How Artificial Intelligence Is Promoting Financial Inclusion? A Study On Barriers Of Financial Inclusion

Abstract

Financial inclusion has received wider attention from policymakers worldwide, as it is considered a strong pillar for human development also. Traditional financial systems of countries are not able enough to attract all segments of society. There are various barriers to the legacy system which hinder the involvement of privileged members of society in the financial sector. This study is intended to provide theoretical insights on the role of Artificial Intelligence (AI) in promoting financial inclusion. The study supports the argument by providing realtime examples of AI applications being deployed by various countries in removing barriers to financial inclusion. AI implementation for promoting financial inclusion can be made possible by supporting regulatory framework and infrastructure.