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Finance in the World of Artificial Intelligence and Digitalization
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Author(s): Silvije Orsag (Faculty of Economics and Business, University of Zagreb, Croatia), Dejan Mikerević (Faculty of Economics, University of Banja Luka, Bosnia and Herzegovina)and Lidija Dedi (Faculty of Economics and Business, University of Zagreb, Croatia)
Copyright: 2021
Pages: 20
Source title:
Handbook of Research on Applied AI for International Business and Marketing Applications
Source Author(s)/Editor(s): Bryan Christiansen (Global Training Group, Ltd, UK)and Tihana Škrinjarić (University of Zagreb, Croatia)
DOI: 10.4018/978-1-7998-5077-9.ch009
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Abstract
This chapter considers finance in the world of artificial intelligence and digitalization with a special focus on the role and physical forms of money throughout history, modes of executing financial transactions, development of banking and investment industry, and its overall importance for financial management. Innovative and alternative business solutions in the financial industry result from the development of modern technologies, information and communication networks, smart devices, and various applications. Digital money and cryptocurrencies are extremely interesting current phenomena producing a broad range of speculations and mystery about their role in the future. Electronic payments bring many benefits and opportunities for corporate finance, capital markets, and investment and banking activities. Digitalization of business operations and use of artificial intelligence applications increases competitiveness and efficiency of all controlling processes and improves corporate risk management and at the same time decreases information asymmetry in the market.
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