Innovative directions of digital business development using Artificial intelligence: foreign experience of fintech companies (2024)

One of the challenges financial institutions is how to adapt to a changing business environment, increasingly demanding and differentiated customer preferences, digitalization and technological change. Using a documentary analysis approach, the article navigates the ramifications of API based open banking, Block Chain Technology (BCT) and entrance of Fintechs, Big technology companies (Big Tech1) and Telecommunications companies (Telcos on the performance of general banking sector and financial system stability. Results underscore the role of digitalization revolution and ICT in fundamentally changing the financial service development and delivery, by empowering ICT savvy non-financial institutions including financial technology companies (Fintechs), TELCOS, and Big Tech to become players in the industry; enhancement of financial inclusion thanks; reduction in transaction costs; and inducing traditional banks to adopt new business models that leverage Big Data and data analytics app...

Computer Science & IT Research Journal

In an era where artificial intelligence (AI) is revolutionizing business paradigms, this study delves into the intricacies of AI-driven business models, offering a nuanced understanding of their emergence, evolution, and impact on traditional business strategies. This scholarly inquiry aims to dissect the role of AI in reshaping business models, highlighting the interplay between technological innovation and business strategy. The study meticulously examines the integration of AI into various business facets by employing a systematic and thematic analysis of a diverse range of literature, including academic journals, industry reports, and case studies. This methodological approach facilitates a comprehensive understanding of AI's role in business innovation, addressing both the opportunities and challenges it presents. The findings reveal that AI-driven business models are characterized by enhanced operational efficiency, data-driven decision-making, and customer-centric approac...

Pakistan Journal of Society, Education and Language (PJSEL, 2023

Integrating Artificial Intelligence (AI) with social sciences allows researchers to study emerging fields that link technology and mankind, encouraging change. This research examines how artificial intelligence (AI) affects sociology, psychology, economics, political science, anthropology, geography, history, education, communication studies, cultural studies, and linguistics. Additionally, it expands to cover finance, marketing, HRM, supply chain management, and IT. This study underlines the role of artificial intelligence (AI) in revolutionising research technique, offering data-driven insights from massive data, and allowing human-machine collaboration in numerous domains. This study also emphasises ethical issues and standards for appropriate AI-powered research. It also gives case studies of AI's ethical application in many sectors. A thorough review of 450 Web of Science documents underpins this study. This analysis used only English-language publications from 2019 to 2023. The selecting procedure used social science and AI keywords. The selected publications provide useful perspectives on the confluence of AI and the social sciences. This research investigates AI's role in environmental monitoring, climate change prediction, sustainable resource management, and sustainable energy, transportation, and urban planning technologies. Business and management research examines how artificial intelligence (AI) affects industries, market dynamics, financial services, supply chain management, entrepreneurship, and general management. This study also examines how artificial intelligence (AI) affects communication, art, and culture. This comprehensive analysis evaluates the major impact of artificial intelligence (AI) across numerous disciplines and identifies possible research topics where AI could improve the social sciences by solving current problems. AI-social science integration raises ethical questions and opportunities. This research also explores the effects on policy, education, and interdisciplinary cooperation, emphasising the need for ongoing dialogue and collaboration between academics, policymakers, and educators. AI-enhanced social sciences' prospective advantages for society are the subject of this essay. It also urges researchers and politicians to fully embrace AI's promise, highlighting the need for action.

Journal of Management World, 2024

Potwora, M., Vdovichena, O., Semchuk, D., Lipych, L., & Saienko, V. (2024). The use of artificial intelligence in marketing strategies: Automation, personalization and forecasting. Journal of Management World, 2, 41-49. DOI:10.53935/jomw.v2024i2.275 (Scopus)The integration of Artificial Intelligence (AI) in marketing strategies is pivotal in the era of digital transformation, especial ly i n a u toma tion , personalization, and forecasting. This research investigates the evolutionary role of AI in transitioning from traditional marketing frameworks to da tadriven methodologies, thereby enhancing marketing efficiency and customer engagement. The increasing reliance on AI for strategic decision-making in marketing underscores the significance of this study. Employing a systematic literature review and thematic analysis, this research synthesizes data from an array of studies to thoroughly understand the impact of AI on marketing. The findings reveal that AI significantly streaml ines marketing operati on s, fosters highly personalized marketing strategies, and enhances the accuracy of forecasting market trends and consumer behavior. However, this stu dy also sheds light on the ethical and privacy concerns associated with the use of AI in marketing. Results point towards a significant tra n sformati on i n marketing practices propelled by AI, marked by improvements in operational efficiency and customer interaction. Nevertheless, the study advocates th e importance of addressing ethical considerations and privacy issues, emphasizing responsible AI deployment. The study offers a comprehensive perspective on the integration of AI in marketing and suggests insights into prospective trends. It recommends a balanced approach to leveragi ng AI's capabilities while upholding ethical standards. The research's practical implications aim to guide marketers and researchers towards respon sibl e a n d effective AI adoption in marketing strategies, paving the way for a future where technology enhances marketing endevaours wit h ou t comprom isi ng ethical integrity.

Business and Economic Research

Businesses, government sectors, academia and society have been flooded with data which nowadays have become valuable economic assets. Data and Big Data Analytics (BDA) are vital for the succession of any organization. Big Data Analytics (BDA) delineates the approaches utilized to examine, process, analyze and expose hidden underlying patterns, interesting relations, and intelligence from huge datasets for different purposes. Despite the growth and widespread use of data analytics, the study on this research area is still at the nascent stage. The scenario is seen particularly for the developing countries like Malaysia. Previous literature has recognized data analytic development and its effect but has not yet provided a comprehensive review. This paper intends to conceptualize BDA manifestation, its application, and its challenges epistemology. This study employs a comprehensive review of past literature to serve the purpose. The findings of this paper will enhance the understanding...

Unlike early civilizations with an entire economy built around agriculture and the practicality of the barter system, today's complex economies require immediate, low-cost transactions. The digitalization of transactions is helping economies develop through various new assets and currencies. The appearance of DeFi, CBDC's, and many blockchain based systems has created a bit of a debate among researchers. Consequently, the matter maintains a certain ambiguity, which requires more research. In this paper, we will be discussing how blockchain is revolutionizing the financial sector, by creating decentralized finance and central banks' digital currencies. We will then propose a new global money matrix starting with a short literature review of existing definitions and categorizations since there still is a lack of understanding and standardization of currency categories, especially digital currencies. Then we will do the same for CBDC by categorizing it by component: participants, categories, and application scenarios.

Administrative sciences, 2023

This study aims to comprehensively synthesize existing literature on AI in tourism, highlighting key themes, strengths, and limitations, and illuminating pathways for future research, including the identification of emerging areas within this context. AI technology is rapidly transforming various sectors, including tourism, by augmenting customer service, improving operational efficiency, personalizing travel experiences, and supporting sustainability initiatives. Despite the growing body of research on this topic, there is a need for a comprehensive and systematic summary of the existing literature to illuminate the most effective uses of AI in this context and to identify gaps for future research. We employed the ‘overview of reviews’ methodology, which involved systematically locating, appraising, and synthesizing the results of previous review articles. Using Web of Science, we identified and analyzed 31 previous review articles on the application of AI in tourism. Their synthesis presents a comprehensive perspective on the present status of AI technology in the tourism sector. It provides valuable insights, not only for practitioners contemplating the implementation of AI solutions but also for academics aspiring to advance this study area. Moreover, the academic implications of this study reaffirm its objective to shape future inquiries into AI applications within tourism, advocate for the efficacious and sustainable employment of AI, and provoke scholarly exploration at the nexus of technology and sustainability in this sector.

IGI Global, 2024

This study examines how AI and robots shift competitive advantage across industries. Through a literature analysis, case studies, and a robust methodological framework, this study shows how new technologies change operational paradigms, redefine innovation, and put organizations at the forefront of industry dynamics. Strategic AI and robot integration is essential for competitive advantage in manufacturing, healthcare, banking, logistics, and tourism. This theoretical framework helps scholars, practitioners, and policymakers navigate the intricate relationships between AI, robots, and industry dynamics. Finally, the chapter suggests further research on ethical issues, interdisciplinary studies, long-term effects, global perspectives, and human-AI collaboration. This research provides a solid foundation for understanding how AI and robotics are changing the commercial landscape at the technological frontier.

Digital innovations are emerging to solve known problems using new digital tools or technologies. Digital innovations also have wide application for financial inclusion. Private sector agents are using digital innovations to increase financial inclusion in remarkable ways. This chapter explores the recent digital innovations that are changing the financial inclusion landscape toward digital financial inclusion. The study used the discourse analysis methodology. It was found that digital innovations, such as central bank digital currency (CBDC), cryptocurrency, embedded finance, artificial intelligence, wallet as a service (WaaS), Fintech, Bigtech, and decentralized finance (DeFi), are helping to accelerate digital financial inclusion in many parts of the world. Each of these digital innovations serve a specific purpose, and they contribute to accelerating digital financial inclusion in unique ways, even though they all pose some risks that can be mitigated with careful and purposeful regulation.

Handbook of Applied AI Ethics, 2024

The following article deals with the ethical aspects of Digital Finance. Because Digital Finance is transforming the function of finance inside society and its role for business and people, changing issues, new aspects, and differences are in the focus. On the one hand, change of financial transactions follows the continuous historical evolution of the financial system – from a personal-trust focus to an institutional and organisational focus. On the other hand, this change follows current trends from formerly independent systems of economy and fi-nance towards fully intertwined and interconnected processes of daily life. This change re-flects digitisation as penetrating more and more economic, social, and private processes in terms of finance. At the same time, the financial system can now access to almost all pro-cesses of social life and obtain information of social life, whether private or public.

Adeleke Doyinsola , 2024

The paper explores the transformative impact of emerging disruptive technologies on the digital economy, particularly focusing on artificial intelligence (AI). Beginning with the evolution of the digital economy, the study highlights the pivotal role of interconnected intelligence and technological devices. The narrative delves into the widespread influence of AI, machine learning, cloud computing, big data, and virtual reality, emphasizing their impact on the corporate environment. The paper asserts that AI, characterized by machine learning and neural networks, is becoming an integral part of human interaction, influencing societal and business dynamics. Notably, the financial industry experiences a significant disruption due to AI, ushering in new business models and ideas. The study emphasizes AI's potential to reshape economic foundations for small and medium-sized firms (SMEs), particularly in healthcare and retail sectors. However, it acknowledges SMEs' vulnerability to challenges, such as those posed by the COVID-19 pandemic, as they strive to leverage AI for competitive advantage. Overall, the abstract provides a comprehensive overview of the evolving landscape driven by disruptive technologies, with a specific focus on AI's multifaceted implications.

Scientific Annals of Economics and Business

The emerging of green entrepreneurship and digital transformation improve businesses’ efficiency and meet consumers’ demand for environmentally sustainable products, reducing the environmental footprint and strengthening corporate responsibility to society. Moreover, the COVID-19 pandemic has become a key event changing our lives while businesses have to change their daily operations and working from home has become the norm. So, it is possible to say that business activities and business models have undergone some form of digital transformation due to the COVID-19 pandemic. In Greece, the Food Industry can be characterized as one of the most dynamic and competitive economic sectors which is distinguished for its growth prospects. The aim of this study is twofold: (i) to investigate the impact of green entrepreneurship and digital transformation into the performance of Greek SMEs in the food sector and (ii) to highlight the new trends integrated in new business models in the sector....

IGI Global, USA, 2024

The chapter investigates the impact of artificial intelligence (AI) on marketing strategies in the hospitality industry. It discusses how AI technologies like machine learning, natural language processing, and computer vision have transformed customer interactions. The chapter emphasizes the importance of AI in learning and adapting to customer behavior and standards, highlighting its significant role in the industry. This chapter explores the practical applications of AI in the hospitality industry, highlighting its potential in creating unique customer profiles and providing personalized tips. Predictive analytics reveals AI's ability to anticipate vacation patterns and enable dynamic pricing, enabling businesses to adapt to market changes. The chapter emphasizes the marketing significance of augmented and virtual reality, highlighting their potential to provide immersive experiences and influence customer decisions through virtual tours. The chapter concludes by highlighting the industry's progress in AI and the need for further research.

Education Post, 2024

Top MBA Colleges in India 2024 - Dr. Vijay D. Patil | Chancellor & President - D Y Patil Deemed to be University, Navi Mumbai | Dec 2023 - Jan 2024

Sustainability

This research paper delves into the pivotal role of strategic integration of artificial intelligence (AI) concepts across sustainability efforts in for-profit businesses. As organizations are increasingly starting to rely on AI-driven solutions, this study examines the profound implications of AI integration for two critical facets: impact on data management in companies and diversification of human engagement during interactions in the digital ecosystem. The main goal of this research is to analyze the AI adoption index within a sample of 240 medium and large-sized companies (therefore excluding new companies, small startups, and low-scale AI applications). Firstly, the paper scrutinizes how AI technologies enhance data management by enabling efficient data collection, analysis, and utilization. It emphasizes the importance of AI-driven data analytics in improving decision-making processes, resource optimization, and overall operational efficiency for sustainable practices. Secondl...

Springer Cham- Series Title Studies in Computational Intelligence, 2022

Artificial intelligence is a breakthrough for various felids in life. Endless potential opportunities may be created through applying AI in business, health care, and education. It is undeniable that artificial intelligence provides a cheap and efficient tool to achieve tasks that consume time and money, where faster growth and success could be reached. Transforming into utilizing artificial intelligence needs careful inspectionand forward thinking in the possible outcomes and reflections on humankind. This book contains 26 chapters by authors from different countries. Each of these chapters was evaluated through an editorial board, and each chapter was passed through a double-blind peer review process, hence bestowing four themes: - Artificial Intelligence, Blockchain Technology, Entrepreneurship, and Business Success.- FinTech, RegTech, Financial Systems, and Artificial Intelligence.- Implementation of Artificial Intelligence in Healthcare, Education, and Public Sector.- Professional Practices and Social Implications of Artificial Intelligence.These chapters reflect quality research contributing theoretical and practical implications for those who wish to apply artificial intelligence within any business, health care, education sector, or even entrepreneurs who wish to blend entrepreneurship with artificial intelligence and other vital areas state the lease. We hope that this book’s contribution will be oft the academic level that even decision-makers in the various economic and executive levels will get to appreciate.

This groundbreaking volume, published by Springer, provides a comprehensive overview of the complex ethical landscape surrounding the application of artificial intelligence (AI) in achieving the United Nations Sustainable Development Goals (UN SDGs).It brings together many expert perspectives across disciplines to shed light on the multifaceted implications of AI use within this context. The book illuminates the transformative potential of AI in advancing the SDGs, using case studies to demonstrate how this technology can foster efficiency, inclusivity, innovation, and sustainability. For instance, AI's potential impact in sectors such as precision agriculture, predictive analytics for education, and smart energy grids is critically explored.Simultaneously, the authors delve into the pressing governance and ethical challenges associated with AI. These include the risks of exacerbating socio-economic disparities, violating privacy rights, and navigating ethical quandaries such as AI bias. The necessity of robust regulatory frameworks, transparency, and inclusive design is emphasized to ensure fair and equitable AI deployment and to mitigate potential adverse consequences.The balanced and comprehensive analysis offered by this collection makes it an invaluable resource for students, scholars, and practitioners interested in the ethical governance of AI, sustainability, the fourth revolution, and the intersection of these with the UN SDGs. The authors underscore the importance of thoughtful, conscientious strategies for harnessing the power of AI in the global development arena.

Proceedings of the International Conference on Business Excellence

Hyperautomation is a business-driven approach, conceptualized in 2019 by Gartner Inc., that combines various technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA) and integrated platforms as a service (iPaas) with the aim of making business processes more efficient by substituting human intervention. Among these, implementations of AI within business services use technologies like Natural Language Processing, Voice and Image Recognition, Virtual Agents, Machine Learning or Deep Learning platforms. Acknowledging this reality, we are interested in developing answers to the following research questions: (1) What are the main categories of business services which integrate specific AI tools? (2) What are the transformed business processes and their operations provided by AI tools? (3) What are the benefits related to AI integrated tools? For this triadic purpose, a systematic literature review on the implementation of Artificial Intelligence in the field of...

Lecture notes in networks and systems, 2022

for the Humanities and Development This thesis investigates the strategic integration of artificial intelligence (AI) and advancing technology within the business context of Turkmenistan. It examines the current state of AI adoption, the challenges faced by businesses, and the opportunities that AI presents for innovation and growth. The research employs a mixed-methods approach, including surveys, interviews, and case studies, to assess the readiness of Turkmen businesses for AI integration and to identify strategies for overcoming barriers to adoption. The findings reveal a business environment that is generally receptive to AI, with a workforce eager to learn and adapt to new technologies. However, challenges such as limited infrastructure, and a digital skills gap must be addressed to fully harness the potential of AI. The thesis concludes with recommendations for future research and action, emphasizing the need for a collaborative effort among government, industry, and academia to ensure the responsible and effective deployment of AI technologies in Turkmenistan.

Journal of Smart Tourism_Accepted, 2024

Space tourism is a growing industry sector that faces challenges of cost, risk, environmental impact, and sustainability. However, few studies address space tourism in an Asian culture, particularly in the context of artificial intelligence (AI), which is an increasingly significant topic both in the tourism sector and in society overall. To address the research gap, this work establishes an analytical framework which contrasts three varieties of space tourism using partial least squares, multi-group analysis, and fuzzy-set Qualitative Comparative Analysis. It surveyed 1,000 prospective space travelers from South Korean who are eager to take part in space tourism to examine AI's role in enhancing sustainable space tourism. Findings indicate that recognizing AI benefits are crucial for sustainable on-Earth, sub-orbital, and orbital space tourism, particularly the latter. The study offers both conceptual and applied knowledge to enhance the sustainability of space tourism.

International Journal For Multidisciplinary Research

The banking sector is only one of the many areas that artificial intelligence (AI) has the potential to completely alter. In India, the banking sector has adopted AI at a rapid rate in recent years, resulting in increased productivity, better decision-making, and more customer satisfaction. This study looks at how AI has affected the Indian banking sector, as well as its existing uses, difficulties, and potential. This article demonstrates the potential for AI to transform the financial landscape in India through a thorough study of current developments and case studies, and it establishes the foundation for further research and innovation in this field.

16th Annual Conference of the EuroMed Academy of Business, 2023

This study investigates market entry choices of MSP business model firms in the event management and ticketing industry. In the contemporary digital era, with 4.95 billion internet users and e-commerce sales surpassing 5.7 trillion USD, multi-sided platforms (MSPs) termed as 'Born Digitals', have become critical in the digital transformation through exploiting digitalization, network effects, and scalability. Nonetheless, discrepancies in MSPs' market entry choices have been noted. Employing a qualitative multiple-case study approach, the research analyzes five MSP business model firms in the event management and ticketing industry, highlighting the importance of interactive communication and network externalities in their internationalization, which is often expedited by direct engagement, automation, and flexibility. The study uncovers five central themes in internationalization strategies which suggest that MSP business model firms in the event management and ticketing industry prefer to use high control market entry forms to be able to adapt their networking strategies and match-making algorithms to local consumer preferences. By cross analyzing these findings with existing literature, this study establishes that the observed market entry choices of the case study firms in this sample confirm existing research results. The research thus bridges the gap between theory and practice, suggesting further insights for understanding MSPs' market entry choices. Future research may explore market entry selection strategies employed by MSP firms of other sectors of the hospitality and tourism industry to better understand if the identified themes of this study can be replicated.

Journal of Organizational and End User Computing

Based on the mixed model unified technology acceptance and utilization theory (UTAUT) and spinner innovation model (SPINNER), a theoretical model is suggested to explain the determinant of behavioral intention to predict innovation in the context of a financial sector firm. A questionnaire was developed to collect primary data, which was subsequently processed through the artificial intelligence technique (deep learning). The constructs (performance expectancy, effort expectancy, social influence, facilitating conditions, behavioral intention, public knowledge, private knowledge, and innovation) supported the model, including mediating hypotheses. It was observed that the mixed methodological approach (SEM and ANN) can help to find the linear and non-linear relationships better, being that the error of the predicted model is 0.104, that is, 10.4% relatively low, which evidences that ANN can be used to predict the dependent variable innovation safely.

As our planet moves towards the middle of the 21st century, it faces a dizzying digital transformation process. This transformation brings along with it unique and innovative solutions to numerous social, organizational, and managerial issues. The most tangible of these solutions so far is the vision of Society 5.0 announced by the Japanese government in 2016. Within this scope, the purpose of this chapter is to develop conceptual insight into the reasons for the emergence, components, and goals of Society 5.0. Up-to-date research and current reports on the topic have been examined in this context, and a conceptual framework is formed. The findings show that many digital tools of Society 5.0 are already used in economies, but policymakers discuss these tools' human-centered reuse. As a result, a positive futuristic perspective has been drawn that humanity will continue its life on a more habitable planet for decades to come and unite digital and physical space.

One of the challenges financial institutions is how to adapt to a changing business environment, increasingly demanding and differentiated customer preferences, digitalization and technological change. Using a documentary analysis approach, the article navigates the ramifications of API based open banking, Block Chain Technology (BCT) and entrance of Fintechs, Bigtechnology companies (Bigtechs) and Telecommunications companies (Telcos on the performance of general banking sector and financial system stability. Results underscore the role of digitalization revolution and ICT in fundamentally changing the financial service development and delivery, by empowering ICT savvy non-financial institutions including financial technology companies (Fintechs), TELCOS, and Bigtechs to become players in the industry; enhancement of financial inclusion thanks; reduction in transaction costs; and inducing traditional banks to adopt new business models that leverage Big Data and data analytics appro...

Sypar Whitepaper V. 1.0, 2024

Co-authored with Alberto José Figueiredo, this comprehensive whitepaper serves as a guide, shedding light on Sypar's core vision, diverse services areas, and its commitment to education within the dynamic realms of the Digital and Artificial Era. The whitepaper transcends the traditional confines of corporate documentation and aims to become a crucial tool for understanding the impending digital and artificial transition, emphasizing the importance of financial, digital, and technological literacy in our evolving landscape. Recognizing the preponderant role these literacies play in people's lives, we take on the crucial task of not only elucidating its service areas with evidence-based scientific information but also contributing to the broader understanding of this dynamic ecosystem. The essence of Sypar's contribution lies not just in what we offer but in fostering a deep comprehension of the intricate web of technologies that will shape the years to come. From the evolution of internet to the emergence of the decentralized technologies (FinTech, DeFi, DeFi DAOs, blockchain, digital assets, etc.), metaverse (XR, digital twins, 3Dmodeling, etc.), AI (GPAI, FMs, LLMs, NLP, GenAI, computer vision, predictive analysis), and beyond, this whitepaper also adressess data & big data, cloud, edge & spatial computing, internetofthings (IoT), smartcities, brain-computer interfaces (BCIs), quantum technologies, robotics, autonomous systems & intelligent automation, and more. This holistic approach reflects our commitment to providing cutting-edge services in response to the evolving needs.

International Journal of Network Security & Its Applications

India is significantly diverse in culture and how it promotes business transactions. Though we are very acquainted with cash, cards, and online mode of payment, the Indian rural economy still believes in the barter system. At this juncture, India is evolving as a tech power house, and its economy is thriving to embrace cryptocurrency as a medium of exchange. After the Indian finance minister declared the same last February that India is working towards building its legal tender called Central Bank-backed Digital Currency (CBDC), this paper is making an impact in explaining our strengths, weakness, market readiness, and necessity to adopt a digital rupee when India's economy is highly regarded as a cashoriented economy. Is our country ready to accept the new technological shift in smart banking in the form of a digital rupee? The paper highlights the socioeconomic and technical challenges our planners need to understand before changing the Central banks' monetary policies. Th...

arXiv (Cornell University), 2023

Science, Technology and Development, 2024

Artificial Intelligence (AI) is transforming the way people work and live, however it also brings with it challenges like unemployment and societal instability. The global economy might benefit by $13 trillion from artificial intelligence by 2030, but 375 million jobs could be destroyed. The workplace could be one of the many areas of life where AI will bring about a revolution. It can streamline processes, save costs, and enhance decision-making. As a way to improve customer happiness, AI can also examine data for predictive analytics. It can lower construction and manufacturing accidents and generate new employment opportunities in data science, machine learning, and AI education. Workplace AI raises ethical concerns about racial bias, privacy, security, and democracy. While some argue it could lead to robotic employment, debate surrounds its potential for innovative work, new career opportunities, and enhanced judgment. In order to enhance patient experiences, detect ailments, and lessen blindness, India is utilizing AI in healthcare. India is the G20 leader in funding for computer vision, recommendation systems, and machine learning, with an average annual growth rate of 86% since 2011. The national AI plan for India aims to boost infrastructure development, workforce retraining, research, collaboration, and international cooperation on AI safety and security. It promotes responsible AI development, inclusive workplaces, and the balance of privacy interests while fostering data access, openness, and collaboration among educational institutions. India has a high acceptance rate for artificial intelligence notwithstanding any potential differences. This paper explores the effects of AI on 54% of computerization, emphasizing its potential to affect policy, income inequality, and employment growth. It also highlights a macroeconomic theoretical analysis of the technology. It emphasizes its important social and historical effect on the economy, politics, ecosystem, innovation, and promoting inclusive workforce frameworks. According to this point of view, the current situation is both socially and historically significant, as well as critically important.

IAEME PUBLICATION, 2024

Artificial Intelligence (AI) has emerged as a transformative force in enhancing financial data security, offering advanced capabilities to detect, mitigate, and prevent cyber threats in the digital age. This paper explores the integration of AI technologies within the financial sector, focusing on its applications in predictive security analytics, automated threat detection, and regulatory compliance. Key topics include the fundamentals of AI in cybersecurity, challenges in securing financial data, and ethical considerations in AI deployment. Future trends such as quantum-resistant cryptography, autonomous security operations, and the evolution of ethical AI governance are also discussed. By examining current practices, emerging trends, and regulatory frameworks, this research highlights AI's pivotal role in fortifying financial data defenses and shaping the future of cybersecurity strategies. Embracing AI-driven innovations responsibly promises to strengthen resilience against evolving threats while maintaining trust, compliance, and operational efficiency in financial ecosystems.

IEEE Engineering Management Review, 2024

The integration of artificial intelligence (AI) in business processes has revolutionized many industries by automating tasks, improving decision-making processes, and enhancing customer experiences. This review paper examines the impact of AI in business areas, including its applications, challenges, limitations, current trends, and future work. The paper begins with defining the importance of AI in business, followed by an overview of its applications in various sectors such as customer service, marketing, finance, healthcare, manufacturing, logistics, and human resources. The advantages and benefits of AI implementation are explored, along with examples of successful AI implementation and changes in business processes. The challenges and limitations of AI technology, such as ethical concerns, data privacy and security issues, technical expertise and knowledge, and high implementation costs, are explained. Current trends in AI integration, such as the integration of AI with other technologies, the growing demand for AI skills, and the development of more advanced and sophisticated AI algorithms, are presented.

The boundary between the physical and a virtual world is not clearly visible nowadays, the 4.0 industry utilizes artificial intelligence, distributed ledger technology, quantum computing, advanced visualization and other advanced technologies. The surge of capital flows in financial technology is visible wherever we look. Classical businesses face a challenge to connect and create partners with the companies that are technology savvy because this may impact their future success. The strategy for digital business must be thought over very thoroughly since it represents the success threshold in contemporary digital environment. The classic banking system faces the threat or opportunity of an open banking system and banks are forced to be prepared to offer next generation services benefiting from third party channels. The short history on the banking industry including digital banking along, with fintech as a financial institution showing its power to compete sophistically, will shift ...

Springer, 2024

An important factor in a nation's development is its economy. Islam places a strong emphasis on the necessity to gather resources in order to propel the economy towards prosperity and advancement. Islamic economics is a system founded on the Hadith and the Quran that strikes a balance between material and spiritual requirements. Islamic economics has tax systems like ji*zyah, kharaj, and ushur that, when correctly implemented by the government, can improve economic conditions. However, taxation in Islam has not received full attention. This literature review focuses on examining previous studies on taxation in Islam and evaluating the strengths and weaknesses of past research. The study adopts a library research approach and is based on a literature review. With this study, it is hoped to assist the Malaysian government in formulating a clearer and Sharia-compliant tax system in Malaysia that is undoubtedly perfect and fair for all Malaysian citizens.