Artificial Intelligence as a driver of Fintech: Interesting Applications
Year: 2024
Type: article
Abstract: This paper explores the transformative impact of artificial intelligence (AI) on financial technology (Fintech). With the rapid evolution of digital technologies, AI has become an important driver in reshaping financial services; where its effect is manifesting as increased net revenues of Fintech organizations. This short article examines various applications of AI in Fintech, including extraordinary payment systems, super-fast lending mechanisms and an example of a near real time insurance settlement system. This paper uses examples from industry to highlight how AI-driven innovations are not only enhancing efficiency and customer experience but also introducing new challenges, issues and considerations. The integration of AI in Fintech is altering traditional financial paradigms, prompting a discussion on the future of financial services, as well as organizational decision making, in an AI-dominated landscape.
Authors: Arnab K Ganguly -, Purna Prasad Arcot -
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4403862697