Inclusion of Technology 4.0 in the Financial Decision Making Process

Naman Mishra, Manju Dahiya

Abstract

The main aim of this study is to provide a comprehensive analysis of the ease that technology has provided in the decision-making section and the mobility it adds to the financial one. We see that technology has been the steppingstone in the progress of the society and how the various algorithms has eased the decision making process, and the accuracy to which they provide the answers to various questions. The various other technologies and their use cases in the financial sector is also explored and we see their impact in terms of efficiency and load distribution in a workplace. Being able to successfully conclude our research we see that the penetration of technology in every field has been massive and as such its contribution in easing the economics processes is exponential and massive. The positive impact that technology has on the decision-making process by comparing its accuracy with the known parameters, shows how much efficient they prove to be in real time. In this study we used our primary data and used prediction techniques to successfully show the efficiency of these algorithms in the financial sector, the high accuracy of these algorithms increase trustworthiness by successfully predicting the GDP growth rate of the country as well as the stock price prediction of some stocks. The required data is used from the Kaggle database, to support transparency and accountability. This research would help the financial community to accept the support of technology in the crucial decision-making process allowing them to be flexible in real time and make inclusive decisions. The presence of technologies like Cloud computing, AI, blockchain, big data analytics and many more showcase the different use cases in the financial sector and strengthen the trustworthiness of these technologies. The study is significant because it highlights the importance of technology in the field of financial decision making. By showing the different use case of technologies, we show the efficiency that the inclusion of technology would bring into the process and make it more streamlined, the trust factor towards technology is also boosted in the masses which fears giving away monetary decisions to others.