A Perfect Triangle with: Artificial Intelligence, Supply Chain Management, and Financial Technology
DOI:
https://doi.org/10.14738/abr.611.5681Keywords:
Artificial Intelligence, Application of Artificial Intelligence, Supply Chain Management, FinTech, Financial Technology.Abstract
In recent years, artificial intelligence has seen increasing interest and popularity in the financial services and the other areas like supply chain management. Since the late 1970s, artificial intelligence has been developed to improve human decision-making processes and productivity in businesses, due to the ability to understand patterns and businesses phenomena, to search and analyze information and automating tasks repeatedly by humans.
According to Tungsten Network, that valuable time and money are wasted on trivial supply chain related-tasks that are conducted operationally by humans. So, a business could automate some tasks to reduce wasting time with the robotic process, and machine learning algorithms are being integrated into analytics and CRM platforms to uncover information on how to better serve customers. In addition to using artificial intelligence in the supply chain, its presence in financial technology can be noted, including advanced machine learning software and expert systems that are capable of learning and performing intelligent analysis, as well as the automation of some business processes in financial. Meanwhile, given the focus on supply chain finance, which includes solutions for suppliers, manufacturers, vendors, and customers that improve financial processes in the supply chain, the industry is moving toward a revolution and a massive transformation in this approach.
This paper gives an overview of artificial intelligence and the application areas of this technology and the current use in financial technology and supply chain management. This paper will also explore the benefits using Artificial Intelligence technologies in the Financial Technology and Supply Chain Management businesses.
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