AI in risk management: An analytical comparison between the U.S. and Nigerian banking sectors

International Journal of Science and Technology Research Archive, Год журнала: 2024, Номер 6(1), С. 127 - 146

Опубликована: Март 30, 2024

This paper presents a comprehensive review of the application and impact Artificial Intelligence (AI) in risk management within banking sectors United States Nigeria, emphasizing comparative analysis. The objective is to assess how AI technologies are adopted implemented practices across these diverse environments, identifying benefits achieved challenges faced. synthesizes existing literature, including case studies, industry reports, academic research, outline current state management. It delves into various types such as credit, market, operational, compliance risks, exploring specific tools techniques employed address risks each country. Key findings suggest that U.S. banks have more mature implementation management, characterized by adoption advanced analytics, machine learning models, natural language processing for enhanced decision-making, fraud detection, monitoring. In contrast, Nigerian sector at nascent stage adoption, with efforts hampered like inadequate technological infrastructure, regulatory hurdles, lack skilled professionals AI. Despite differences, identifies strong interest potential growth applications sector, spurred an increasing recognition AI's value enhancing competitiveness meeting demands. Conclusively, underscores critical role supportive policies, investment capacity building human capital pivotal elements fostering effective integration analysis reveals both disparities areas collaboration between sectors, advocating global dialogue on best strategies

Язык: Английский

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Blockchain technology as a paradigm shift in banking security: Theoretical and practical insights

Open Access Research Journal of Engineering and Technology, Год журнала: 2024, Номер 6(1), С. 052 - 062

Опубликована: Март 26, 2024

This paper explores the theoretical underpinnings of blockchain technology and its practical applications in enhancing banking security. The financial landscape is experiencing a seismic shift as disruptive technologies like emerge. Blockchain, with core tenets decentralization, immutability, transparency, offers transformative approach to delves into foundations bolstering bank Theoretical Underpinnings at core, Distributed Ledger Technology (DLT). Imagine digital record transactions, not held by single entity, but replicated synchronized across vast network computers. distributed nature eliminates need for central authority, fostering trust transparency within system. Cryptographic hashing adds another layer Each transaction on cryptographically hashed, generating unique fingerprint. fingerprint linked previous transaction's hash, creating an immutable chain blocks. Any attempt tamper data would invalidate entire chain, ensuring integrity every transaction. Consensus mechanisms play vital role agreement. These mechanisms, Proof Work or Stake ensure all participants agree validity transactions current state ledger. Practical Applications Banking Security, Traditional systems rely centralized ledgers, susceptible fraud manipulation. Blockchain disrupts this paradigm offering, Enhanced Transaction eliminating intermediaries using cryptography, significantly reduces risk errors transactions. ledger ensures cannot be reversed altered once recorded. Streamlined Regulatory Compliance, regulatory compliance constant challenge banks. simplifies process providing auditable transparent

Язык: Английский

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CONCEPTUALIZING FINTECH'S IMPACT ON BANKING: A COMPARATIVE STUDY OF THE USA AND NIGERIA

Finance & Accounting Research Journal, Год журнала: 2024, Номер 6(3), С. 437 - 462

Опубликована: Март 28, 2024

This paper presents a comprehensive review of the impact Financial Technology (FinTech) on banking sectors in United States (USA) and Nigeria, offering comparative analysis to understand differential effects integration strategies FinTech across these two distinct economic contexts. Through an extensive literature review, synthesizes findings from previous studies, reports, industry analyses outline key dimensions FinTech's influence banking, including operational efficiencies, customer service innovations, regulatory challenges, broader implications for financial inclusion. In USA, highlights how has driven significant advancements through technological innovation, support, strong emphasis customer-centric services, leading enhanced efficiencies competitive market dynamics. Conversely, Nigerian sector reveals burgeoning landscape that, despite facing infrastructural hurdles, made notable strides promoting inclusion democratizing access services. The study underscores critical role frameworks, infrastructure, maturity shaping adoption solutions. It concludes that while transformative potential globally, its effective sustainable growth are highly dependent tailored consider unique socio-economic environments each country. calls collaborative approach among policymakers, institutions, companies foster support innovation ensuring stability consumer protection. By drawing lessons USA offers valuable insights other countries navigating complexities into their sectors. Keywords: FinTech, Banking Sector, Evolution, Impact, Comparative Analysis, Future Trends, Policy Recommendations, Inclusion, Innovation, Regulation, Cybersecurity, Digital Divide, Collaboration, Literacy, Artificial Intelligence, Blockchain, Biometric Authentication, Internet Things, Quantum Computing, Central Bank Currencies.

Язык: Английский

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A systematic review of criteria influencing the integration of BIM and Immersive Technology in building projects

Journal of Information Technology in Construction, Год журнала: 2025, Номер 30, С. 243 - 297

Опубликована: Март 7, 2025

Integrating Building Information Modeling (BIM) and Immersive Technologies (ImT) provides several benefits, such as the inclusion of clients in design process, thereby improving construction management practices. BIM's propensity for digital data management, coupled with ImT's enhanced communication coordination capabilities, addresses inherent issues like fragmentation collaboration challenges projects. While prior studies have primarily examined BIM ImT individually, limited research has explored synergistic integration these two technologies potential benefits they can offer when combined context architecture, engineering, (AEC) industry. This paper reviews strategies prospects integrating existing literature, aiming to identify categorize key socio-technical criteria that support successful ImT. A Systematic Literature Review (SLR) was accordingly employed, following PRISMA guidelines, analyzing 56 academic journals from Scopus ASCE Library databases on building projects 2013 May 2023. The results reveal various attributes integration, including use BIM-related software Autodesk Revit, hardware Oculus Rift HTC Vive, game engines Unity3D, standards FBX, collaborative platforms 360 Trimble Connect. Essential technical were identified aspects: emphasizing system optimization seamless exchange, alongside non-technical focusing user engagement, learning, effective stakeholder collaboration. study also highlights significant gaps, need standardized methodologies, more detailed discussions, user-centric strategies, pinpointing areas further exploration refine practices while providing valuable insights into adoption efficacy transformation AEC sector.

Язык: Английский

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The Role of Artificial Intelligence in Project Management; Improving Decision-Making, Resource Allocation, and Risk Assessment

Опубликована: Март 28, 2025

This study explores the role of artificial intelligence (AI) in project management by considering relationship and impact on resource allocation, decision-making, risk assessment. The research identifies machine learning (ML) deep (DL) as two commonly used AI tools that can help streamline processes for improved decision- making. With an emphasis beyond automation, which extends to decision support systems data-driven insights, findings suggest managers effectively deploy analyze historical data identify trends patterns informed choices, enhanced mitigation.

Язык: Английский

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Blockchain in banking: A comparative review of developments in the USA and Nigeria

International Journal of Science and Technology Research Archive, Год журнала: 2024, Номер 6(1), С. 108 - 126

Опубликована: Март 30, 2024

This review paper systematically examines the adoption and impact of blockchain technology within banking sectors United States America (USA) Nigeria, offering a comparative analysis developments across these divergent economic regulatory landscapes. Through an extensive literature review, synthesizes findings from range sources, including peer-reviewed journals, industry reports, case studies, to explore how is being integrated into operations, challenges encountered, opportunities it presents in both contexts. The reveals that USA, integration has progressed significantly, supported by mature technological infrastructure, clear environment, substantial investments financial innovations. facilitated enhancements transaction efficiency, security, cost reductions. Conversely, Nigeria’s at nascent stage, primarily focused on addressing inclusion improving efficiency cross-border payments. Despite this, uncertainties infrastructural deficits pose its broader adoption. concludes while offers potential transform operations globally, are heavily influenced specific national study underscores need for adaptive frameworks infrastructure development fully harness benefits sector. It advocates further research blockchain’s practical applications banking, emphasizing importance cross-country studies understand global implications.

Язык: Английский

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An Exploration of Consumer Engagement Strategies Through the Lens of Artificial Intelligence in Marketing Personalization

Advances in marketing, customer relationship management, and e-services book series, Год журнала: 2024, Номер unknown, С. 135 - 152

Опубликована: Июль 26, 2024

The study uses consumer involvement theory to examine AI's potential change marketing through personalization. Using client data and past encounters, AI may adapt messaging boost engagement. Gamification motivates consumers—AI provides individualized gamified for greater brand interactions. Predictive algorithms employ user customize adverts, product recommendations, demographic content. NLP systems assess sentiment from social media/reviews. Companies can make more engaging. Conversational improves connections with real-time recommendations support. Personalization increases satisfaction loyalty, but privacy requires transparency control. AI-driven tailored must be diverse avoid bias.

Язык: Английский

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Juncture of Data Analytics and Data Governance

Advances in business information systems and analytics book series, Год журнала: 2024, Номер unknown, С. 342 - 371

Опубликована: Июнь 28, 2024

Organizations aim to adopt data-driven approaches due the potential for deeper insights and more informed decision-making. This is particularly evident in realm of big data, which encompasses vast intricate datasets exceeding capacities conventional data processing software. Despite transformative derived from many businesses struggle with processing, analyzing, effectively utilizing this resource, even amidst widespread acknowledgment analytics context digital transformation. Big revolutionizes marketing strategies by offering profound into market segments, customer behaviors, preferences. It facilitates experimentation new products, approaches, pricing strategies, enhancing user experience optimizing campaign effectiveness. Through individualized targeting personalized initiatives driven analytics, organizations can tailor their offerings specific preferences, maximizing engagement conversion rates. chapter comprehensively explores transforms organizational processes across IT infrastructure management enabling decision-making providing a competitive advantage dynamic business landscape.

Язык: Английский

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Digitalization of Financial Reporting

Advances in finance, accounting, and economics book series, Год журнала: 2024, Номер unknown, С. 123 - 164

Опубликована: Ноя. 8, 2024

Digitalized financial processes are redefining 21st-century business landscapes. One area that has undergone significant transformation is reporting, which involves the preparation and presentation of essential reports enhance strategic decision making regulatory compliance. Automation data processing play a crucial role in this context by enhancing efficiency, accuracy, transparency generated. This chapter explores detail how advances these two areas digitalization revolutionizing reporting then analyzes relevant technologies their benefits challenges, as well best practices for implementation. Regulatory guidelines also examined terms implications future trends digital reporting.

Язык: Английский

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Cybersecurity in the Digital Era: A Comprehensive Framework for Safeguarding Data Integrity, Privacy and Critical Infrastructures Against Evolving Threats

International Journal of Advanced Research in Science Communication and Technology, Год журнала: 2024, Номер unknown, С. 471 - 486

Опубликована: Дек. 10, 2024

In an increasingly digital world, the transfer of data has become seamless yet growing reliance on technology amplified cyber threats endangering sensitive information. Existing cybersecurity measures often fail to keep pace with dynamic nature cyberattacks, particularly in areas like cloud computing, Internet Things (IoT)and online financial transactions. This highlights critical gaps safeguarding data, user awareness and incident management strategies. research paper proposes a comprehensive framework that addresses these by integrating risk management, secure configurations, privilege control advanced response mechanisms. Emphasizing infrastructures emerging technologies, study explores preventive measures, education monitoring solutions. By bridging current security practices, aims enhance integrity, privacy availability offering actionable solutions reduce vulnerabilities foster resilient environment for individuals, organizations governments

Язык: Английский

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