Analysis of the use of artificial intelligence in the digital financial environment in Ukraine

Abstract

The integration of artificial intelligence (AI) in the digital financial environment of Ukraine presents numerous opportunities and challenges. The purpose of the paper is to analyze the current state and future prospects of AI applications in the Ukrainian financial sector. By examining successful case studies, the study will evaluate the effectiveness of AI implementations in banks and financial institutions. Key success factors and barriers to AI adoption will be identified, providing insights into best practices and common pitfalls. The regulatory landscape is crucial for fostering innovation while ensuring security and compliance. This research will explore the existing regulatory framework in Ukraine, identifying gaps and proposing recommendations to enhance the legislative support for AI advancements in the financial sector. Understanding how regulations can balance innovation with consumer protection is essential for sustainable growth. Data protection and cybersecurity are critical issues in the digital financial environment. The study will investigate the impact of AI on these areas, assessing how AI technologies can both bolster and threaten security measures. By analyzing current strategies and technologies used to protect financial data, the research will offer insights into improving cybersecurity in AI-driven financial services. Additionally, the social and economic implications of AI adoption will be explored. The research will examine how AI affects employment in the financial sector, considering both the potential for job displacement and the creation of new roles. The changing skill requirements and the need for workforce retraining will be discussed, emphasizing the importance of education and training programs to prepare for an AI-driven economy. Furthermore, the study will delve into the ethical considerations surrounding AI use in finance. Issues such as algorithmic bias, transparency, and accountability will be analyzed to ensure that AI applications are fair and equitable. By addressing these ethical concerns, the research aims to contribute to the development of responsible AI practices in the financial industry. In conclusion, this research will provide a comprehensive analysis of AI in the digital financial environment of Ukraine. By addressing the technological, regulatory, security, social, and ethical dimensions, the study aims to offer a holistic view of AI’s impact and potential in the Ukrainian financial sector. The findings will be valuable for policymakers, financial institutions, and technology developers, guiding them towards effective and responsible AI integration.