The Contribution of Artificial Intelligence, Blockchain, Big Data, and Predictive Analysis in the Banking Sector: Challenges and Perspectives

Abstract

The theory of public goods, developed by economists in the mid-20th century, provides an analytical framework to understand and guide collective actions in the field of global health. In addition to the commitment to human rights, these actions aim to ensure that all populations can benefit from this fundamental good. This article examines the criteria for classifying health as a public good and explores the tools and interventions necessary to preserve it as a universal right and a shared good. In a context characterized by global economic turbulence and a significant increase in consumer demand for digital banking solutions, the adoption of cutting-edge technologies such as artificial intelligence, blockchain, big data, and predictive analytics has become an unavoidable imperative and is at the heart of the strategies implemented by banking and financial institutions. This study aims to explore, through a comprehensive review of existing literature, the various applications of these innovative technologies as well as their contributions to the performance of banking institutions. It also seeks to identify the gaps, challenges, and opportunities related to the implementation of these technologies in the sector. The goal is to thoroughly understand the extent of the contribution of these technological innovations within the banking domain. The incorporation of these technologies within the banking industry compels institutions to revise their economic models and enhance their interactions with customers, with the aim of maximizing their operational efficiency and improving their financial performance. The literature review highlights the challenges banks face when integrating these avant-garde technologies. These challenges include, among others, securing data and transactions, the need to train personnel on technological novelties, as well as obstacles related to the acceptance of digital services by users. Researchers are advised to address the lack of detailed empirical research on the adoption and application of these innovative technologies, to provide decision-makers with crucial information for a deep understanding of the implications and perspectives offered by these technological evolutions.