In India there is a big difference in culture due to diversity across states, and it is the way the capitalist deal across in various states in the Republic of India even though the policy framework is made for the republic of India by the regulators. With the advent of technology like Blockchain and AI will we able to standardize a benchmark in Financial Inclusion or it will be a win-win situation for Capitalist only.
I'm not well aware of the current literature on Indian Microfinance, so I'm generalizing my ideas by projecting what's true for the other part of the world. Introducing AI into Indian microfinance will surely lead to better access and efficiency, especially for marginalized people who actually need finance. AI can enhance the precision in assessing the probability of an individual repaying a loan since it analyzes huge amounts of data to make sure that only the right people get the required help. But you know, all the success of microfinance in India hinges a lot on all this socio-political stuff that happens: the digital divide, apprehensions related to data privacy, and rules of the land. While AI can justifiably determine the most needy loaners, how it really works is, again, influenced by political and social setups that can either facilitate or destroy the functionality of such technological interventions for inclusive finance. (Chaitanya,SpringerOpen)
Quantitative research methodology can indeed be instrumental in exploring the integration of AI in microfinance and its potential to address challenges in India. Here's how it can help achieve actual results:
In summary, quantitative research methodology is well-suited to rigorously evaluate the integration of AI in microfinance in India, offering a clear pathway to understanding its impact and effectiveness in addressing sector-specific challenges.
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