Artificial Intelligence, Fintech, and Financial Inclusion in African Digital Space

摘要

The importance of the economy of a nation cannot be over-emphasized, as its technological progress is largely dependent on economic stability. The adoption of 21st-century technology, especially in financial technology, has strengthened the economic sector consisting of artificial intelligence (AI) applications and innovations such as blockchain, virtual cards, mobile payments, smart contracts, and robotic processes. These AI innovations have reshaped commerce by greatly transforming financial transactions among businesses, consumers, and individuals. The African digital sphere is enriched with fintech-driven economic activities enabling financial inclusion, making products and services available and affordable to everyone. Notwithstanding, the presence of cybercriminal activities has become a serious threat to the growth of fintech and financial inclusion across Africa. With a qualitative approach, this chapter examines the extent of economic progress in the adoption of fintech and financial inclusion in Africa and their impact on the continent alongside pragmatic means of mitigating cyber threats. This chapter, therefore, positions AI as a facilitator and problem-solving tool in advancing fintech and financial inclusion within the African digital sphere.