Alan Turing first asked, "Can machines think?" in the 1950s, and artificial intelligence has existed ever since. Siri and Alexa on Amazon are now well-known. But the finance sector was the one that swiftly caught up with it. Technology is evolving at a rapid pace, and artificial intelligence (AI) is leading this change in the financial services sector. This rise has accelerated recently due to the development of big data, cloud computing, creative hardware, and quicker special-purpose systems. Algo trading, fraud detection, chatbots, market and regulatory compliance, market effect research, and stress testing are just a few of the many uses of artificial intelligence that are widely employed today. Financial services personnel struggle with the technology's inherent problems as well as its prospective benefits as this huge transformation takes place.