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The Prioritization of Evaluation Indications for Artificial Intelligence (AI) Business Capabilities in the Financial Sector: Focusing on the Global AI Index: Focusing on the Global AI Index

Suho Ahn Primary Contact , Tae Yeon Oh , Yongkyu Kim Corresponding Author
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Abstract

The financial sector is actively considering the adoption of artificial intelligence (AI) in various areas. AI technologies are being introduced not only in key areas of finance, such as marketing, product development, credit evaluation, and risk management, but also in human resources and performance management. As a result, the need to understand business capabilities to achieve successful investment outcomes, including evaluating investment effects and strategies, is increasing. From this perspective, this study aims to identify the capabilities that should be prioritized when investing in AI businesses in the financial sector, based on the Global AI Index, which is a benchmark used for evaluating AI capabilities in 62 countries worldwide. By applying the Analytic Hierarchy Process (AHP) to a group of financial sector experts, the study selected priority rankings for each specific indicator and ultimately identified the priorities for capabilities across seven areas. This study is expected to contribute to minimizing errors and preventing risks when investing in AI within the financial industry.

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Keywords
Artificial Intelligent Financial IT Investment AHP Competency Evaluation index Global AI Index
Details
Section Articles
Issue Vol. 1 No. 1 (2024): Volume 1 Issue 1 (Inaugural Issue)
Published 2024-11-15
Pages 38-51
Authors
Suho Ahn Primary Contact

  • Mr. Ahn is a Ph.D. candidate in Applied Economics at the Graduate School of Hanyang University. From 2004 to 2013, he worked at Korea Telecom, followed by roles at Samsung Electronics from 2013 to 2020, where he contributed to various digital transformation initiatives in the Wireless Business Division and the Business Innovation Team. Subsequently, he served as a digital transformation consultant at IBM. Currently, he is engaged in consulting for digital transformation at Amazon AWS.
  • His research interest includes financial digital transformation, digital marketing, eCommerce, AI/Big Data, and Cloud technologies.
Tae Yeon Oh
aSSIST University

  • Prof. Oh earned a Ph.D. in Sports Management from Seoul National University. From 2018 to 2022, he served as a professor at the University of Mississippi. Currently, he is a professor in the AI/Big Data program at the Seoul School of Integrated Sciences & Technologies (aSSIST). His research interests include sports marketing, sports media, and big data analytics

 

Yongkyu Kim Corresponding Author
Hanyang University ERICA Campus

  • Prof. Kim earned a Ph.D. in Economics from Columbia University in 1992. From 1992 to 2001, he was a researcher at the Korea Information Society Development Institute (KISDI). He is currently a professor in the Department of Economics at Hanyang University ERICA Campus. His research focuses on regulatory policies in the information and communications industry.
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How to Cite
The Prioritization of Evaluation Indications for Artificial Intelligence (AI) Business Capabilities in the Financial Sector: Focusing on the Global AI Index: Focusing on the Global AI Index. (2024). AI Journal of BUsiness, 1(1), 38-51. https://jnl.ampla.page/aijb/article/view/112