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The Role of AI in Financial Services: A Bibliometric Analysis

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Digital Transformation in Financial Services Artificial Intelligence Applications FinTech, Crowdfunding, Digital Finance

Abstract

Financial Services (FS) and its integration of Artificial Intelligence (AI) has led to an improvement in various aspects of the field, such as fraud detection, investment performance, and risk management. With a focus on the investment, insurance, and banking industries, this study implements a Bibliometric Analysis (BA) by extensively analyzing existing works of literature in the field which provides an overview of the roles of AI in FS. In achieving a comprehensive overview of the objectives of the study, articles published in the Clarivate Web of Science (WoS) database from 1989 to 2023 were collected and analyzed using CiteSpace and VOS Viewer software applications. The results from this BA show a growth in the interest rate scholars’ have toward the role of AI in FS. One of the recommendations of the study is the integration of AI and human expertise in financial decision making.

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References

2021How to conduct a bibliometric analysis: An overview and guidelines 2019Best practice guidelines for abstract screening large‐evidence systematic reviews and meta‐analyses 2022Utilization of artificial intelligence in the banking sector: a systematic literature review 2014Scientometrics and information retrieval: weak-links revitalized 2018FinTech evolution: Strategic value management issues in a fast changing industry 2020BANKING 4.0: “THE INFLUENCE OF ARTIFICIAL INTELLIGENCE ON THE BANKING INDUSTRY & HOW AI IS CHANGING THE FACE OF MODERN DAY BANKS”2020Retracted: Efficiency Analysis of Machine Learning Intelligent Investment Based on K-Means Algorithm 2023Evaluation of non-financial information and its contribution to advancing the sustainable development goals within the Spanish banking sector

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