Importance of artificial intelligence in achieving sustainable development goals through financial inclusion

Anam Fazal, Alia Ahmed and Sagheer Abbas

Qualitative Research in Financial Markets, 2024, vol. 17, issue 2, 432-452

Abstract: Purpose - The purpose of this paper is to provide evidence on the relationship between artificial intelligence (AI) and financial inclusion to achieve sustainable development goals (SDGs), an agenda set by United Nations for 2030. Financial inclusion is an enabler of 8 of the 17 SDGs. This paper emphasizes the introduction of AI in the financial sector, which is indispensable for achieving financial inclusion and plays a crucial role in the achievement of SDGs. Design/methodology/approach - This study adopts qualitative research methodology to highlight the significance of AI in achieving high levels of financial inclusion in an economy. Both narrative and comparative approaches are used to provide empirical evidence for reaching the UN SDGs target through AI-assisted financial inclusion. Findings - AI implementation in finance enables people to take part in the formal financial sector and thus, enhances economic growth and reduces poverty. Research limitations/implications - This research is limited in its data. Only five top AI applications are chosen and comparison is made between two countries only. Future research should consider it as an established concept and include more data to strengthen the evidence. Practical implications - The results of this paper will help policymakers convince governments and institutions to put their efforts toward AI implementation in financial infrastructure of countries. Originality/value - This research is unique in providing real-life examples and cases demonstrating the significance of AI implementation in the financial sector. Recent literature lacks evidence on the relationship of AI, financial inclusion and SDGs. This study adds to the existing literature by compiling data on top AI applications and comparing the performance of countries in achieving financial inclusion with the help of AI.

Keywords: Artificial intelligence; Financial inclusion; Sustainable development goals (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:qrfmpp:qrfm-04-2023-0098

DOI: 10.1108/QRFM-04-2023-0098

Access Statistics for this article

Qualitative Research in Financial Markets is currently edited by Prof Bruce Burton

More articles in Qualitative Research in Financial Markets from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().