A COMPREHENSIVE REVIEW OF AI APPLICATIONS IN FINANCE FOR ACCELERATING CLEAN ENERGY TRANSITION

Chibuike Daraojimba (), Moses Ikechukwu Obinyeluaku, Kehinde Mobolaji Abioye, Faith Ibukun Babalola and Noluthando Zamanjomane Mhlongo
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Chibuike Daraojimba: Graduate School of Technology Management, University of Pretoria, South Africa
Moses Ikechukwu Obinyeluaku: African African Export-Import Bank, Cairo, Egypt
Kehinde Mobolaji Abioye: Independent Researcher, New Jersey, USA
Faith Ibukun Babalola: The Pennsylvania State University, USA
Noluthando Zamanjomane Mhlongo: City Power, Johannesburg, South Africa

Information Management and Computer Science (IMCS), 2023, vol. 6, issue 1, 41-49

Abstract: The rapid evolution of Artificial Intelligence (AI) has introduced transformative possibilities across various sectors, with green finance emerging as a significant beneficiary. This study meticulously investigated the integration and implications of AI within the realm of green finance, aiming to elucidate its potential in catalyzing the global transition to sustainable energy. The research sought to comprehend AI’s trajectory in financial ecosystems, its contemporary financial ramifications, and its pivotal role in advancing clean energy financial mechanisms. Through a comprehensive exploration employing advanced analytical models, AI-driven financial projections, and collaborative initiatives between AI and renewable firms, the findings underscored AI’s unparalleled capabilities in forecasting, risk assessment, and the design of innovative financial instruments. AI-powered tools have proven instrumental in ensuring adherence to green regulations, thereby facilitating sustainable investment bonds. The study concluded that AI’s integration into green finance signifies a paradigmatic shift, redefining the methodologies of funding, evaluating, and executing renewable energy projects. Its potential is vast, heralding a future replete with innovative solutions and profound insights. Recommendations emphasize collaborations between renewable energy stakeholders and AI experts, advocate for standardized green finance metrics, and promote AI-informed governmental policies. Continuous research and stakeholder education are paramount for AI’s widespread acceptance in green finance. The confluence of AI and green finance promises a sustainable future, contingent upon strategic foresight and persistent innovation.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:zib:zbimcs:v:6:y:2023:i:1:p:41-49

DOI: 10.26480/imcs.01.2023.41.49

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