Artificial Intelligence Observatory for Monitoring Financial Technologies (FinTech) in Iran

Abstract

Objectives: Significant models leading to artificial intelligence (AI) are considered a milestone. Today, AI has become a widespread technology and an essential part of modern life. On the other hand, observatories have always played a crucial role in policymaking and planning processes. Prior Work: The Organization for Economic Cooperation and Development (OECD), one of the most influential international economic decision-making organizations, has established a specialized AI observatory to monitor and formulate policies in response to the major developments occurring in the field of AI. Approach: This article, using a qualitative research strategy, a library-based approach, and an analytical and systematic review method, proposes the creation of an AI observatory to monitor financial technologies (FinTech) in Iran by 2025. Implications: The results indicate that AI can be applied in areas such as digital payments (e-commerce, mobile payments, and digital remittances), digital capital raising (crowdfunding, peer-to-peer lending, and consumer market lending), digital investment (Robo-advisors and Neo-brokers), Neobanking, and digital assets (cryptocurrencies, non-fungible tokens, and decentralized finance). Value: The upward trend of published documents worldwide and in Iran regarding the application of AI in the economy and financial services, particularly FinTech, highlights the significant importance of this field both globally and in Iran.