TY - CHAP
T1 - Understanding the need of Blockchain technology and artificial intelligence, and transformation of financial services
T2 - A conceptual framework
AU - Kumar, Manoj
AU - Kumar, Sumit
AU - Ahmed, Rubina
PY - 2024/5
Y1 - 2024/5
N2 - Blockchain technology is a decentralized and immutable ledger that enables secure and transparent transactions. It operates through a link of computers that are recognized as nodes, where each node keeps a duplicate of the ledger. By removing the necessity for mediators, Blockchain ensures trust, security, and transaction efficiency, making it suitable for various applications beyond cryptocurrencies. The analysis of numerous papers reviewed captures an innovative change in technology in the insurance industry therefore concludes on the basis of the review of different articles, and website searches, that the positioning of Artificial intelligence systems in the financial industry particularly the insurance sector will continue to increase due to advances in technology and transformation toward digital financial services. The use of artificial intelligence systems can bring substantial benefits such as reduced cost, productivity increase, and better risk management.
AB - Blockchain technology is a decentralized and immutable ledger that enables secure and transparent transactions. It operates through a link of computers that are recognized as nodes, where each node keeps a duplicate of the ledger. By removing the necessity for mediators, Blockchain ensures trust, security, and transaction efficiency, making it suitable for various applications beyond cryptocurrencies. The analysis of numerous papers reviewed captures an innovative change in technology in the insurance industry therefore concludes on the basis of the review of different articles, and website searches, that the positioning of Artificial intelligence systems in the financial industry particularly the insurance sector will continue to increase due to advances in technology and transformation toward digital financial services. The use of artificial intelligence systems can bring substantial benefits such as reduced cost, productivity increase, and better risk management.
UR - https://link.springer.com/book/10.1007/978-3-031-47324-1
U2 - 10.1007/978-3-031-47324-1_12
DO - 10.1007/978-3-031-47324-1_12
M3 - Chapter (peer-reviewed)
SN - 9783031473234
T3 - Financial Mathematics and Fintech
SP - 195
EP - 210
BT - Applications of Block Chain technology and Artificial Intelligence
A2 - Irfan, Mohammad
A2 - Muhammad, Khan
A2 - Naifar, Nader
A2 - Khan, Muhammad Attique
PB - Springer
ER -