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- Title
Examining the research taxonomy of artificial intelligence, deep learning & machine learning in the financial sphere—a bibliometric analysis.
- Authors
Biju, Ajitha Kumari Vijayappan Nair; Thomas, Ann Susan; Thasneem, J
- Abstract
This paper surveys the extant literature on machine learning, artificial intelligence, and deep learning mechanisms within the financial sphere using bibliometric methods. We considered the conceptual and social structure of publications in ML, AI, and DL in finance to better understand the research's status, development, and growth. The study finds an upsurge in publication trends within this research arena, with a bit of concentration around the financial domain. The institutional contributions from USA and China constitute much of the literature on applying ML and AI in finance. Our analysis identifies emerging research themes, with the most futuristic being ESG scoring using ML and AI. However, we find there is a lack of empirical academic research with a critical appraisal of these algorithmic-based advanced automated financial technologies. There are severe pitfalls in the prediction process using ML and AI due to algorithmic biases, mostly in the areas of insurance, credit scoring and mortgages. Thus, this study indicates the next evolution of ML and DL archetypes in the economic sphere and the need for a strategic turnaround in academics regarding these forces of disruption and innovation that are shaping the future of finance.
- Subjects
CHINA; DEEP learning; MACHINE learning; ARTIFICIAL intelligence; BIBLIOMETRICS; ALGORITHMIC bias; CONCEPTUAL structures
- Publication
Quality & Quantity, 2024, Vol 58, Issue 1, p849
- ISSN
0033-5177
- Publication type
Article
- DOI
10.1007/s11135-023-01673-0