I am currently doing my Master Thesis in FinTech and I am thinking of doing my project on the impact of AI and ML on the financial industry but as the impact of these technologies on the industry are vast, however, I need to limit the factors and the objective of the research, which bring the question what is more important today in this industry.
The Most common use of ML and AI in financial service industry has been on prediction, for example in credit scoring, fraud detection, client churn and recommender system and stock price predictions. For masters level, you could think of these depending on the data and your interest, availability of data and your advisor's recommendation. Other use cases are also available, and I suggest you do a background literature check before consulting your advisor and finally settling on one.
Maybe discuss an application in the banking sector. E.g. Ghodselahi and Amirmadhi (2011) showed how AI is used to asses the risk of giving out credits.
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