New information technologies in the financial sector

Information technologies have profoundly reshaped the financial sector, enhancing customer experience, increasing operational efficiency, and creating opportunities for innovation. In order to provide security, transparency, and constant development for both customers and staff, this process has been having a growing influence on financial institutions and will continue to alter the financial system in the years to come. This study focuses on two technologies: blockchain and artificial intelligence. These two technologies are linked to several meanings, according to different writers from a large number of research and publications. However, there is a broad consensus that machines possess the ability to solve many problems, much like human beings. Overall, the aim of this study is to analyze the impact that the implementation of these technologies has had on the financial system—whether positive or negative—from the perspective of both consumers and employees. A mixed-method research technique was used for the empirical study, including two interviews and a questionnaire survey, in order to achieve the suggested goals. The results show that even though these technologies have pros and cons, they have been very important to the digital revolution in the financial industry. Nonetheless, there is still worry that robots may take over human jobs, endangering financial sector workers. With ongoing development, it is expected that humans and machines will be able to work together towards a positive evolution.