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Revolutionizing the financial landscape: A review on human-centric AI thinking in emerging markets
The emergence of Industry 4.0 has transformed the financial landscape by integrating unconventional technologies and artificial intelligence (AI) into consumer interactions. This chapter explores the evolving paradigm of human-centric AI-thinking in the context of emerging customer interactions in making financial decisions. The review analyses the opportunities and the challenges that arise from the integration of AI tools and human-centric approaches in addressing the diverse needs and behaviours of consumers within emerging financial markets. More specifically, the review critically examines the utilization of AI-driven technologies, such as predictive analytics, natural language processing (NLP), and machine learning algorithms, in customising the financial services to cater the emerging-market consumers. Moreover, the current study explicates how AI enables personalized customer interactions, risk assessments, and ethical decision making and financial inclusion strategies while considering the socioeconomic and cultural landscapes. The study has focussed on addressing the concerns related to data privacy, risk assessment, and transparency towards AI-powered financial solutions with ethical standards. Through an exhaustive analysis of current trends, and empirical evidence from the existing literature, this review highlights the inevitability of human-centric AI-thinking approach towards financial services decision making. It emphasizes the importance of congruent AIdriven financial solutions in the context of banking where the determinants such as empathy, financial literacy, ethical considerations, and human values plays a significant role in finding the financial services in emerging markets. This research explores the challenges and prospects and has made commendations to all the major stakeholders such as industry stakeholders, policymakers, practitioners, customers, and service providers to create a dynamic financial landscape of Industry 4.0 in AI technologies that embrace a human-centric ethos to meet the evolving needs of consumers within emerging financial ecosystems. 2024, IGI Global. All rights reserved. -
Risk management of future of Defi using artificial intelligence as a tool
This chapter explores AI's pivotal roles in managing risks within DeFi, emphasizing strategic implementation to enhance risk assessment, management, and decisionmaking processes for a better user experience. The convergence of AI and DeFi presents unprecedented opportunities, fostering transparency and decentralization. Drawing from diverse sources, the study evaluates AI's effectiveness, particularly in machine learning, in addressing emerging risks. It focuses on how AI can guide DeFi's future while managing market and credit risks through tasks like data preparation, modeling, stress testing, and validation. Additionally, AI aids in data quality assurance, text mining, and fraud detection. Emphasis is placed on identifying and managing risks that could hinder DeFi's future, highlighting key AI techniques. Given the financial industry's ongoing transformation, these insights are increasingly vital. 2024, IGI Global. All rights reserved. -
Risks and ethics of nanotechnology: an overview
Environmental nanotechnology is thought to be important to current environmental engineering and scientific techniques. The biomedical, textile, aerospace, manufacturing, cosmetics, oil, defense, agricultural, and electronics industries can all benefit from the use of nanotechnology to enhance a wide range of material properties, including physical, chemical, and biological properties. However, nanotechnology-based products or nanomaterials (e.g., nanofibers, nanowires, nanocomposites, and nanofilms) may be harmful to human health. Since nanomaterials are usually manufactured using novel manufacturing techniques and have a variety of sizes, shapes, and surface energies, there can also be uncertainties in their manufacture and handling. This chapter provides a detailed account of ethical issues related to nanotechnology, particularly environmental toxicity, risk management, health risk evolution, and environmental significance of nanomaterials. In addition, environmental challenges, toxic effect of nanoparticles on the environment, ethics of nanotechnology, and social, ecological, biological, and other legal issues are highlighted. The potential of nanomaterials in environmental remediation and their use in environmental protection is also emphasized. 2023 Elsevier Inc. All rights reserved. -
Robo-revolution: How automated financial advisors are reshaping global finance
Robo-advisors have the potential to revolutionise the financial service industry by making it more accessible and affordable. This study provides a comprehensive overview of robo-advisors in the arena of financial markets and investments and their gaining popularity in the fintech industry, particularly in emerging markets like India. It also discusses the changing landscape of the financial sector in India, benefits and challenges of fintech, and the legal and ethical implications of roboadvisors. The current study presents a comparative study between India and UK markets in terms of acceptance and penetration of robo-advisors. It highlights leading robo-advisory firms in India. The data visualisation is done with the help of Microsoft Power BI and Microsoft Excel on the statista survey data. The expected results of this study assist several stakeholders, such as academicians, researchers, investors, stock brokers, regulators, and policy makers. 2024, IGI Global. All rights reserved. -
Robotics: challenges and opportunities in healthcare
Today, healthcare services and systems are becoming very complex and include a large number of entities characterized by shared, distributed and heterogeneous devices, sensors, and information and communication technologies. Various artificial intelligence techniques have been implemented in various sectors like smart cities, energy, IT sectors, banking, agriculture, retails, and many more, but it has been always challenging to demonstrate this technique effectively in healthcare sector due to its sophisticated procedure and its handling. Data analytics research on healthcare data has grown significantly over the past 10-12 years, and the execution of data analytics algorithms and systems in healthcare has been progressing more quickly. The data analytics service section has gained considerable attention with the development of technology, especially artificial intelligence robots, in the healthcare sector. Robots can help people with cognitive, sensory, and motor disabilities, help the sick or injured, support caregivers, and assist the clinical workforce. The purpose of this study is to provide historical evolution of robotics in healthcare with an overview of the influence of robots in healthcare like clinical support, patient transfer in hospitals, to handle heavy surgical instruments, to transport medical waste, for drug delivery, patient management etc. Furthermore, this chapter also covered the challenges and opportunities in healthcare and also offers a comprehensive aspect at how robots are incorporate in various healthcare applications. 2025 Elsevier Inc. All rights reserved. -
Role of AI in Strengthening ESG Governance: Perspective From Industry Experts
Socially conscious investors, especially Gen Z, value ethics over money. ESG reports are as important as financial reports for them. ESG ratings from various sources can puzzle these Gen Z investors, as there is no standardization in ESG data. Firstly, the chapter focuses on the need to integrate AI into ESG reporting by highlighting the limitations of mere frameworks such as GRI, SASB, and ISSB. Secondly, it emphasizes the difference between traditional reporting and AI-integrated ESG reporting. It also points out the challenges of AI integration and ways to overcome these challenges. Lastly, the chapter also proposes the need for a unified framework, making it easier for investors to compare and make decisions. 2024, IGI Global. All rights reserved. -
Role of AI in the inventory management of agri-fresh produce at HOPCOMS
Inventory management is vital for maintaining the efficiency of supply chain management. Fruits and vegetables being perishable in nature should involve inventory management to avoid wastage and loss in terms of over stocking and stock out situations. The present study focuses on the role of artificial intelligence (AI)-powered inventory management of fruits and vegetables at HOPCOMS, a cooperative society founded in Bangalore. In the road to satisfy the customers, it is necessary for the society to come up with different strategies to manage the inventories in which a retailer confronts overstock and stock out situation, affecting the profit of the society. Therefore, a study was conducted with the help of structured questionnaire among 122 retailers of HOPCOMS outlets in Bangalore. The results obtained from the study suggest that inventory valuation method positively influences AI-powered demand forecasting and customer order fulfillment, and AI-powered demand forecasting is positively related to customer order fulfillment. 2023, IGI Global. All rights reserved. -
Role of Artificial Intelligence in Neuroimaging for Cognitive Research
Artificial intelligence (AI)-based solutions are used in most of our daily activities. AI has been adapted and it has found various applications. Cognitive research is one area where AI has been applied to understand the hidden patterns in the data. Neuroimaging techniques investigate the neural basis of cognitive processes like perception, attention, memory, language, reasoning, decision-making, and problem-solving. The irregularities in the cognitive process lead to cognitive disabilities and diseases. Neuroimaging techniques, including magnetic resonance imaging (MRI), functional MRI (fMRI), electroencephalography (EEG), and positron emission tomography (PET), along with other data-gathering techniques, are studied to identify cognitive disorders. The imaging techniques generate large amounts of complex data. AI methods, including machine learning (ML), deep learning (DL), natural language processing (NLP), and computer vision, are applied and used to analyse and interpret the data generated by various imagining techniques. Numerous techniques have been designed, developed, and proposed to handle the neuroimaging data for cognitive research with the help of AI techniques. AI techniques include ML algorithms like decision trees, random forest, support vector machine (SVM), principal component analysis (PCA), and DL algorithms, including convolution neural networks (CNNs), long short-term memory (LSTM), and generative adversarial networks (GANs). Recent advancements in the field of neuroimages use AI techniques to preprocess, process, and analyse the data generated by various neuroimaging modalities. This chapter provides an in-depth analysis and summary of various AI techniques for processing neuroimages for cognitive disorders. 2024 selection and editorial matter, Anitha S. Pillai and Bindu Menon; individual chapters, the contributors. -
Role of blockchain technology for user data security in metaverse
The metaverse is generating widespread interest among organizations of various scales, as companies acknowledge its capacity for profound transformation. Prominent organizations are actively adopting the metaverse concept to improve their operations and interact with clients in innovative and captivating manners. This chapter examines the vital function that blockchain plays in bolstering user data security as it explores the urgent problem of data breaches in the metaverse sector. The authors also carefully examine recent data breach cases in the metaverse sector, such as sandbox incursions, deepfake attacks, and digital avatar assaults. By outlining these practical difficulties, they make clear how urgent it is to come up with reliable ways to safeguard user data in the metaverse. The study findings have emphasized the dynamic and evolving nature of the metaverse industry, which is now undergoing substantial development and continuous exploration. They have also focused on significant blockchain technologies that demonstrate potential in ensuring data security. 2024, IGI Global. All rights reserved. -
Role of Digital Lending in Serving Financially Excluded Individuals and Small Medium Businesses in India
Financial inclusion has become a national strategy for the achievement of an inclusive economy and inclusive society in emerging countries. Access and continuous usage of formal financial services by the financially excluded people are known as financial inclusion. Financially excluded people are still there across the globe and in India. In India, although there are many supply-side and demand-side constraints for promoting financial inclusion, the vital constraint of financial inclusion is the inability of formal financial institutions to serve the unbanked and underbanked by adopting disruptive technologies for their business models and by developing and delivering innovative and customised financial products and services. Formal financial institutions embrace technologies such as Artificial Intelligence, Machine Learning, and Big Data Analytics for their operations in a gradual pace when compared to FinTech start-ups. But Digital Lending Start-ups make all the efforts to serve the unbanked and underbanked population through AI-powered alternative scoring methodology and customised digital loans. This article focuses on the process in which Digital Lending Start-ups serve the financially excluded individuals and Small and Medium Businesses in India. Further, this article analyses the growth, acceptance, future potential, and limitations of digital lending in India. 2024 selection and editorial matter, Satyajit Chakrabarti, Saikat Chakrabarti, Amit Kumar Bhandari, Dipak Saha and Rabin Mazumder. -
Role of emerging technologies in smart marketing and smart business for modern society
In the digital age, the fusion of emerging technologies with marketing and business strategies has become imperative for staying competitive and meeting evolving consumer demands. This chapter explores the pivotal role of emerging technologies in facilitating smart marketing and business practices in modern society. Through a comprehensive review of literature and case studies, this chapter examines the impact of technologies such as artificial intelligence (AI), machine learning (ML), big data analytics, internet of things (IoT), augmented reality (AR), and blockchain on reshaping marketing and business landscapes. The integration of AI and ML algorithms enables predictive analytics, personalized marketing, and enhanced customer experience through precise targeting and recommendation systems. Big data analytics empowers businesses to derive actionable insights from vast datasets, enabling data-driven decision-making and dynamic market segmentation. 2024, IGI Global. All rights reserved. -
Role of employee resource groups (ERGs) in fostering workforce diversity in information technology (IT) organizations after COVID-19
This chapter discovers how employee resource groups play an important role in fostering organizational diversity within information technology organizations. It examines the activities and practices to improve employee behaviour and also focuses on challenges faced by employees in spite of stress and mental health related issues during the COVID-19 pandemic. The data has been collected from secondary sources. The authors have used desk research and gray literature. The findings showcase increased employee engagement, improvements in diversity and inclusion, and an overall improvement in the inventive and creative skills of employees. It also helps the organization to brand itself better along with better recruitment strategies and practices. The key emphasis of the paper looks at the employees working within information technology organizations and how employee resource groups function to balance, motivate, and empower employees during COVID-19 Pandemic. 2023, IGI Global. All rights reserved. -
Role of formal restructuring in post-bankruptcy performance of companies: Case study from India
The resolution of distressed assets/NPAs is among the greatest challenges faced by banks in India. Corporate restructuring is a popular method of revival of distressed companies wherein changes are proposed across financial, operational & portfolio & managerial restructuring. This chapter delves into the intricate landscape of court driven corporate restructuring actions and post-bankruptcy performance, particularly within the context of India's dynamic market. Leveraging empirical evidence, the chapter explores the effects of restructuring actions on post-bankruptcy performance. This is also in the background of emerging use of AI tools and technologies in corporate distress resolution. By examining the actual performance data of companies undergoing insolvency resolution process (CIRP) under IBC in India, the chapter offers valuable insights into the efficacy of different restructuring actions and their implications for post-bankruptcy performance. This chapter provides an important contribution in understanding the complexities and effectiveness of bankruptcy resolution processes. 2024, IGI Global. All rights reserved. -
Role of ICT in economic empowerment of women by being an effective facilitator for women entrepreneurship
Information and communication technology (ICT) is steadily gaining dominance over other channels as a standalone medium for gaining and sharing knowledge, hybrid working environment, network strengthening and funding, business collaborations, new venture set-up, marketing and branding. ICT being most effectively featured with accessibility and omnipresence has been capable of empowering a lot of developing and talent-rich areas, and women empowerment is one among them. This chapter makes an attempt to bring out the efficient role played by ICT in enhancing the lifestyle of women. It proposes to provide a detailed description of how ICT has empowered women, and entrepreneurs, to set up and develop their business ventures giving them access to required resources and making them more competent through information and wider access to the market. This chapter presents its findings based on a systematic review of different case analyses by using secondary data. The findings will be also supported by the evidence and information gathered from credible reports, articles, and publications. 2023, IGI Global. -
Role of ICT in harnessing poverty reduction: An empirical study using an ARDL approach
The catalytic role of Information and Communication Technology (ICT) in poverty reduction has been examined in this chapter, in line with the United Nation's first Sustainable Development Goal (SDG-1). This study focuses on the impact of ICT variables such as individuals using the internet, population covered by a mobile-cellular network, mobile-cellular telephone subscriptions, and international bandwidth usage, on poverty alleviation using relevant data covering countries worldwide from 2010 to 2022. Employing the Auto Regressive Distributed Lag (ARDL) method, the study examines both short-run dynamics and long-run effects of ICT interventions towards achieving SDG-1. Results reveal a stronger relationship between internet usage and poverty reduction, alongside a counterintuitive finding showing a negative coefficient for international bandwidth usage. The findings of the study emphasize the pivotal role of internet usage and international bandwidth usage in poverty mitigation. Further, as evidenced by data findings, any immediate changes in the ICT indicators such as international bandwidth usage, population covered by a mobile network, mobile telephone subscriptions may not affect the poverty levels in the short term. The results of the study posit the policymakers to acknowledge the impact of internet usage in alleviating poverty among the world countries. The study reckons that improvement of internet infrastructure and enhancement of digital literacy initiatives via increased internet usage has the potential to harness poverty reduction. 2025 A. Jose Anand and Saravanan Krishnan. All rights reserved. -
Role of information and communication technologies in the sustainable clothing and textile industry
Information and communication technology (ICT) has an important role to play in every sector globally. These opportunities will derive from the ability of ICTs to open up parts of the supply chain (other than basic manufacturing and processing) in clothing and textile industry as well. ICT technology is used at various stages of the design process. Presently, it is rapidly changing the textile industry. Employee at- tendance (clocking in) to shipment dispatching are dependent on information technology. The garment industry is fully depended on IT or ERP. This chapter presents the latest trends of companies that have successfully used ICTs to move, for example, into higher-value activities such as design and logistics, or to access niche markets. The study aims to investigate the uses of information and communication technology in the clothing and textile industry and examine the recent trends of ICT usage in companies within the textile industry and identify the factors to be considered by companies in the textile industry before investing in ICT. 2023, IGI Global. All rights reserved. -
Role of international commercial arbitration in resolving WTO disputes
International organizations flourished with the fragrance of effective interactions between parties and reconciliatory measures promoting amicable dispute settlement. In this scenario International Commercial Arbitration comes to the rescue of international organizations resolving multilateral, bilateral, and investment disputes between the parties, promoting sustainable development. The rationale of the article is to promote the parties towards a system of dispute redressal that is opposite to adversarial form of dispute resolution and thereby promoting an arbitration-friendly economy. Arbitration is not considered to be a preferable dispute resolution and the article provides for importance of arbitration in research gap in various research papers by using doctrinal research, analyzing articles and statutes, and providing an answer to the research question "How to promote sustainable development through International Commercial arbitration" and "How to promote arbitration-friendly environment. " This article discusses WTO dispute resolution board's novel approach to promoting arbitration. 2024 Srinesh Thakur, Anvita Electronics, 16-11-762, Vijetha Golden Empire, Hyderabad. -
Role of Leadership and Management of Higher Education Institutions (HEI) in Digitalization
Throughout this chapter, several updated concepts, terms, and theoretical constructs are proposed about leadership and management of Higher Education Institutions (HEIs) with respect to the current trends and demands. The digital learning (DL) ecosystem and the transformational stages are discussed to elaborate the process of digital transformation at the HEIs. The advantages and benefits of digital education are integrated in the chapter with a view to better understand the challenges and opportunities brought forth by these imperatives. The chiseling role of leadership in the entire process is presented in the context of the digital ecosystem in order to meet the expectations of all the stakeholders. The New Education Policy (NEP) presents itself as a shaping force in accordance with prevailing standards and/or voluntary commitment by the respective HEIs in India. Further to the elaboration of the drivers of digitalization in the HEIs, the key takeaway is introduced as a holistic approach to leadership and management in such an ecosystem. 2024 Apple Academic Press, Inc. -
Role of medicinal plants against cancer
Cancer is a fatal disease where uncontrolled multiplication of cells occurs in the body. Radiation therapy, Chemotherapy, and medications are some of the procedures for treating cancer infections, but they are expensive, and the cure is ineffective. Usage of plants for the treatment of cancer can be one of the effective processes as the phytochemical compounds in these plants have the potential of alleviating various malignancies that includes cancer. The phytochemical compounds found in the plants have the medicinal properties like anti-inflammation, apoptotic, anti-oxidative to treat various disease include the cancer. The following chapter will be about the Indian medicinal plants such as Carica papaya, Glycyrrhiza glabra, Morinda citrifolia, Azadirachta indica, Psidium guajava, and Annona reticulate, in treating the cancer and its future perspectives. 2024, IGI Global.