ARTIFICIAL INTELLIGENCE AS A DRIVER OF INNOVATION IN MODERN FINANCIAL SYSTEMS

Marijana Joksimović; Sanel Mehmedi; Dragana Trifunović

doi:10.59864/Oditor12602MJ

Authors

Marijana Joksimović Alfa BK University, Faculty of Finance, Banking and Audit, Belgrade, Serbia Author https://orcid.org/0000-0002-5939-5137
Sanel Mehmedi Academy of Vocational Studies Kosovsko-Metohijska, Department Peć-Leposavić, Serbia Author https://orcid.org/0009-0006-0129-7995
Dragana Trifunović Faculty of Social Sciences, University of Business Academy Novi Sad, Serbia Author https://orcid.org/0000-0002-8051-1454

DOI:

https://doi.org/10.59864/Oditor12602MJ

Keywords:

artificial intelligence, financial systems, AI adoption, digital innovation, risk management

Abstract

Artificial intelligence (AI) has become an important driver of innovation and digital transformation in modern financial systems. This study empirically examines patterns of AI adoption across key banking functions and geographical regions using descriptive and comparative analysis of secondary quantitative data obtained from recent industry reports and market analyses. The findings indicate that AI adoption is highest in fraud detection (60–65%) and risk management (approximately 60%), while adoption in credit scoring remains comparatively lower (45–50%). The regional analysis reveals substantial disparities, with North America recording the highest adoption rate (65%) and Africa and the Middle East the lowest (40%). The results also highlight increasing investment and market growth, confirming the strategic importance of AI for financial innovation. The study contributes to understanding current patterns of AI-driven transformation while emphasizing the need for responsible implementation, regulatory adaptation, data protection, and transparent AI governance.

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