The role of artificial intelligence technologies in expediting financial inclusion: the case of selected African countries

Maouloud, Vatimetou Mokhtar and Adam Sa'ad, Auwal and Kassim, Salina and Abdullah Othman, Anwar Hasan (2022) The role of artificial intelligence technologies in expediting financial inclusion: the case of selected African countries. Journal of Islamic Finance, 11 (2). pp. 138-148. ISSN 2289-2117 E-ISSN 2289-2109

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Abstract

Artificial intelligence (AI) is a revolutionary technology that has been used tremendously in the contemporary industrial revolution 4.0 technology. AI has played a crucial role in accelerating the financial inclusion rate by easing the use of financial products. From the African perspective, there is a very few notable uses of AI technologies in the banking and finance industry, but such uses are not advanced in nature. Therefore, this paper attempts to study the role of AI for financial inclusion in some selected African countries. This paper is a conceptual study that uses a systematic literature review of 11 recent published papers about the relationship between AI and financial inclusion in the context of Africa. This study uses various and most recent published papers obtained from different online databases (mainly Scopus, Emerald, Elsevier, Tailor & Francis, Springer, EBSCO, and JSTOR) to investigate the conceptual and empirical role of AI on financial inclusion and poverty in some selected African countries. The study reveals that mobile money and crowdfunding are the most common fintech tools used in Africa. Therefore, some recommendations are provided for governments and policymakers to instigate techniques that will enhance digital financial inclusion, including using Artificial Intelligence for poverty alleviation in Africa.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Africa, Artificial Intelligence, Digital financial inclusion, Fintech, Poverty alleviation
Subjects:	BPC Science and Technology in Islam
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	DR. Auwal Adam Sa'ad
Date Deposited:	12 Jan 2023 12:20
Last Modified:	12 Jan 2023 12:23
URI:	http://irep.iium.edu.my/id/eprint/103182

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