Wealth Wizard: Applying AI Technologies Across Financial Services

Abstract: Our research presents a cutting-edge AI-driven plat form, Wealth Wizard, designed to empower users with advanced tools for financial management and planning. The system features automated expense categorization, budget forecasting, personalized recommendations, and real-time alerts. Leveraging machine learning models such as Random Forest Classifiers and ARIMA, the platform identifies spending patterns and forecasts future expenses, enhancing financial literacy and decision-making. An interactive chatbot ensures user engagement, addressing queries and guiding platform use. This research highlights the innovative use of AI and ML in revolutionizing personal finance, paving the way for accessible and efficient financial solutions. Index Terms—finance technology, expense categorization system, machine learning, budget prediction.

Keywords: AI, ML, KNN (K-Nearest Neighbours), ARIMA (Auto Regressive Integrated Moving Average), Word Vectorizer (Word2Vec).