Year: 2026
Type: article
Study design: Observational Study
Abstract: Artificial intelligence (AI) is revolutionizing the financial industry through automation, enhanced client interactions, and data analytics. Its primary functions include automating banking processes to optimize productivity and reduce human error, improving decision-making in asset management and loan evaluations, and facilitating faster transaction processing. AI enhances client experience by personalizing recommendations and providing 24/7 support via chatbots. Additionally, AI-driven analytics offer insights into consumer behavior and help financial firms tailor services. The study also examined the implications of AI from an employee perspective. The study found that, according to the survey among employees, 27% of Fintech workers are female and 73% male, with senior employees comprising 55% of the workforce. Most workers are in payment-related industries (57%), while awareness of AI is high, as 73% are extremely familiar with it. Over 73% of companies use AI, mainly for customer service and risk assessment, though 35% report a lack of qualified workers as a barrier. Employees believe AI improves time management (85%), but have mixed views on productivity benefits. Ethical concerns about data privacy are acknowledged, and 63% feel AI can manage customer inquiries effectively, while 85% believe AI could significantly transform the Fintech sector. The study opined that Gender differences were found to significantly influence the challenges organizations face in implementing AI technologies, followed by factors such as organizational transformation, customer experience, usage and adoption of AI in fintech operations, familiarity with AI technologies, industry segment, and job position. However, AI has its drawbacks and restrictions in finance, such as data security and privacy issues. To reduce these risks, AI systems must be fair and transparent, with ethical standards and routine audits being used to detect and correct biased results.
DOI: 10.14419/m2qkap36
Language: English
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7128967866
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