Abstract:The main goal of this article is the comprehensive study of the applications of artificial intelligence in financial sectors in addition to startups and its impacts on such cases along with Covid19.
Methodology:we have tried to study the applications of artificial intelligence in different areas especially financial fields such as accounting, auditing, management, capital market, banking etc. On the other hand, we have studied the impacts of artificial intelligence on startups during Covid-19 too. Findings: Th… Show more
“…Additionally, AI has been recognized as a catalyst for the innovative financial process in the banking sector, transforming traditional processes to accelerate market share (Rabbani et al, 2023). The adoption of AI in the financial sector has been associated with opportunities and challenges, particularly during the COVID-19 outbreak, where AI has the potential to mitigate the harmful effects of the pandemic (Farahani & Esfahani, 2022). Overall, the 21st century has witnessed the pervasive integration of AI across industries, revolutionizing business processes, education, healthcare, and finance, and presenting both opportunities and challenges for various sectors.…”
Section: Ai Integration Trends In the United Statesmentioning
The relentless evolution of Artificial Intelligence (AI) has significantly transformed the landscape of business analytics, offering unparalleled opportunities for organizations to enhance decision-making processes and gain a competitive edge. This study provides a comprehensive review of AI integration in business analytics, focusing on the distinctive trends observed in both the United States (USA) and African business ecosystems. In the United States, a technologically advanced market, the adoption of AI in business analytics has witnessed remarkable strides. Corporations across various sectors leverage AI-driven tools and algorithms to analyze vast datasets, extract meaningful insights, and optimize strategic decision-making. The USA's emphasis on innovation and robust technological infrastructure has propelled AI integration as a cornerstone of modern business strategies. Contrastingly, the African continent is experiencing a unique trajectory in AI adoption within the realm of business analytics. Despite facing challenges related to infrastructure and resource limitations, African businesses are increasingly recognizing the transformative potential of AI. Initiatives promoting AI education and collaboration with global tech partners have contributed to a growing awareness and implementation of AI in business analytics across various African industries. This review explores commonalities and divergences in the trends observed between the USA and Africa, highlighting the factors influencing AI integration in each region. Factors such as regulatory frameworks, cultural nuances, and economic landscapes play a pivotal role in shaping the AI landscape in both contexts. By understanding these trends, businesses can tailor their AI strategies to align with regional dynamics, fostering sustainable growth and innovation. This study provides valuable insights into the evolving landscape of AI integration in business analytics, offering a comparative analysis of trends in the USA and Africa. As organizations navigate the complexities of adopting AI, acknowledging regional variations becomes crucial for developing effective and context-specific strategies.
Keywords: AI, Business Analytics, USA, Africa, Business, Innovation.
“…Additionally, AI has been recognized as a catalyst for the innovative financial process in the banking sector, transforming traditional processes to accelerate market share (Rabbani et al, 2023). The adoption of AI in the financial sector has been associated with opportunities and challenges, particularly during the COVID-19 outbreak, where AI has the potential to mitigate the harmful effects of the pandemic (Farahani & Esfahani, 2022). Overall, the 21st century has witnessed the pervasive integration of AI across industries, revolutionizing business processes, education, healthcare, and finance, and presenting both opportunities and challenges for various sectors.…”
Section: Ai Integration Trends In the United Statesmentioning
The relentless evolution of Artificial Intelligence (AI) has significantly transformed the landscape of business analytics, offering unparalleled opportunities for organizations to enhance decision-making processes and gain a competitive edge. This study provides a comprehensive review of AI integration in business analytics, focusing on the distinctive trends observed in both the United States (USA) and African business ecosystems. In the United States, a technologically advanced market, the adoption of AI in business analytics has witnessed remarkable strides. Corporations across various sectors leverage AI-driven tools and algorithms to analyze vast datasets, extract meaningful insights, and optimize strategic decision-making. The USA's emphasis on innovation and robust technological infrastructure has propelled AI integration as a cornerstone of modern business strategies. Contrastingly, the African continent is experiencing a unique trajectory in AI adoption within the realm of business analytics. Despite facing challenges related to infrastructure and resource limitations, African businesses are increasingly recognizing the transformative potential of AI. Initiatives promoting AI education and collaboration with global tech partners have contributed to a growing awareness and implementation of AI in business analytics across various African industries. This review explores commonalities and divergences in the trends observed between the USA and Africa, highlighting the factors influencing AI integration in each region. Factors such as regulatory frameworks, cultural nuances, and economic landscapes play a pivotal role in shaping the AI landscape in both contexts. By understanding these trends, businesses can tailor their AI strategies to align with regional dynamics, fostering sustainable growth and innovation. This study provides valuable insights into the evolving landscape of AI integration in business analytics, offering a comparative analysis of trends in the USA and Africa. As organizations navigate the complexities of adopting AI, acknowledging regional variations becomes crucial for developing effective and context-specific strategies.
Keywords: AI, Business Analytics, USA, Africa, Business, Innovation.
“…The integration of Artificial Intelligence (AI) solutions in developmental economics presents numerous challenges and obstacles that must be addressed to maximize the potential benefits and minimize potential risks. These challenges span from concerns about data privacy and security to ethical implications and access limitations, particularly in underserved areas (Ulnicane, 2022;Farahani, and Esfahani, 2022). Data privacy and security concerns represent significant challenges in the implementation of AI solutions in developmental economics.…”
Section: Challenges Of Implementing Ai Solutions In Developmental Eco...mentioning
AI presents immense potential in addressing the complex challenges of developmental economics, particularly in the realms of financial inclusion and poverty alleviation. This abstract explores the opportunities and challenges associated with integrating AI solutions in these critical areas. Financial inclusion, essential for sustainable development, remains hampered by barriers such as limited access to banking services, socioeconomic disparities, and regulatory constraints. AI offers innovative approaches through data analytics and prediction models, enabling tailored financial services, risk assessment, and personalized interventions. However, the implementation of AI solutions poses significant challenges, including concerns regarding data privacy, ethical implications such as algorithmic bias, and accessibility issues in underserved regions. Through case studies and best practices, lessons can be gleaned to inform future initiatives, emphasizing the importance of adaptable policy frameworks, collaboration, and impact assessment. Looking ahead, emerging AI technologies like blockchain and enhanced regulatory measures hold promise, necessitating cross-sector partnerships and a concerted effort to harness AI's transformative potential for sustainable development and inclusive growth.
Keywords: Developmental Economics, Financial Inclusion, Poverty Alleviation, AI Solutions, Challenges, Opportunities.
“…According to a report by the McKinsey Global Institute, AI and analytics technologies could contribute up to $13 trillion to the global economy by 2030 (Bughin et al, 2018). The transformative impact of these technologies is observed across various sectors, including healthcare, finance, manufacturing, and transportation (Shahvaroughi Farahani et al, 2022).…”
This paper explores the intersection of business analytics (BA) and artificial intelligence (AI) and their profound impact on modern enterprises. The integration of advanced analytics techniques and AI algorithms enables organizations to extract valuable insights from vast amounts of data, optimize decision-making processes, and gain a competitive edge in today's data-driven economy. This paper presents an overview of business analytics and AI, their key concepts, methodologies, and applications. Furthermore, it highlights the benefits, challenges, and ethical considerations associated with leveraging these technologies, providing guidance for successful implementation. By harnessing the power of business analytics and AI, organizations can unlock new opportunities for growth, efficiency, and innovation.
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