Integrating AI, Blockchain, and Cloud Computing for Risk Management
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Artificial Intelligence (AI), Blockchain, and Cloud Computing (CC) are key technologies to improve financial automation and risk management of developing countries in particular. The purpose of this research is to explore the combined impact of AI, Blockchain, and CC on financial automation and how it, in turn, affects improved risk management in financial institutions in Oman. This study adopted a quantitative method by conducting questionnaires with 201 financial and IT experts in banks and fintech firms in Oman using convenience and snowball sampling methods. The respondents were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) based on Technology-Organization-Environment (TOE) and Innovation Diffusion Theory (IDT). Results indicate that Blockchain (β = 0.561) and AI (β = 0.264) have a strong impact on financial automation, with a moderate positive influence observed for CC (β = 0.173). Financial automation has a significant positive effect on improved risk management (β = 0.827, R² = 0.81) and regulatory compliance, market responsiveness, and technology access. This research is novel in its integrated empirical model, which brings together three frontier technologies in one model and empirically validates their impact on financial performance and risk management in a developing country, offering practical insights for policymakers and financial practitioners.
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