Page 117 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.83, # 1, 2026, pp. 107-131

This article focused on the growth of Aritifical intelligence in the financial organizations
due to the multiple benefits including cost reduction, operational effieciency and increase
differentiation however the also emphazied the potential risk which financial organization
need to consider including biased data, algorithm errors, excessive dependence on
automated decision making which needs human oversight and risk management. Further,
Shanmuganathan (2020) received the second highest citation count (157). This paper
addresses on the recent AI applications including financial advisory services known as
robo advising through longitudinal case study. The findings revealed that how robo-
advisory platforms influence behavioral finance and investment decision-making
processes by reducing emotional and cognitive biases among retail investors. This study
further concluded that robo advisors provide financial literacy support and impartial
expert advice to investors.

3.6 Author's Co-Authorship Network Analysis
Figure 4 presents the author co-authorship network analysis. The articles that have atleast
5 citation’s count based on the Scopus database were taken into consideration for the
further analysis of the co-authorship author network. After applying the threshold limit, a
total of 339 authors are fit into this criterion. However, not all authors were
interconnected, and the largest connected network consisted of 18 authors. These authors
were further grouped into four distinct clusters based on their collaborative linkages.

Figure 4: Author's Co-Authorship Network Analysis

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