Abstract Book of the 13th International Conference on Opportunities and Challenges in Management, Economics and Accounting
Year: 2025
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The Role of AI-driven Digitalisation in Promoting Sustainable Financial Decision Making in Human-Technology Ecosystem
Asso. Prof. Andris Fomins, Prof. Inese Mavļutova
ABSTRACT:
The use of AI-driven technological solutions is promoting considerable changes in the Human-Tech ecosystem. The mutual influence is becoming increasingly close as both the users can influence AI technology through usage of patterns and further decision-making, and the AI technology impacts human behaviour, perception, and social interaction. Artificial intelligence is driving significant improvements in businesses and society by offering new approaches to problem-solving and fostering innovation. It can support the shift to more sustainable financial behaviour in three main dimensions: more informed and justified decision-making, promoting long-term thinking in financial planning, and making more appropriate financial services choices according to personal financial situation. Mindfulness in using digital tools stimulates thoughtful financial decision-making; however, over-reliance on AI-driven decision-making tools results in a loss of human judgment. The study aims to assess the role of artificial intelligence in making appropriate financial decisions and increasing individual financial sustainability. The authors have identified the development trends on AI-driven technology tools used for daily finance management thus emphasizing both the promotion of scientific excellence and addressing the needs of individuals to increase their well-being and resilience using AI-driven technologies. The results of the study indicate the significant potential of artificial intelligence in promoting thoughtful financial planning in various groups of society, especially socially vulnerable groups, while at the same time pointing out the risks caused by overreliance on machine learning models.
Keywords: AI technology, financial behavior, financial inclusion, Human-Tech ecosystem, personal finance