Artificial Intelligence and SHGs

2020 ◽  
pp. 291-303
Author(s):  
Vinay Kandpal ◽  
Osamah Ibrahim Khalaf
Keyword(s):  
Artificial Intelligence ◽  
Sustainable Development ◽  
Big Data ◽  
Financial Services ◽  
Efficient Solution ◽  
Cost Effective ◽  
Financial Inclusion ◽  
Women Empowerment ◽  
Loan Repayment ◽  
Brick And Mortar

For inclusive growth and sustainable development of SHG and women empowerment, there is a need to provide an environment to access quality services from financial and non-financial agencies. While banks cannot reach all people through a ‘brick and mortar' model, new and advanced banking technology has enabled financial inclusion through branchless banking. By using artificial intelligence in banking, banks have a cost-effective and efficient solution to provide access to services to the financially excluded. Digital technology improves the accessibility and affordability of financial services for the previously unbanked or underbanked individuals and MSMEs. A big data-driven model can also be helpful for psychometric evaluations. Several psychometric tools help evaluate the applicant's answers which aid to capture information that can help to predict loan repayment behavior, comprising applicants' beliefs, performance, attitudes, and integrity.

FinTech Adoption in China

2021 ◽  
pp. 166-173
Author(s):  
Gagan Kukreja
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Deep Learning ◽  
Financial Services ◽  
New Technologies ◽  
Large Population ◽  
Financial Inclusion ◽  
High Penetration ◽  
Digital Payments ◽  
Almost All

Almost all financial services (especially digital payments) in China are affected by new innovations and technologies. New technologies such as blockchain, artificial intelligence, machine learning, deep learning, and data analytics have immensely influenced all most all aspects of financial services such as deposits, transactions, billings, remittances, credits (B2B and P2P), underwriting, insurance, and so on. Fintech companies are enabling larger financial inclusion, changing in lifestyle and expenditure behavior, better and fast financial services, and lots more. This chapter covers the development, opportunities, and challenges of financial sectors because of new technologies in China. This chapter throws the light on opportunities that emerged because of the large population of 1.4 billion people, high penetration, and access to the latest and affordable technology, affordable cost of smartphones, and government policies and regulations. Lastly, this chapter portrays the untapped potentials of Fintech in China.

Exploring the Possibilities of Artificial Intelligence and Big Data Techniques to Enhance Gamified Financial Services

2022 ◽  
pp. 187-204
Author(s):  
María A. Pérez-Juárez ◽  
Javier M. Aguiar-Pérez ◽  
Miguel Alonso-Felipe ◽  
Javier Del-Pozo-Velázquez ◽  
Saúl Rozada-Raneros ◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Financial Institutions ◽  
Financial Services ◽  
Essential Role ◽  
Digital Natives ◽  
Digital Immigrants ◽  
Artificial Intelligence Techniques ◽  
New Challenges

A lot of millennials have been educated in gamified schools where they played Kahoot several times per week, and where applications like Classcraft made them feel like the protagonists of a videogame in which they had to accumulate points to be able to level up. All those that were educated in a gamified environment feel it is natural and logical that gamification is used in all areas. For this reason, gamification is increasingly becoming important in different fields including financial services, bringing new challenges. Gamification allows financial institutions to provide personalized and compelling experiences. Big data and artificial intelligence techniques are called to play an essential role in the gamification of financial services. This chapter aims to explore the possibilities of using artificial intelligence and big data techniques to support gamified financial services which are essential for digital natives but also increasingly important for digital immigrants.

Factors impacting the adoption of m-banking: understanding brand India’s potential for financial inclusion

2017 ◽  
Vol 11 (1) ◽  
pp. 22-40 ◽  
Author(s):  
Madhurima Deb ◽  
Aarti Agrawal
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Cost Effective ◽  
Perceived Usefulness ◽  
Financial Inclusion ◽  
Content Type ◽  
Personal Innovativeness ◽  
The Future ◽  
The Government ◽  
Digital Channels

Purpose The purpose of this study has been to understand brand India’s potential for financial inclusion in the future. As, digital channels like mobile banking (m-banking) are likely to provide better coverage and more cost-effective services to the unbanked population of India. Conventional banking might not be cost-effective for low-ticket-size transactions, hence financial inclusion, which is on the “Digital India” agenda of the Government of India (GoI), might not be feasible. However, to understand brand India’s potential for financial inclusion in the future, it would be essential to understand Indian customers’ attitudes toward m-banking, especially those who have not yet adopted it. This would bring out the potential of m-banking as a channel to drive financial inclusion based on customers’ intentions to adopt it. Until every Indian has access to a wider range of financial services, there cannot be financial inclusion. Similarly, until every Indian adopts digital channels to access a wider range of financial and non-financial services, the GoI’s initiatives for “Digital India” cannot be realized. Furthermore, a review of the literature suggests that there are very few studies concerning m-banking worldwide and still fewer in the context of India. Design/methodology/approach The present study used IBM SPSS and Amos software to test the conceptual model developed using secondary data. Findings The findings of the study suggest that subjective norm, output quality and personal innovativeness have impacts on the perceived usefulness of, and attitudes toward, the ultimate adoption of m-banking. Originality/value The paper is the original work of the authors. An attempt has been made to integrate all the existing literature on m-banking to develop a complete model for the technology’s adoption.

scholarly journals A Data-Driven Platform to Computer Performance Analysis and Recommendation using AI and Big Data Analysis

2021 ◽  
Author(s):  
Shuo Chen ◽  
Yu Sun
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Qualitative Evaluation ◽  
Cost Effective ◽  
Big Data Analysis ◽  
Data Driven ◽  
Computer Performance ◽  
Time And Energy ◽  
Artificial Intelligence Application ◽  
Intelligence Application

When I was assembling the computer, I found a problem. This problem is that we need to spend a lot of time and energy when we choose a desktop with a configuration and price that we are satisfied with [5]. Some computer websites will only recommend some ordinary desktops to users. Does not allow users to get what they really want, and some other shops that assemble computer mainframes use the characteristics of customers that do not understand computers to increase prices. So I wanted to create a software to help these people who need to assemble a computer to find the most suitable computer efficiently and in accordance with their requirements [6]. This program, according to the needs of users, artificial intelligence application crawler technology can help users find the most suitable computer parts based on big data, and help users get the most cost-effective self-assembled computer host. We applied our application to match a person in need of a computer host with My Platform and conducted a qualitative evaluation of the method [7]. The results showed that My Platform can efficiently and quality match the user's needs and find the best solution for the user.

Impact of Microfinance on Women Empowerment

2016 ◽  
Vol 5 (1) ◽  
Author(s):  
Jitendra S. Gandhi
Keyword(s):  
Literature Review ◽  
Financial Development ◽  
Financial Services ◽  
Human Life ◽  
Financial Inclusion ◽  
Quantitative Aspect ◽  
Women Empowerment ◽  
Poverty Eradication ◽  
Rural Finance ◽  
The Impact

Micro-finance has proved its importance in relation to poverty eradication, financial development, rural finance, banking and financial services in India. Though the India had philanthropic philosophy to help each other and grow together, micro-finance helped the same in a more institutional and organized manner. India is a diverse country in every aspect of human life which applies to its poverty too. Each region of India has its own language of poverty. Micro-finance also puts forward the movement of financial inclusion of women across the community. Micro-finance has come forward as a ray of hope for the women who are supposed to be equally participating in financial inclusion. The impact of micro-finance in the area of women empowerment in India is still neglected and less documented concept especially in the spectrum of research. The present article is an outcome of literature review which clearly indicates the impact of micro-finance movement in the process of women empowerment. The article has utilized qualitative as well as quantitative aspect to explore the impact of micro-finance in the process of women empowerment.

GDPR vs. Big Data & AI in FinTechs

2020 ◽  
Vol 89 (4) ◽  
pp. 55-72
Author(s):  
Nermin Varmaz
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Data Protection ◽  
Financial Services ◽  
High Speed ◽  
Personal Data ◽  
General Data Protection Regulation ◽  
Spending Patterns ◽  
General Data ◽  
Initial Processing

Summary: This article addresses the compliance of the use of Big Data and Artificial Intelligence (AI) by FinTechs with European data protection principles. FinTechs are increasingly replacing traditional credit institutions and are becoming more important in the provision of financial services, especially by using AI and Big Data. The ability to analyze a large amount of different personal data at high speed can provide insights into customer spending patterns, enable a better understanding of customers, or help predict investments and market changes. However, once personal data is involved, a collision with all basic data protection principles stipulated in the European General Data Protection Regulation (GDPR) arises, mostly due to the fact that Big Data and AI meet their overall objectives by processing vast data that lies beyond their initial processing purposes. The author shows that within this ratio, pseudonymization can prove to be a privacy-compliant and thus preferable alternative for the use of AI and Big Data while still enabling FinTechs to identify customer needs. Zusammenfassung: Dieser Artikel befasst sich mit der Vereinbarkeit der Nutzung von Big Data und Künstlicher Intelligenz (KI) durch FinTechs mit den europäischen Datenschutzgrundsätzen. FinTechs ersetzen zunehmend traditionelle Kreditinstitute und gewinnen bei der Bereitstellung von Finanzdienstleistungen an Bedeutung, insbesondere durch die Nutzung von KI und Big Data. Die Fähigkeit, eine große Menge unterschiedlicher personenbezogener Daten in hoher Geschwindigkeit zu analysieren, kann Einblicke in das Ausgabeverhalten der Kunden geben, ein besseres Verständnis der Kunden ermöglichen oder helfen, Investitionen und Marktveränderungen vorherzusagen. Sobald jedoch personenbezogene Daten involviert sind, kommt es zu einer Kollision mit allen grundlegenden Datenschutzprinzipien, die in der europäischen Datenschutzgrundverordnung (DS-GVO) festgelegt sind, vor allem aufgrund der Tatsache, dass Big Data und KI ihre übergeordneten Ziele durch die Verarbeitung großer Datenmengen erreichen, die über ihre ursprünglichen Verarbeitungszwecke hinausgehen. Der Autor zeigt, dass sich in diesem Verhältnis die Pseudonymisierung als datenschutzkonforme und damit vorzugswürdige Alternative für den Einsatz von KI und Big Data erweisen kann, die FinTechs dennoch in die Lage versetzt, Kundenbedürfnisse zu erkennen.

scholarly journals Correction: How Can Artificial Intelligence Make Medicine More Preemptive? (Preprint)

2020 ◽  
Author(s):  
Usman Iqbal ◽  
Leo Anthony Celi ◽  
Yu-Chuan Jack Li
Keyword(s):  
Artificial Intelligence ◽  
Health Care ◽  
Big Data ◽  
Early Detection ◽  
Cost Effective ◽  
Screening Tools ◽  
Early Detection Of Disease ◽  
New Era ◽  
Predictive Approach ◽  
Data Screening

UNSTRUCTURED In this paper we propose the idea that Artificial intelligence (AI) is ushering in a new era of “Earlier Medicine,” which is a predictive approach for disease prevention based on AI modeling and big data. The flourishing health care technological landscape is showing great potential—from diagnosis and prescription automation to the early detection of disease through efficient and cost-effective patient data screening tools that benefit from the predictive capabilities of AI. Monitoring the trajectories of both in- and outpatients has proven to be a task AI can perform to a reliable degree. Predictions can be a significant advantage to health care if they are accurate, prompt, and can be personalized and acted upon efficiently. This is where AI plays a crucial role in “Earlier Medicine” implementation.

scholarly journals Does financial inclusion empower women in emerging countries? A panel data analysis

2020 ◽  
Author(s):  
Chandan Kumar Roy ◽  
Banna Banik ◽  
Huang Xiaoling
Keyword(s):  
Sustainable Development ◽  
Gender Inequality ◽  
Emerging Economies ◽  
Fixed Effects ◽  
Panel Data Analysis ◽  
Estimation Method ◽  
Financial Inclusion ◽  
Gender Development ◽  
Women Empowerment ◽  
And Gender

Abstract Women empowerment is inevitable and a fundamental goal for inclusive growth and sustainable development. The study aims to analyze the effect of financial inclusion on women empowerment using both fixed-effects and panel generalized methods of moments (GMM) estimation techniques covering a panel dataset of 50 emerging economies from 2005 to 2017. We use accessibility to automated teller machine services, availability of bank branches and accessibility to bank assets as three different measures of financial inclusion and gender inequality index, gender development index and political participation of females as the measure of women empowerment. We find evidence that each measure of financial inclusion is associated with lower gender inequality, higher gender development and more opportunities for political involvement of women respectively. Using different econometric estimation method and a board range of inclusion measures confirms the more robust association between financial inclusion and women empowerment. The study, thus, concludes that financial inclusion plays an important role in the welfare of female and girls which would further assist emerging economies to achieve Sustainable Development Goal 5.

scholarly journals FINANCIAL INCLUSION AND WOMEN EMPOWERMENT: A GENDER PERSPECTIVE

2018 ◽  
Vol 6 (5) ◽  
pp. 229-237
Author(s):  
Bincy George ◽  
K.T. Thomachan
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Financial Inclusion ◽  
Women Empowerment ◽  
Bank Account ◽  
Banking Services ◽  
Income Groups ◽  
The Social ◽  
Social And Economic Development ◽  
Low Income Groups

This paper examines women empowerment associated with financial inclusion. Financial inclusion is delivery of banking services at an affordable cost to the vast sections of disadvantaged and the low-income groups. The various financial services include access to saving, credit, insurance, bank account etc. The access to financial services helps women in their social and economic development. It is noted that access to financial service through financial inclusion do have impact upon the social and financial empowerment of women leading to their overall empowerment.

Financial Technologies (FinTech), Instruments, Mechanisms, and Financial Products in the Current Context of Artificial Intelligence and Globalization

2021 ◽  
pp. 22-45
Author(s):  
Otilia P. Manta
Keyword(s):  
Artificial Intelligence ◽  
Financial Services ◽  
Holistic Approach ◽  
Virtual Space ◽  
Financial Inclusion ◽  
Financing System ◽  
Financial Innovations ◽  
Financial Products ◽  
Current Context ◽  
The One

The holistic approach of the phenomenon of expansion of financial innovations, respectively of current financial technologies, as otherwise abbreviated to FinTech, knows very specific elements and is adapted to the global financial context, and lately, the share of financial services in the virtual space is dominant compared to their traditional form. Moreover, this new financing instrument has arisen mainly due to the need to streamline the financing system, based on technology, either to provide financial services adapted to the current needs of consumers (especially those who are in need of financing, this is also the real reason for the FinTech coupling of the financial inclusion of the financially excluded), as well as the design of new financial products that are reliable and responsive to the market. The financial space is dual, presenting two often contradictory assumptions (all channels, stocks, and collection flow, on the one hand; and all entities, channels, stocks, and investment flows), and in the current context of digital financial technologies, this is in virtual space.

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