In finance, neural networks are used for which of the following?

Practice Questions

Q1
In finance, neural networks are used for which of the following?
  1. Customer service automation
  2. Fraud detection
  3. Inventory management
  4. Supply chain optimization

Questions & Step-by-Step Solutions

In finance, neural networks are used for which of the following?
  • Step 1: Understand what neural networks are. They are computer systems that can learn from data.
  • Step 2: Recognize that in finance, these systems can analyze large amounts of data.
  • Step 3: Identify that one of the uses of neural networks in finance is to detect fraud.
  • Step 4: Learn that they do this by looking at transaction patterns.
  • Step 5: Conclude that if a transaction looks unusual compared to normal patterns, it may be flagged as potentially fraudulent.
No concepts available.
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