“Framework for Banking & Financial Sector Through Artificial Intelligence and Blockchain Technology.” (In respect to Middle East)

Abstract

Banking sector has always been on the forefront when it comes to pursuing or introducing modern technology and operating framework. With embracement of new technology advancement, AI and Blockchainplays a huge role in technology revolution worldwide. The pace at which banking sector and financial institutions are investing in artificial intelligence and blockchain technology proceeds to attain momentum. Experts comment on, that banks will be investing hugely in Artificial intelligence (AI) as well as blockchain Technology, which will help them to boost their profit through human-machine collaboration appliances, reduces the risk of fraud and human errors. With the help of application of artificial intelligence (AI), blockchain Technology and Machine Learning (ML), banking sector will be able to enlighten on the two major aspects i.e., data access and data privacy and these two aspects will be of prime importance in reference to regulation of cyber frauds, hacking, data breaching, phishing, Malware based attack, etc. This study will analyze on the implementation of Artificial intelligence and blockchain Technology in banking sector of Middle East. As this region is currently focusing on Expo 2020 making “connecting minds, creating future” as a goal, Artificial Intelligence (AI) and blockchain Technology will play significant role in making it successful.