Innovative Management Technologies of Decision Making in Modern Business Systems

Shchukina, Natalia A.; Tarasova, Irina

doi:10.1108/978-1-83867-475-520191009

Cited by 3 publications

(3 citation statements)

References 8 publications

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“…Artificial intelligence (AI) will concentrate on cognitive applications in business functions such as investing and compliance in the financial services industry (Tuya, 2017). By establishing a cryptographic distributed ledger amongst counterparties to conduct transactions, blockchain (BC) technology can save about 70% of the operating costs of investment banks' back-end operations (Shchukina and Tarasova, 2019).…”

Section: Introductionmentioning

confidence: 99%

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The Integration of Artificial Intelligence and Blockchain in the Banking Industry: A Critical Practice Based Evaluation of the Present Applications, Adoption, and Future Issues

2023

Central European Management Journal

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Digital transformation has resulted in tremendous changes in the banking area, with FinTech serving as the primary driving force within it. Artificial Intelligence (AI) and Blockchain technology, in particular, are the most innovative technologies in the banking business.Similarly, AI breakthroughs such as Chatbots in commercial banking and Robo-advisors in investment banking have brought banks into the whole virtual environment. This paper main objectives are: to critically evaluate and determine the current application of Artificial Intelligence and Blockchain in the banking industry, discuss the challenges faced by banks in adapting Artificial Intelligence and blockchain technology, and to provide new insights on future banking in the industry in this digital era.This article underlined the widespread usage of Artificial Intelligence robotic systems in banking. Chatbots and Robo-advisors, for example, could increase the productivity of frontline bank staff who are frequently involved in client relationship management, sales, and marketing. Additionally, robo-advisors are an advanced AI technology used in investing and portfolio management. When a decentralised digital ledger technology is utilised for financial transactions, blockchain will expedite digital transformation. Yet, this is the polar opposite of traditional centralised digital banking, and adoption of these technologies is still in its early stages. Collaboration with robots, improving platform performance, and so forth.Employment, performance, security, privacy and trust, cost, ethical and regulatory problems are the most typical challenges. To avoid obstacles, banks should focus on techniques such as collaborating with robots, improving platform performance, and so on. Ultimately, this study discusses the future of the banking business. In the future, banking consumers can experience totally virtual and customer-oriented financial services. In this sense, the integration of all technology as well as collaborative human effort is critical..

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Section: Introductionmentioning

confidence: 99%

“…Banks are one of the oldest enterprises on the planet, and they are typically the bedrock of huge economies. Resilient financial systems are at the forefront of technology advancement and provide the economic infrastructure required for economies to prosper (Shchukina and Tarasova, 2019).…”

Section: Introductionmentioning

confidence: 99%

The Integration of Artificial Intelligence and Blockchain in the Banking Industry: A Critical Practice Based Evaluation of the Present Applications, Adoption, and Future Issues

2023

Central European Management Journal

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“…Artificial intelligence (AI) will focus on cognitive application in functional areas of business with the financial services industry's investment and compliance sectors (Tuya, 2017). Blockchain (BC) technology can curb almost 70% of the operating cost in investment banks' back-end operations by creating a cryptographic distributed ledger between the counterparties to execute the transactions (Shchukina and Tarasova, 2019).…”

Section: Introductionmentioning

confidence: 99%

Innovation in banking: fusion of artificial intelligence and blockchain

Vedapradha

Ravi

2021

APJIE

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Purpose This study aims to analyze the importance of disruptive technological innovations on qualitative service delivery and their impact on the investment banks’ employee performance. Design/methodology/approach The cluster sampling method has been used to collect the primary data from the 250 respondents from foreign investment banks. Variables used are employee performance, service delivery, technology, security, operations, strategy and quality through chi-square, linear stepwise multiple regression analysis and correlation. Findings Storage network, operating cost, client reporting, cloud system and money laundering are the highest and most significant predictors of employee performance. Employee performance multiplies every unit with a strategic solution owing to positive and robust correlation (0.944). Fusion technology-based banks offer quality service to their clients. Originality/value A combination of artificial intelligence and blockchain ensures increasing automation to improve efficiency and reduce the operating cost creating a seamless integration in fraud detection, customer support, risk management, security, digitization and automation process, algorithmic trading, wealth management, etc.

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Evaluation of Investment Design Solution Efficiency and Risk Analysis in Petrochemical Industry

Leybert

Khalikova

2022

Business 4.0 as a Subject of the Digital Economy

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Innovative Management Technologies of Decision Making in Modern Business Systems

Cited by 3 publications

References 8 publications

The Integration of Artificial Intelligence and Blockchain in the Banking Industry: A Critical Practice Based Evaluation of the Present Applications, Adoption, and Future Issues

The Integration of Artificial Intelligence and Blockchain in the Banking Industry: A Critical Practice Based Evaluation of the Present Applications, Adoption, and Future Issues

Innovation in banking: fusion of artificial intelligence and blockchain

Evaluation of Investment Design Solution Efficiency and Risk Analysis in Petrochemical Industry

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