IDEAS home Printed from https://ideas.repec.org/a/eee/jrpoli/v80y2023ics0301420722006936.html
   My bibliography  Save this article

Artificial intelligence and resource optimization: A study of Fintech start-ups

Author

Listed:
  • Almansour, Mohammed

Abstract

FinTechs have transformed financial service delivery by leveraging technology to execute many traditional banking functions in a superior manner. Within technology usage, the adoption of disruptive technologies such as Artificial Intelligence (AI) has been the most discussed in the FinTech space. However, the entire discussion has been either from the perspective of the use of data-driven driven algorithms, the benefits of AI, or the effect of AI on the labor market. Very few studies have focussed on examining how implementing disruptive technologies such as AI can affect FinTech start-ups’ internal organizational resources and external natural resources including minerals and the allied industries. The present study addresses this gap by collecting qualitative data from 25 employees of FinTech start-ups in the United Kingdom to understand their impact on resources, particularly the natural ones including minerals. The collected data was analyzed to uncover how the implementation of disruptive digital technologies such as AI in day-to-day operations and digital marketing of FinTech start-ups impacted the internal organizational resources, including employees. The study also sought to uncover the impact of the same on the external resources – customers, and the environment including mineral resources and the allied industry. The study's findings provide valuable insights into how FinTech start-ups can gain from AI implementation in their operations, digital marketing, and resource use optimization.

Suggested Citation

  • Almansour, Mohammed, 2023. "Artificial intelligence and resource optimization: A study of Fintech start-ups," Resources Policy, Elsevier, vol. 80(C).
    • Handle: RePEc:eee:jrpoli:v:80:y:2023:i:c:s0301420722006936
    DOI: 10.1016/j.resourpol.2022.103250
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301420722006936
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.resourpol.2022.103250?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yang, Yuxue & Su, Xiang & Yao, Shuangliang, 2021. "Nexus between green finance, fintech, and high-quality economic development: Empirical evidence from China," Resources Policy, Elsevier, vol. 74(C).
    2. Ramona Rupeika-Apoga & Stefan Wendt, 2021. "FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead," Risks, MDPI, vol. 9(10), pages 1-23, October.
    3. Muthukannan, Priyadharshini & Tan, Barney & Chian Tan, Felix Ter & Leong, Carmen, 2021. "Novel mechanisms of scalability of financial services in an emerging market context: Insights from Indonesian Fintech Ecosystem," International Journal of Information Management, Elsevier, vol. 61(C).
    4. Svetlana Saksonova & Irina Kuzmina-Merlino, 2017. "Fintech as Financial Innovation - The Possibilities and Problems of Implementation," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 961-973.
    5. Maroufkhani, Parisa & Desouza, Kevin C. & Perrons, Robert K. & Iranmanesh, Mohammad, 2022. "Digital transformation in the resource and energy sectors: A systematic review," Resources Policy, Elsevier, vol. 76(C).
    6. Wesley L. Harris & Jarunee Wonglimpiyarat, 2020. "Dynamics of crowdfunding and FinTech challenges," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 23(4), pages 501-514.
    7. Gale, William G. & Holmes, Sarah E. & John, David C., 2020. "Retirement plans for contingent workers: issues and options," Journal of Pension Economics and Finance, Cambridge University Press, vol. 19(2), pages 185-197, April.
    8. Usama Awan, 2019. "Impact of social supply chain practices on social sustainability performance in manufacturing firms," International Journal of Innovation and Sustainable Development, Inderscience Enterprises Ltd, vol. 13(2), pages 198-219.
    9. Henner Gimpel & Daniel Rau & Maximilian Röglinger, 2018. "Understanding FinTech start-ups – a taxonomy of consumer-oriented service offerings," Electronic Markets, Springer;IIM University of St. Gallen, vol. 28(3), pages 245-264, August.
    10. Caron, Joanie & Asselin, Hugo & Beaudoin, Jean-Michel, 2020. "Indigenous employees’ perceptions of the strategies used by mining employers to promote their recruitment, integration and retention," Resources Policy, Elsevier, vol. 68(C).
    11. Bag, Surajit & Yadav, Gunjan & Wood, Lincoln C. & Dhamija, Pavitra & Joshi, Sudhanshu, 2020. "Industry 4.0 and the circular economy: Resource melioration in logistics," Resources Policy, Elsevier, vol. 68(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Khan, Imran & Khan, Inayat & Ikram, Rana Muhammad Adnan & Ali, Mohammad Ajmal, 2024. "Integrating FinTech with Industry 4.0 for sustainable mineral resource management: Exploring the interplay of technology, regulation, and economic dynamics," Resources Policy, Elsevier, vol. 92(C).
    2. Wang, Linhui & Cao, Zhanglu & Dong, Zhiqing, 2023. "Are artificial intelligence dividends evenly distributed between profits and wages? Evidence from the private enterprise survey data in China," Structural Change and Economic Dynamics, Elsevier, vol. 66(C), pages 342-356.
    3. Sachan, Swati & Almaghrabi, Fatima & Yang, Jian-Bo & Xu, Dong-Ling, 2024. "Human-AI collaboration to mitigate decision noise in financial underwriting: A study on FinTech innovation in a lending firm," International Review of Financial Analysis, Elsevier, vol. 93(C).
    4. Yadav, Sanjeev & Samadhiya, Ashutosh & Kumar, Anil & Luthra, Sunil & Pandey, Krishan Kumar, 2024. "Nexus between fintech, green finance and natural resources management: Transition of BRICS nation industries from resource curse to resource blessed sustainable economies," Resources Policy, Elsevier, vol. 91(C).
    5. Huang, Lihua, 2024. "Fintech inclusion in natural resource utilization, trade openness, resource productivity, recycling and minimizing waste generation: Does technology really drive economies toward green growth?," Resources Policy, Elsevier, vol. 90(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fathi Rufaidah & Tuti Karyani & Eliana Wulandari & Iwan Setiawan, 2023. "A Review of the Implementation of Financial Technology (Fintech) in the Indonesian Agricultural Sector: Issues, Access, and Challenges," IJFS, MDPI, vol. 11(3), pages 1-14, September.
    2. Nalluri, Venkateswarlu & Chen, Long-Sheng, 2024. "Modelling the FinTech adoption barriers in the context of emerging economies—An integrated Fuzzy hybrid approach," Technological Forecasting and Social Change, Elsevier, vol. 199(C).
    3. Su, Yifan & Xu, Guanghua, 2022. "Low-carbon transformation of natural resource industry in China: Determinants and policy implications to achieve COP26 targets," Resources Policy, Elsevier, vol. 79(C).
    4. Rui Ai & Yuhang Zheng & Serhat Yüksel & Hasan Dinçer, 2023. "Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-28, December.
    5. Charfeddine, Lanouar & Umlai, Mohamed, 2023. "ICT sector, digitization and environmental sustainability: A systematic review of the literature from 2000 to 2022," Renewable and Sustainable Energy Reviews, Elsevier, vol. 184(C).
    6. Thorsten Schoormann & Julia Schweihoff & Ilka Jussen & Frederik Möller, 2023. "Classification tools for business models: Status quo, comparison, and agenda," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-36, December.
    7. Qadri, Hussain Mohi ud Din & Ali, Hassnian & Abideen, Zain ul & Jafar, Ahmad, 2024. "Mapping the Evolution of Green Finance Research and Development in Emerging Green Economies," Resources Policy, Elsevier, vol. 91(C).
    8. Mustafa Raza Rabbani & Shahnawaz Khan & Eleftherios I. Thalassinos, 2020. "FinTech, Blockchain and Islamic Finance: An Extensive Literature Review," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 65-86.
    9. Zhang, Dongyang, 2023. "Does green finance really inhibit extreme hypocritical ESG risk? A greenwashing perspective exploration," Energy Economics, Elsevier, vol. 121(C).
    10. Shaorui Xu & Yang Chen & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "Green Technology Innovation and High-Quality Economic Development: Spatial Spillover Effect," Prague Economic Papers, Prague University of Economics and Business, vol. 2023(3), pages 292-319.
    11. Fan, Chenguang & Bae, Seongho & Liu, Yu, 2024. "Can FinTech transform corporate liquidity? Evidence from China," Innovation and Green Development, Elsevier, vol. 3(2).
    12. Alaassar, Ahmad & Mention, Anne-Laure & Aas, Tor Helge, 2021. "Exploring a new incubation model for FinTechs: Regulatory sandboxes," Technovation, Elsevier, vol. 103(C).
    13. Georgy B. Kleiner & Maksim A. Rybachuk & Venera A. Karpinskaya, 2020. "Development of ecosystems in the financial sector of Russia," Upravlenets, Ural State University of Economics, vol. 11(4), pages 2-15, September.
    14. Ning, Jiajun & Xiong, Lixin, 2024. "Analysis of the dynamic evolution process of the digital transformation of renewable energy enterprises based on the cooperative and evolutionary game model," Energy, Elsevier, vol. 288(C).
    15. Blesia, Jhon Urasti & Dixon, Keith & Lord, Beverley Rae, 2023. "Indigenous experiences and perspectives on a mining corporation's community relations and development activities," Resources Policy, Elsevier, vol. 80(C).
    16. S. G. Ponnambalam & Bathrinath Sankaranarayanan & Koppiahraj Karuppiah & Shakthi Thinakaran & Pranesh Chandravelu & Hon Loong Lam, 2023. "Analysing the Barriers Involved in Recycling the Textile Waste in India Using Fuzzy DEMATEL," Sustainability, MDPI, vol. 15(11), pages 1-19, May.
    17. Zhuoxi Yu & Yu Wu & Zhichuan Zhu, 2023. "Fiscal Decentralization, Environmental Regulation and High-Quality Economic Development," Sustainability, MDPI, vol. 15(10), pages 1-20, May.
    18. Zhang, Lixia & Sun, Huaping & Pu, Tianlong & Sun, Hui & Chen, Zhenling, 2024. "Do green finance and hi-tech innovation facilitate sustainable development? Evidence from the Yangtze River Economic Belt," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1430-1442.
    19. Hasnan Baber, 2020. "FinTech, Crowdfunding and Customer Retention in Islamic Banks," Vision, , vol. 24(3), pages 260-268, September.
    20. Husam Rjoub & Tomiwa Sunday Adebayo & Dervis Kirikkaleli, 2023. "Blockchain technology-based FinTech banking sector involvement using adaptive neuro-fuzzy-based K-nearest neighbors algorithm," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-23, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jrpoli:v:80:y:2023:i:c:s0301420722006936. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/30467 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.