Enhanced Academic Exploration of Blockchain and AI in Financial Services

Business School, Singapore University of Social Sciences, Clementi, Singapore
* Corresponding author. Email: Jzshi002@suss.edu.sg (J.S.)
Manuscript received September 16, 2024; accepted December 12, 2024; published March 27, 2025.

Abstract— The application of blockchain technology and Artificial Intelligence (AI) in financial services is rapidly advancing, driving innovations in Financial Technology (FinTech). This paper reviews the major research advancements of blockchain and AI in the financial sector, explores their benefits, applications, and challenges. Despite the significant advantages of blockchain in enhancing transaction transparency and security, it faces issues related to scalability, regulation, and interoperability. AI excels in risk management, fraud detection, and customer service, but concerns about potential biases in algorithms and ethical issues need to be addressed. The paper also discusses the combined applications of blockchain and AI and suggests future research directions and improvements. The research indicates that although these technologies show great potential in financial services, their widespread application still requires overcoming numerous technical and regulatory barriers.

Keywords—blockchain technology, artificial intelligence, financial services, fintech, smart contracts, risk management, data security, regulatory challenges

Cite: Jianzheng Shi and Yue Wang, "Enhanced Academic Exploration of Blockchain and AI in Financial Services," International Journal of Blockchain Technologies and Applications vol. 3, no. 1, pp. 24-28, 2025.

Copyright © 2025 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0)