Leveraging Digital Technologies to Bridge the Digital Divide and Advance Financial Inclusion

Abstract

The aim of this study is to analyze how the digital divide can be shortened among various socio-economic conditions combining with the help received from Artificial Intelligence, cloud based financial technologies which further help improve efficiency and availability of these financial systems. Basing on a systematic and a thorough evaluation of prior studies and knowledge on the topic, various key research voids were identified which included the limited amount of empirical evidence and the lack of cross regional evidence as well as the algorithmic bias which was not accounted for. To find out more, this study implemented a methodological framework which involved data collection through a sample size of 110 respondents, each of them having chosen through purposive sampling in order to obtain the best possible results through data analysis followed by performance comparisons and validation techniques. The internal consistency seen was strong with the Cronbach’s alpha values being of 0.872, 0.907 and 0.905 across the different constructs, validating the measurement model. This showcases that a massive role is being played by the inclusive digital technologies and frameworks in order to promote sustainable financial inclusion. However, there are numerous obstacles such as the significant differences in infrastructure of different places and cultural barriers which restrain equitable access to these financial services. This research contributes a framework that combines technology and governance and presenting insights for policymakers, helping them develop financial systems in regions which are still developing to be secure, transparent and most importantly inclusive for all.