The Use of Artificial Intelligence and Expert Systems in Finance: A Bibliometric Analysis

Developments in artificial intelligence technology have also had an impact on various sectors. One of the sectors where artificial intelligence technology is most widely used is finance. This fact arouses the interest of researchers, and the literature on applications of artificial intelligence in finance continues to grow. Therefore, the aim of this study is to examine the evolving literature on artificial intelligence and expert systems in finance. The bibliometric analysis approach was used to evaluate 452 articles published in the Scopus database between 1988-2022. Analyzes by country, university, journal, and author were performed using the R-based bibliometrix program. As a result of the study, it was found that although the number of articles has increased over the years, the largest increase occurred in recent years. The most productive and impactful journal is “Expert Systems with Applications†, and the most impactful author is Doumpos (2001). However, the institution and country with the highest number of publications are “Hunan University of Finance and Economics†and China, respectively. Moreover, China is the country with the most interactions. On the other hand, it was found that the most frequent keyword in the studied papers is artificial intelligence and that this concept has a strong connection with the concepts of finance and machine learning. The concept of expert systems ranks sixth in terms of the number of uses. The results of this study provide an overview of the literature on artificial intelligence and expert systems in finance.