits
By delaying high-risk transactions for manual approval
Automating regulatory report generation & monitoring transaction anomalies
By eliminating the need for human compliance officers
12
How does AI improve cybersecurity in banking?
By preventing all online transactions
By replacing passwords with facial recognition
By increasing the cost of security systems
By monitoring patterns to detect potential fraud or cyber threats
13
What is one of the main goals of AI in banking?
To replace all human employees
To improve fraud detection and automate financial tasks
To facilitate quicker customer transactions
To streamline banking operations
14
Why is AI considered useful for risk assessment in banking?
AI can predict future market trends with perfect accuracy
AI increases loan interest rates automatically
AI prevents all financial losses
AI can quickly analyze big amounts of financial data to identify risks
15
What is the role of AI in “robo-advisors” for banking?
Replacing human financial advisors entirely
Blocking risky financial transactions
Predicting global economic crashes with 100% accuracy
Helping customers by offering automated investment advice

AI World Flashcards | StudBud