Role of Artificial Intelligence and Internet of Things in Promoting Banking and Financial Services During COVID-19: Pre and Post Effect

The covid-19 outbreak has triggered an economic crisis and severely affected the global economy. The revolution of AI and the Internet of things (IoT) is helping in reshaping the traditional financial sector by consolidating technology, finance, and economics. This paper highlights how the integration of Artificial intelligence (AI) in IoT is helping in promoting digital financial inclusion during the COVID-19. Through multiple real-life case studies, this article examines the successful implementation of AI and IoT in banking and financial institutions. The paper also explores the advantages and opportunities arising by the use of AI and IoT in the financial sector. A descriptive research approach has been followed to investigate the pre and post effect of COVID-19 and how it is leading towards economic efficiency.