Artificial Intelligence-Enhanced Predictive Insights for Advancing Financial Inclusion: A Human-Centric AI-Thinking Approach

Abstract

According to the World Bank, a key factor to poverty reduction and improving prosperity is financial inclusion. Financial service providers (FSPs) offering financially-inclusive solutions need to understand how to approach the underserved successfully. The application of artificial intelligence (AI) on legacy data can help FSPs to anticipate how prospective customers may respond when they are approached. However, it remains challenging for FSPs who are not well-versed in computer programming to implement AI projects. This paper proffers a no-coding human-centric AI-based approach to simulate the possible dynamics between the financial profiles of prospective customers collected from 45,211 contact encounters and predict their intentions toward the financial products being offered. This approach contributes to the literature by illustrating how AI for social good can also be accessible for people who are not well-versed in computer science. A rudimentary AI-based predictive modeling approach that does not require programming skills will be illustrated in this paper. In these AI-generated multi-criteria optimizations, analysts in FSPs can simulate scenarios to better understand their prospective customers. In conjunction with the usage of AI, this paper also suggests how AI-Thinking could be utilized as a cognitive scaffold for educing (drawing out) actionable insights to advance financial inclusion.

Predictive Insights for Improving the Resilience of Global Food Security Using Artificial Intelligence

“…To build safer, future-proof food protection technologies, food researchers and policymakers who are not computer scientists can leverage AI to support decision-making to design better food security systems that are future-ready. The current paper contributes significantly to the extant literature by providing a user-friendly approach so that AI usage is democratized [60,61]. This allows novice AI users to perform research analysis using probabilistic reasoning using BN.…”

Human-Centered Artificial Intelligence: The Superlative Approach to Achieve Sustainable Development Goals in the Fourth Industrial Revolution

“…Access to finance, according to How et al [13], is a crucial factor in poverty alleviation, but financial institutions must know how to target the neglected effectively.…”

“…How et al [13] went on to say that using artificial intelligence (AI) for data records can assist financial institutions in predicting how prospective clients will react when contacted. However, how et al [13] suggested that implementing AI projects for financial service providers who are not computer programmers remains difficult.…”

“…How et al [13] went on to say that using artificial intelligence (AI) for data records can assist financial institutions in predicting how prospective clients will react when contacted. However, how et al [13] suggested that implementing AI projects for financial service providers who are not computer programmers remains difficult. As a result, How et al [13] developed a no-coding, human-centric AI-based methodology for simulating the probable dynamics between prospective customers' financial profiles, obtained from 45,211 contact experiences and predicting their intention toward the financial goods being sold.…”

“…However, how et al [13] suggested that implementing AI projects for financial service providers who are not computer programmers remains difficult. As a result, How et al [13] developed a no-coding, human-centric AI-based methodology for simulating the probable dynamics between prospective customers' financial profiles, obtained from 45,211 contact experiences and predicting their intention toward the financial goods being sold. Awan et al, [14] suggested, in another study, that artificial intelligence (AI) becomes an increasingly effective digital domain that promises to promote instant accessibility to facts, as well as efficient decision-making, in ever-increasing business situations.…”