Abstract
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.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.