Abstract
Artificial Intelligence has disrupted the Financial Services Industry. The emerging innovations such as, machine learning, artificial intelligence, cryptocurrency, and data mining leave no financial institutions across the globe untouched. These advances have profoundly predisposed several facets of financial markets like investments, transfers, billings, rewards, insurance, remittances, underwriting etc. Fintech companies were the early adopters of these AI powered innovations to promote greater budgetary awareness, human life development, improved decision-making, and more. This paper explores the growth of Fintech in India, its associated challenges, and the opportunities emerging from high penetration, demographic dividend and connectivity to modern and affordable technology, low smartphone rates, and public policies like Digital India, Make in India, etc. Through uses cases of Artificial Intelligence, the paper also elaborates how Artificial Intelligence fosters fintech companies. Lastly, this paper suggests strategies that may help practitioners and researchers to tap the untapped potentials of Fintech in India.
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Gupta, R., Kukreja, G., Gupta, A., Tyagi, L. (2021). Artificial Intelligence Fostering Fintech: Emerging Trends and Use Cases. In: Agrawal, R., Sanyal, G., Curran, K., Balas, V.E., Gaur, M.S. (eds) Cybersecurity in Emerging Digital Era. ICCEDE 2020. Communications in Computer and Information Science, vol 1436. Springer, Cham. https://doi.org/10.1007/978-3-030-84842-2_5
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