TY - GEN
T1 - AI-Powered Financial Services
T2 - 12th International Workshop on Enterprise Applications, Markets and Services in the Finance Industry, FinanceCom 2024
AU - Xiong, Huanhuan
AU - Carton, Fergal
AU - McCarthy, J. B.
N1 - Publisher Copyright:
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.
PY - 2025
Y1 - 2025
N2 - Artificial intelligence technologies have been widely used in financial services over the last decade, which have helped to reshape how financial institutions operate, interact with customers, and create/add value to existing services. This paper develops a value co-creation model encompassing service providers, consumers, data, AI technological applications, and their resultant co-created values in the financial services domain. This paper looks at four representative financial services—alternative creditworthiness, customized pricing, financial service automation, and personalized financial management—to clarify the integration of customer resources (primarily data) and provider resources (AI technologies) in the transformation process that yields tangible value for financial services and applications. This approach allows a nuanced understanding of how these resources are synergistically combined and leveraged to create innovative, value-added financial solutions.
AB - Artificial intelligence technologies have been widely used in financial services over the last decade, which have helped to reshape how financial institutions operate, interact with customers, and create/add value to existing services. This paper develops a value co-creation model encompassing service providers, consumers, data, AI technological applications, and their resultant co-created values in the financial services domain. This paper looks at four representative financial services—alternative creditworthiness, customized pricing, financial service automation, and personalized financial management—to clarify the integration of customer resources (primarily data) and provider resources (AI technologies) in the transformation process that yields tangible value for financial services and applications. This approach allows a nuanced understanding of how these resources are synergistically combined and leveraged to create innovative, value-added financial solutions.
KW - artificial intelligence
KW - Financial Services
KW - heterogeneous data resources
KW - machine learning
KW - value co-creation
UR - https://www.scopus.com/pages/publications/105003904429
U2 - 10.1007/978-3-031-89933-1_2
DO - 10.1007/978-3-031-89933-1_2
M3 - Conference proceeding
AN - SCOPUS:105003904429
T3 - Lecture Notes in Business Information Processing ((LNBIP,volume 541))
SP - 18
EP - 31
BT - International Workshop on Enterprise Applications, Markets and Services in the Finance Industry
Y2 - 10 October 2024 through 10 October 2024
ER -