Exploring the adoption of Artificial Intelligence in the Finance Industry: The case of Chatbots in the Kenyan Finance Industry

2019 ◽  
Author(s):  
Athar Ahmad Bhatti
Keyword(s):  
Artificial Intelligence ◽  
Finance Industry

scholarly journals Artificial Intelligence, Smart Contract and Islamic Finance

2018 ◽  
Vol 14 (2) ◽  
pp. 145 ◽  
Author(s):  
Siti Rohaya Mat Rahim ◽  
Zam Zuriyati Mohamad ◽  
Juliana Abu Bakar ◽  
Farhana Hanim Mohsin ◽  
Norhayati Md Isa
Keyword(s):  
Artificial Intelligence ◽  
Computer Code ◽  
Islamic Finance ◽  
Human Intelligence ◽  
Human Beings ◽  
Finance Industry ◽  
Smart Contract ◽  
Huge Impact ◽  
Block Chain

This study examines the two important aspect of latest technology issues in Islamic finance that related to artificial intelligence (AI) and smart contract. AI refers to the ability of machines to understand, think, and learn in a similar way to human beings, indicating the possibility of using computers to simulate human intelligence. Smart contract is a computer code running on top of a block-chain containing a set of rules under which the parties to that smart contract agree to interact with each other. The main objectives of this article are to evaluate the operations of AI and smart contract, to make comparison between the operations of AI and smart contract. This article concludes that AI and smart contract will have a huge impact in future for Islamic Finance industry.

scholarly journals Time-Varying Transmission Effects of Internet Finance Under Economic Policy Uncertainty and Internet Consumers’ Behaviors: Evidence from China

2021 ◽  
Vol 25 (5) ◽  
pp. 554-562
Author(s):  
Guangtong Gu ◽  
Wenjie Zhu ◽  
◽  
◽  
◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Economic Policy ◽  
Risk Control ◽  
High Tech ◽  
Policy Uncertainty ◽  
Time Varying ◽  
Economic Policy Uncertainty ◽  
Finance Industry ◽  
Internet Finance ◽  
The Impact

The modern finance industry is composed of not only numerous financial intermediaries but also internet-based mechanisms which are operated by mobile phone users and online consumers daily. In the coming 10 years, estimates suggest that over half of banks’ functions will likely be replaced by high-tech artificial intelligence. Given the great ongoing shifts in contemporary financial systems, the transmission effects of internet-based finance practices have introduced an important yet unaddressed empirical question on the coupling relationship between the internet finance industry and economic policy uncertainty (EPU). This paper adopts the time-varying parameter vector autoregressive model with stochastic volatility (TVP-SV-VAR) model and novel data from Alibaba Corp. to investigate this relationship. We find: First, the impact of internet-based financial approaches on EPU is greater than the reversal effect, indicating that China’s gross domestic product (GDP) is largely influenced by the online finance industry. Second, the lag impacts are time varying and become stable after 2016, corresponding to the current Chinese government’s long-term strategic plan that emphasizes maintaining the economy’s overall stability. Lastly, additional evidence shows that the online financial approaches are positively correlated with consumers’ behaviors, implying that the online finance industry is gaining its momentum when people are using e-currency rather than real cash. After all, it takes time to observe the real effect of these macro policies. With internet and information technology developing, artificial intelligence is being used in the areas of big data, credit lending, and risk control. This largely reduces the data analyzing cost for internet finance companies and makes risk control more convenient.

Artificial Intelligence in FinTech: understanding robo-advisors adoption among customers

2019 ◽  
Vol 119 (7) ◽  
pp. 1411-1430 ◽  
Author(s):  
Daniel Belanche ◽  
Luis V. Casaló ◽  
Carlos Flavián
Keyword(s):  
Artificial Intelligence ◽  
Structural Equation ◽  
Subjective Norms ◽  
Perceived Usefulness ◽  
Equation Modeling ◽  
Measurement Scales ◽  
Sociodemographic Variables ◽  
Content Type ◽  
Finance Industry ◽  
Wide Range

Purpose Considering the increasing impact of Artificial Intelligence (AI) on financial technology (FinTech), the purpose of this paper is to propose a research framework to better understand robo-advisor adoption by a wide range of potential customers. It also predicts that personal and sociodemographic variables (familiarity with robots, age, gender and country) moderate the main relationships. Design/methodology/approach Data from a web survey of 765 North American, British and Portuguese potential users of robo-advisor services confirm the validity of the measurement scales and provide the input for structural equation modeling and multisample analyses of the hypotheses. Findings Consumers’ attitudes toward robo-advisors, together with mass media and interpersonal subjective norms, are found to be the key determinants of adoption. The influences of perceived usefulness and attitude are slightly higher for users with a higher level of familiarity with robots; in turn, subjective norms are significantly more relevant for users with a lower familiarity and for customers from Anglo-Saxon countries. Practical implications Banks and other firms in the finance industry should design robo-advisors to be used by a wide spectrum of consumers. Marketing tactics applied should consider the customer’s level of familiarity with robots. Originality/value This research identifies the key drivers of robo-advisor adoption and the moderating effect of personal and sociodemographic variables. It contributes to understanding consumers’ perceptions regarding the introduction of AI in FinTech.

Artificial Intelligence in Accounting and Finance: Meta-Analysis

2021 ◽  
Vol 3 (1) ◽  
pp. 56-79
Author(s):  
Oguljan Berdiyeva ◽  
Muhammad Umar Islam ◽  
Mitra Saeedi
Keyword(s):  
Artificial Intelligence ◽  
Customer Service ◽  
Intelligent Agents ◽  
Meta Analysis ◽  
Traditional System ◽  
Finance Industry ◽  
Key Points ◽  
Artificial Intelligence Technology ◽  
The Impact ◽  
Artificial Intelligence Systems

The use of the traditional system is declined greatly and with a modernization of the accounting and finance process there have been a great deal of change, and these improvements are beneficial to the accounting and finance industry. Adopting Artificial Intelligence applications such as Expert systems for audit and tax, Intelligent Agents for customer service, Machine Learning for decision making, etc. can lead a great benefit by reducing errors and increasing the efficiency of the accounting and finance processes. To keep ensuring a transparent and replicable process, we have conducted a meta-analysis. The database search was between the years 1989-2020 and reviewed 150 research papers. As meta-analysis results show, the majority of researches illustrate a positive effect of the impact of AI systems in the accounting and finance process. Key points:  Meta-Analysis has been applied for emphasizing positive results of the impact of Artificial Intelligence systems in the Accounting and Finance process.  Implementing Artificial Intelligence systems in Accounting and Finance process can increase the efficiency of the process.  Artificial Intelligence technology has been influential in all the areas of accounting, which are especially concerned with knowledge

Artificial Intelligence

2009 ◽  
Author(s):  
David L. Poole ◽  
Alan K. Mackworth
Keyword(s):  
Artificial Intelligence
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