Summary of Enhancing Financial Inclusion and Regulatory Challenges: a Critical Analysis Of Digital Banks and Alternative Lenders Through Digital Platforms, Machine Learning, and Large Language Models Integration, by Luke Lee
Enhancing Financial Inclusion and Regulatory Challenges: A Critical Analysis of Digital Banks and Alternative Lenders Through Digital Platforms, Machine Learning, and Large Language Models Integration
by Luke Lee
First submitted to arxiv on: 18 Apr 2024
Categories
- Main: Artificial Intelligence (cs.AI)
- Secondary: None
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| Summary difficulty | Written by | Summary |
|---|---|---|
| High | Paper authors | High Difficulty Summary Read the original abstract here |
| Medium | GrooveSquid.com (original content) | Medium Difficulty Summary This paper investigates how digital banks and alternative lenders impact financial inclusion, exploring the intersection of machine learning (ML), Large Language Models (LLMs), and regulatory challenges. The study reveals key mechanisms for enhancing accessibility and mitigating traditional barriers through operational frameworks and technological infrastructures. Furthermore, it addresses significant regulatory concerns including data privacy, algorithmic bias, financial stability, and consumer protection. Employing a mixed-methods approach, the research combines quantitative financial data analysis with qualitative insights from industry experts to elucidate the complexities of leveraging digital technology for financial inclusivity. |
| Low | GrooveSquid.com (original content) | Low Difficulty Summary This paper looks at how digital banks and alternative lenders can help people have better access to money and services. It talks about how machine learning (ML) and big language models (LLMs) can be used to make things like loans and bank accounts more accessible. The study also explores some of the challenges that come with using these new technologies, like making sure people’s data is private and making sure that the technology doesn’t discriminate against certain groups. Overall, the paper shows how digital technology can help create a more inclusive financial system. |
Keywords
» Artificial intelligence » Machine learning
