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Can AIGC help in Financial Technology? The Impact on Businesses and Consumers

In: Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)

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  • Haiwei Wang

    (Jiangxi University of Finance and Economics, Institute of Economic and Social Development)

Abstract

Financial technology (FT) has become a rapidly growing field, with the rise of digital payment, mobile banking, and online trading. The use of artificial intelligence (AI) and machine learning algorithms has allowed FT to greatly enhance the speed, accuracy, and ease of service. This paper explores the benefits that AIGC has on businesses, banks, and consumers. We focus on analyzing the rise in applications for AIGC within fintech and discuss the potential impact it has had on both business models and customer experience. We further explore the areas in which banks and consumers can benefit from the application of AIGC.

Suggested Citation

  • Haiwei Wang, 2024. "Can AIGC help in Financial Technology? The Impact on Businesses and Consumers," Advances in Economics, Business and Management Research, in: Luiz Moutinho & Carlos Flavian & Rita Yi Man Li & Qiwei Zhou (ed.), Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023), pages 216-227, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-260-6_28
    DOI: 10.2991/978-94-6463-260-6_28
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