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Exploring the Impact of Artificial Intelligence on Financial Inclusion: Cross-Country Analysis

Author

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  • Yogeeswari Subramaniam

    (Universiti Teknologi Malaysia)

  • Nanthakumar Loganathan

    (Universiti Teknologi Malaysia)

  • Fatin Nur Hidayah Taib Khan

    (Universiti Malaysia Sarawak)

  • Thirunaukarasu Subramaniam

    (Universiti Malaya)

Abstract

This study uses panel data from 29 countries that were categorised from low to high in terms of AI adoption from 2017 to 2021 to investigate the impact of artificial intelligence on financial inclusion. The study employed both static and dynamic Generalized Method of Moments (GMM) panel data estimations to achieve the research objective. The findings show that artificial intelligence is a statistically significant determinant of financial inclusion and helps promote financial inclusion in countries that adopt artificial intelligence. Besides that, robustness analysis conducted for alternative measures of AI, and the results continue to demonstrate that AI contributes to financial inclusion by addressing some of the issues that have historically made it difficult for some groups to receive financial services. As a result, significant expansion, and the deployment of artificial intelligence in the finance sector are required to overcome existing financial exclusion and promote financial inclusion. and solve the existing financial exclusion issues.

Suggested Citation

  • Yogeeswari Subramaniam & Nanthakumar Loganathan & Fatin Nur Hidayah Taib Khan & Thirunaukarasu Subramaniam, 2025. "Exploring the Impact of Artificial Intelligence on Financial Inclusion: Cross-Country Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 178(3), pages 1227-1244, July.
    • Handle: RePEc:spr:soinre:v:178:y:2025:i:3:d:10.1007_s11205-024-03380-1
    DOI: 10.1007/s11205-024-03380-1
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