Prelims

Half Title Page

Contemporary Studies of Risks in Emerging Technology

Series Page

EMERALD STUDIES IN FINANCE, INSURANCE, AND RISK MANAGEMENT

Series editor: Simon Grima

Books in this series collect quantitative and qualitative studies in areas relating to finance, insurance and risk management. Subjects of interest may include banking, accounting, auditing, compliance, sustainability, behaviour, management and business economics.

In the disruption of political upheaval, new technologies, climate change and new regulations, it is more important than ever to understand risk in the financial industry. Providing high-quality academic research, this book series provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale.

Previously published:

• Uncertainty and Challenges in Contemporary Economic Behaviour

  Ercan Özen and Simon Grima

• New Challenges for Future Sustainability and Wellbeing

  Ercan Özen, Simon Grima and Rebecca Dalli Gonzi

• Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems: Decision and Control Allocations Within New Domains of Risk

  Simon Grima, Ercan Özen and Rebecca Dalli Gonzi

• Public Sector Leadership in Assessing and Addressing Risk

  Peter C. Young, Simon Grima and Rebecca Dalli Gonzi

• Big Data Analytics in the Insurance Market

  Kiran Sood, B. Balamurugan, Simon Grima and Pierpaolo Marano

• Big Data: A Game Changer for Insurance Industry

  Kiran Sood, Rajesh Kumar Dhanaraj, B. Balamurugan, Simon Grima and R. Uma Maheshwari

• The Adoption and Effect of Artificial Intelligence on Human Resources Management

  Pallavi Tyagi, Naveen Chilamkurti, Simon Grima, Kiran Sood and B. Balamurugan

Title Page

Contemporary Studies of Risks in Emerging Technology, Part B

EDITED BY

SIMON GRIMA

University of Malta, Malta

KIRAN SOOD

Chitkara Business School, Chitkara University, Punjab, India

AND

ERCAN ÖZEN

University of Uşak, Turkey

United Kingdom – North America – Japan – India – Malaysia – China

Copyright Page

Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2023

Editorial matter and selection © 2023 Simon Grima, Kiran Sood and Ercan Özen.

Individual chapters © 2023 The authors.

Published under an exclusive licence by Emerald Publishing Limited.

Reprints and permissions service

Contact: permissions@emeraldinsight.com

No part of this book may be reproduced, stored in a retrieval system, transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without either the prior written permission of the publisher or a licence permitting restricted copying issued in the UK by The Copyright Licensing Agency and in the USA by The Copyright Clearance Center. Any opinions expressed in the chapters are those of the authors. Whilst Emerald makes every effort to ensure the quality and accuracy of its content, Emerald makes no representation implied or otherwise, as to the chapters’ suitability and application and disclaims any warranties, express or implied, to their use.

British Library Cataloguing in Publication Data

A catalogue record for this book is available from the British Library

ISBN: 978-1-80455-567-5 (Print)

ISBN: 978-1-80455-566-8 (Online)

ISBN: 978-1-80455-568-2 (Epub)

Contents

About the Editors

Simon Grima is the the Deputy Dean of the Faculty of Economics, Management and Accountancy, an Associate Professor and the Head of the Department of Insurance and Risk Management which he set up in 2015 and started and coordinates the MA and MSc Insurance and Risk Management degrees together with the B.Com in Insurance at the University of Malta. He is also a Professor at the University of Latvia, Faculty of Business, Management and Economics and a Visiting Professor at UNICATT Milan. He served as the President of the Malta Association of Risk Management (MARM) between 2013 and 2015 and the President of the Malta Association of Compliance Officers (MACO) between 2016 and 2018. Moreover, he is the Chairman of the Scientific Education Committee of the Public Risk Management Organization (PRIMO) and the Federation of European Risk Managers (FERMA). His research focus is on Governance, Regulations, and Internal Controls. He has over 30 years of experience varied between financial services, academia, and public entities. He has acted as a Co-chair and is a Member of the scientific program committee on some international conferences and is a chief editor, editor and review editor of some journals and book series. He has been awarded an Outstanding Reviewer for the Journal of Financial Regulation and Compliance in the 2017 and 2022 Emerald Literati Awards. Moreover, he acts as an Independent Director for Financial Services Firms, Sits on Risk, Compliance, Procurement, Investment and Audit Committees and carries out duties as a Compliance Officer, Internal Auditor, and Risk Manager.

Ercan Özen received his BSc in Public Finance (1994), MSc in Business-Accounting (1997), PhD in Business Finance (2008) from the University of AfyonKocatepe. He is currently an Associate Professor of Finance with the Department of Banking and Finance, Faculty of Applied Sciences, University of Uşak, Turkey. His current research interests include different aspects of Finance. He has (co-) authored 10 book chapters and more than 50 papers, more than 40 conferences participation, member in International Program Committee of 3 conferences and workshops. He is the Chair of International Applied Social Sciences Congress. He is a Certificated Accountant, Member of Agean Finance Association and Member of TEMA (Turkey Combating Soil Erosion, for Reforestation and the Protection of Natural Resources Foundation).

Kiran Sood is a Professor at Chitkara Business School, Chitkara University, Punjab, India. She received her UG and PG degrees in Commerce from Panjab University, respectively, in 2002 and 2004. She earned her Master of Philosophy degree in 2008 and Doctor of Philosophy in Commerce with a concentration on Product Portfolio Performance of General Insurance Companies in 2017 from Punjabi University, Patiala, India. Before joining Chitkara University in July 2019, she had served four organisations with a total experience of 18 years. She has published various articles in various journals and presented papers at various international conferences. She serves as an Editor of the refereed journal, particularly the IJBST International Journal of BioSciences and Technology and International Journal of Research Culture Society and The Journal of Corporate Governance, Insurance, and Risk Management (JCGIRM). 2021. Her research mainly focusses on regulations, marketing and finance in insurance, insurance management, economics and management of innovation in insurance. She has edited more than 10 books with various international publishers such as Emerald, CRC, Taylors & Francis, AAP, WILEY scrivener, IET, Rivers Publishers, and IEEE.

About the Contributors

Şafak Ağdeniz is an Assistant Professor in the Faculty of Economic and Administrative Sciences, Department of Business Administration at Eskişehir Osmangazi University, Turkey. She graduated in Business Administration from Cukurova University, Department of Business Administration in 2005. She received her Master’s degree in Business Administration from Cukurova University in 2007 and PhD in Business Administration from Eskisehir Osmangazi University. Prior to her academic career, she held various positions in the bank, public and private sectors. She is the author of numerous peer-reviewed articles and book chapters on the subject of cost and management accounting, internal auditing, integrated reporting, machine learning usage in accounting and internal auditing.

Aradhna Research Scholar Department of Management Invertis University Bareilly, a postgraduate in M.Com from Mahatma Jyotiba Phule Rohilkhand University (MJPRU) and double postgraduate MBA from Chaudhary Devi Lal University, Sirsa. She has published research papers in reputed and referred national and international journals related to Management, Finance and Marketing. She has been associated with research for the last three years. She has published papers in national and international journals.

Swati Bankar has completed her postgraduation in Human Resource Management and has completed her PhD (Doctorate) in HR with Six Sigma. She is currently working as Associate Head of School at Dr. Vishwanath Karad MIT World Peace University. She has 15 years of teaching experience and two years of industry experience. She is a Certified Trainer of Entrepreneurship. She has more the 34 national and international original research articles, three patents and one book to her credit. Her area of research interest is HR Analytics, Employee Engagement, Performance Management and CSR and Sustainability.

Rohit Bansal is working as an Associate Professor in Department of Management Studies in Vaish College of Engineering, Rohtak. With a rich experience of 14 years, he has achieved growth through robust and proactive academic initiatives. He has authored and edited 15 books with renowned national and international publishers. In addition, he has published 110 research papers and chapters in journals of repute as well as edited books. He has also presented papers in 40 conferences and seminars. His area of interest includes organisational behaviour, marketing management, human resource management, services marketing and customer engagement. He is on the Editorial Advisory Board as a member in 110 national and international peer-reviewed journals. He has served as Member of Advisory Committee in many international conferences. He has acted as Session Chair in many international conferences.

Maria Boaler is working as Assistant Professor in REVA University, and she has been pursuing her PhD in Marketing from VTU University. Her area of study is Interactive Marketing. She has 16 years of academic experience in teaching in various B-Schools and 2 years of Corporate Experience. She has academic expertise in General Management, Marketing, Retail and Research Methodology. She has presented papers in National and International conferences and has published papers in journals of good repute. One of her paper is published in B-Category journal. She was in charge of placement cell in her previous college. Currently she is organizing academic workshops for students and faculty at her university.

Lochan Chavan is currently working as an Assistant Professor at Smt. Kamala Mehta V.W.A. College of Commerce, Versova, Mumbai, India, and holds Master’s degree in Commerce and is also a Law Graduate. She is currently pursuing her PhD in Business Management from Chitkara University, Punjab, India. She has four years of teaching experience.

Andreea Claudia Crucean is a PhD student in the field of Accounting and Audit at Doctoral School of Economics and Business Administration, West University of Timisoara. Her main area of research is focused on the quality and integrity of the services that an auditor provides for the companies. He has published articles in journals indexed in international databases in the field of financial audit, with the objective of studying the impact of COVID-19 on the activity of auditors and the factors that can influence the quality of reports issued by auditors.

Nataliia Fedirko (b. 30 September 1978) received her BSc in Administrative Management (2000), MSc in Public Administration of the Economy (2001), PhD in Organization of Management, Planning and Regulation of the Economy (2006), title of Associate Professor (2015) from Kyiv National Economic University named after Vadym Hetman. Her current research interests include public administration, digitalisation of economic relations, analysis of macroeconomic policy, public sector of the economy, etc. She has (co-)authored nine book chapters, four text-book chapters and more than 20 papers, more than 30 conferences participation. She has participated in more than 10 training programmes.

Oleksandr Fedirko (b. 12 May 1979) received his BSc in International Economics (2000), MSc in Managing International Business (2001), PhD in World Economy and International Economic Relations (2005), title of Associate Professor (2012) and Doctor of Economic Sciences (2018) from Kyiv National Economic University named after Vadym Hetman. His current research interests include international competitiveness, regional and local innovation development, European integration, etc. He is the Author of one monograph and has co-authored eight book chapters, 10 text-book chapters, more than 30 papers and more than 50 conferences participation. Also, the author has implemented a number of Erasmus+ projects.

Gagandeep is currently working as Assistant Professor of Marketing in DAV University’s Commerce & Business Management (CBM) Department. He received his MBA in Marketing and PhD in Marketing and International Business from Panjab University’s University Business School. He has more than 14 years of teaching and research experience. His areas of interest in teaching are Marketing Research, Research Methodology, Management Science, Applied Operations Research, Marketing Management and Strategic Management. He has presented papers in various national and international conferences and has published more than 10 research papers. His areas of interest in research are empirical modelling of marketing problems, service quality, new product development and emerging trends and issues in marketing.

Camelia-Daniela Hategan is professor PhD Habil. in Accounting at Faculty of Economics and Business Administration, West University of Timisoara. The author’s areas of interest in research include financial accounting, international financial reporting standards, financial audit and corporate social responsibility. She is a Member of the professional accounting association, the Chamber of Financial Auditors of Romania. She has published and presented numerous papers in this field in scientific journals indexed in Web of Science or other relevant databases. She has reviewed many articles for relevant journals, for example, Sage Open, Economic Research, International Journal of Emerging Markets, Sustainability, Education, Journal of Risk and Financial Management, International Journal of Financial Studies, and conferences.

Priya Jindal is currently working as an Associate Professor at Chitkara Business School, Chitkara University, Punjab, India, and holds a Master’s degree in Commerce and Economics. She earned her doctorate in Management. She has more than 15 years of teaching experience. She has supervised four PhD research scholars and two MPhil candidates. There are numerous research papers to her credit in leading journals, among them seven research papers have been published in Scopus Indexed Journal. Her areas of research include banking, finance and insurance. She has filed more than 18 patents and one copyright.

Tanveer Kajla is an Engineering Graduate with Doctorate in Tourism Analytics, presently working in NALSAR University of Law, Hyderabad, India. He worked as Assistant Professor with Lovely Professional University. Prior to that he also worked as Research Associate under ICSSR-IMPRESS Major Project at Punjabi University, Patiala (IN). He has published and presented papers in globally acclaimed conferences and journals. He has been instrumental in delivering expert talks on subjects like Business Analytics, Big Data Analytics, R and Hadoop in academic institutions. His area of research includes social network analysis, sentiment analysis, Twitter and Facebook analysis and text classification.

Saurabh Kumar is an Assistant Professor at the Department of Statistics, Central University of Rajasthan, Ajmer, Rajasthan, India. He received his BSc (Hons.) degree (2011) in Statistics from Patna University, Patna, Bihar, India. Due to his outstanding performance during BSc, he received the Vice-Chancellor’s Gold Medal from Patna University, Patna, Bihar, India. He also earned MSc degree (2013) in Statistics from Pondicherry University (A Central University), Puducherry, India. Subsequently, he joined the Department of Statistics, Central University of Rajasthan, Ajmer, Rajasthan, India, where he completed his PhD (2020) degree in the field of Time series and Big Data. Currently, he is engaged in understanding the Impact of the Outlier in Time Series Data and developed some statistical methodology for Big Data Time Series. He has published six research articles in peer-reviewed journals (Scopus and UGC Care List) and two edited book chapters. He has presented several papers relevant to his research areas in national and international conferences.

Vinay Kumar is a PhD scholar from Lovely Professional University and is a Corporate Professional in the IT industry. He has done MBA (Marketing and Biotechnology) from Amity University. Qualification includes BSc in Botany and Chemistry, a Diploma in C Language (programming) and various certifications in Data Science and Analytics. He has specialised experience in management and strategy. So far, the author works for private organisations in domestic and international companies for specialised industries. With this experience and knowledge of the latest technology, the author justifies the information claimed in the book and qualifies to add value to the content.

Divya Mahajan is a Gold Medallist in MBA Hons. (Financial Services) from the Department of Commerce and Business Management, Guru Nanak Dev University, Amritsar. She topped in all four semesters of MBA by securing CGPA of 9.51 (84.63 per cent). She qualified the UGC Net Exam in Management while she was pursuing MBA. Since then, she is associated with the department and has worked as Assistant Professor for six years in the Department of University Business School, Guru Nanak Dev University, Amritsar. Currently she is working as Assistant Professor in the Department of Humanities and Management at National Institute of Technology, Jalandhar, Punjab. She has contributed effectively towards research and her Doctoral Degree by publishing Research Papers, Book and Chapters related to the fields of Entrepreneurship and MSMEs with reputed publishing houses.

Marica Mazurek’s research interest is competitiveness of tourism destinations, branding, marketing, place marketing, place branding and innovations. She participated in several academic exchanges in Canada at Brock University and the University of Waterloo, Ontario. She is the Author of several academic Scopus publications and book chapters in Emerald or Cambridge Scholar Publishing. She is the Author of the book Models of Branding. She is a Founding Member of EATSA. She is a Full-time Researcher at the Centre of Research of the University in Zilina, Slovakia. She is a Member of the Editorial Board of the Scopus journal Communications.

Susmita Priyadarshini Mishra has one year of litigation experience in the fields of Criminal Law and Vigilance Law. She is currently pursuing her PhD in Law. She has completed her BA LLB (Hons.) and LLM in Criminal and Security Law specialisation. Her interests are criminal law, criminal behavioural analysis and multidisciplinary study of subjects with law.

Yogesh Mishra has four years of teaching experience. He joined the teaching profession after pursuing BA LLB (Hons.) and LLM in Constitution and Administrative Law. Currently, he is doing his PhD. His interest area revolves around Public Law, Disability Laws and Rights and also Artificial Intelligence. He has published various papers in reputed journals including Scopus and UGC Care.

M. Krishna Murthy obtained PhD in Commerce and Master of Business Administration in Finance and International Business, with over 20 years of expertise in Accounting and Finance Education. He has presented more than 20 research papers in national and international conferences and published more than 25 research articles in peer-reviewed journals, UGC Care listed journals, SCOPUS and Springer Nature. He has conducted several research and academic-related workshops. He has been a Member of the Subject Expert Committee to review the curriculum in universities and colleges in Oman. He has been awarded three research-funded projects (Ministry of Higher Education, Sultanate of Oman).

Pratik Priyadarshi is professional of the Direct Recruits Batch of United India Insurance Co Ltd, 1989 batch. He has a vintage of over 33 years in the insurance industry. He has had a varied experience in different positions in Underwriting, Product Development, Business Development and Risk Management in both Public Sector and Private Sector Insurance companies. He has served at various positions in United India Insurance Co, Tata AIG, IFFCO Tokio, L&T Insurance. With a postgraduation from Delhi University, a PGDM from IGNOU and an MBA (Marketing) from Anna Malai University, he has been actively involved in consultancy work, training and advisory functions related to activities in the General Insurance Industry. He is also a member of the Insurance Institute of India. He has also been involved in imparting knowledge by virtue of being Visiting Faculty at B-Schools and other educational institutions in Delhi, NCR. He has been a speaker, moderator, panellist and participant in many national and international conferences.

Nishita Pruthi is a Full-time Scholar at the Institute of Management Studies and Research, Maharshi Dayanand University. She has contributed two research articles in peer-reviewed journals. She has also contributed five chapters in edited books. She has presented papers in numerous national and international conference. Her area of interest includes digital marketing, social media marketing and customer engagement.

A. Pushpa obtained PhD in Business Administration and is presently working as an Assistant Professor in the Department of Commerce PG, Kristu Jayanti College (Autonomous), Bengaluru, with over 20 years of expertise in Finance and Accounting education. She has published more than 20 research articles in peer-reviewed, UGC Care listed and Scopus.

Kazi Turin Rahman is a published researcher in the field of marketing, social media and technology. Moreover, he obtained his MBA from Coventry University, UK, with distinction. He has served as a reviewer for various reputed journals like International Journal of Strategic Decision Sciences (IJSDS), South Asian Journal of Marketing (SAJM). Professionally, he had the privilege of working in distinguished organisations such as Kantar and Sainsbury’s, UK.

U. Ramya obtained PhD in HR with over 16 years of expertise in Human Resource Management and Marketing. Currently working as an Assistant Professor in REVA University (Bangalore), with a teaching experience of around 12.5 years and three and half years of industrial experience. Her area of research interest lies in Human Resource Management, with strong knowledge of marketing, organisation behaviour and business communication. She is actively involved as a Member of various committees, Faculty Development Programmes and other Student Development Programmes. She has served as Controller of Examinations, question paper setter, Internal Examiner, Valuator, Resource Person for MSME (Micro Small Medium Enterprises) Chennai, Tanstia-FNF Service Center, Guindy, Chennai, and Entrepreneurial Development Institute, Guindy, Chennai. She has published 12 research articles in peer-reviewed, UGC Care listed journals.

Ramona Rupeika-Apoga is a Professor of Finance at the University of Latvia and Head of the Department of Finance and Accounting. She is an Affiliate Professor at the University of Malta and a Visiting Professor at the University of Lodz in Poland. Her accomplishments include leading numerous international and national research projects. She has over 20 years of pedagogical experience in Latvian and European Higher Education Institutions, with specialised knowledge in Risk Management, International Finance, FinTech and Corporate Digital Transformation.

Naresh Sachdev Since 2015, Naresh Sachdev has had an academic orientation that has led him to pursue a highly desired opportunity as a Professor-cum-Dean in Business Management. This has provided him with exposure to the field of teaching and allowed him to add value through the theoretical knowledge available on these subjects and the practical knowledge he has gathered over the course of his long 30 year entrepreneurial career. More than three decades’ worth of business ownership has provided extensive training in all facets of sales, marketing, customer relations, industry knowledge, product expertise, operational management, human resource management, finance, and accounting.

Mustafa Hakan Saldi graduated from the Industrial Engineering Department of Yıldız Technical University’s Mechanical Faculty of Natural and Applied Sciences in 2011. He attended language education and engineering classes in the United States between 2011 and 2012. After that, he completed his Master’s degree in Yıldız Technical University’s Business Management Department of Social Sciences Faculty. Then, he accomplished his doctorate in the Business Administration part of the School of Economics and Administrative Sciences at Anadolu University.

Seval Kardes Selimoglu graduated from Anadolu University, the School of Economics and Administrative Sciences, Faculty of Business in 1984. She started her academic career in 1986 as a Research Associate at Anadolu University, the School of Economics and Administrative Sciences, Faculty of Business, Department of Accounting and Finance. She completed her Master’s degree at Anadolu University, Institute of Social Sciences, Department of Accounting in 1987. She obtained an International MBA (IMBA) degree in the United States of America (OHIO-Cleveland) from Baldwin-Wallace University in 1990. She completed her Doctorate at Anadolu University, Institute of Social Sciences, Department of Accounting in 1995.

Kasturi Shukla is a trained Hospital Administrator and has completed her PhD in Health-Related Quality of Life in Adolescent Population. She is presently working as Associate Professor, Dr. D. Y. Patil Vidyapeeth (Deemed-to-be-University), Pune, India. She has more than 18 years’ experience in industry, research and academics. She has more than 30 national and international original research articles and two books to her credit. She is on the Review Board of some of the reputed health journals. Besides Hospital Management and Quality, her core research interest includes Health-Related Quality of Life, Resilience, Medical Value Travel, Sustainability and Green practices.

Arvind Kumar Shukla is Associate Professor at the Department of Management Invertis University Bareilly. He obtained degrees in MCom, MBA and PhD. He is heading the entire PhD research programme in Invertis University since 2012; published more than 25 research papers in Scopus, UG Care listed journals; was convenor of more than six international conferences and summits; participated in more than 20 national and international conferences; and has academic experience of 24 years.

Mariya M. Shygun holds Doctorate in Science in Economics (Accounting, Analysis and Audit), Professor, Auditor of Ukraine and Chair of the Accounting and Consulting Department at the Kyiv National Economic University named after Vadym Hetman (Kyiv, Ukraine). She has authored more than 240 publications; leader and participant in more than 12 research on accounting, auditing and taxation; has been awarded for CIMA Employability Excellence Award 2021 – Regional Champion (Europe) and for Distinguished Contribution 2020 ‘Conceptual Changes in Accounting’ for the CIMA Research Excellence Award, presented by the CGMA Global University and Academic Center of Excellence. Awarded as a Recognised Expert in the field of audit by the ‘Honor of the Audit Chamber of Ukraine’ (2016). Research interests include theory and methodology of accounting and auditing; modelling of accounting system; and strategic management accounting and control.

Kawal Nain Singh is Associate Professor at School of Management Studies, CT University, Ludhiana. He is specialised in the field of Finance and Marketing. He has 18 published research papers in refereed journals. He has received Letter of Appreciation from Ministry of Micro Small and Medium Enterprises for acting as a Resource Person. He is a certified person by ‘Bosch India’ for Skill Development Program for Youth. He is an Active Member of Institution’s Innovation Council, Ministry of HRD Initiative. He is also an Active Member of Board of Studies for Punjabi University affiliated College. He has successfully completed a certification course in ‘Business Analytics’ from Harvard Business School Online.

Sarabjeet Singh holds Doctorate in Finance. He has more than 10 years of teaching and research experience. Prior to academic work, he has also worked in industry. He is working as Associate Professor at Chitkara Business School, Chitkara University, Punjab. He has published various papers in peer-reviewed journals and also participated in international and national conferences. He has also participated in various Faculty Development Programmes and given experts talk career counselling. He has developed and delivered value-added courses. Presently he is taking care of placement and internship activities for undergraduate students under the capacity of Placement Head Team.

Satinder Singh has more than nine years of teaching experience as well as research experience. He earned his doctorate in Business Finance and is currently working as Assistant Professor with Chitkara Business School, Chitkara University, Punjab. He has participated in various Faculty Development Programmes and attended many researcher workshops covering statistical tools and applications of advance software-SPSS, Amos, R, Pythons, Excel Research Analytic tools in research. He has also attended and participated regularly in national and international conferences. He has published research papers in peer-reviewed journals and presented various research papers in national and international conferences.

Deepak Sood obtained PhD in Business Administration (Finance) from Inder Kumar Gujral, Punjab Technical University, Punjab, and Master’s in Commerce from Panjab University, Chandigarh. He has also done his Postgraduate Diploma in Business Administration (Finance) from Symbiosis, Pune. He is an Associate Professor in the Finance and Accounting area of Chitkara Business School, Chitkara University, Punjab, and, currently, Heading the vertical MBA-BFSI at Chitkara College of Sales and Marketing, Chitkara University. He has presented research papers in several international and national conferences. He has acted as Session Chair in conferences in reputed institutes and has published research papers in various national and international journals and filed patents to support SDGs.

Dinesh Tandon is a Finance and Accounting Faculty with the Chitkara Business School, having a total knowledge sharing experience of seven years. Previously he was Faculty in the respective stream in Mittal School of Business, Lovely Professional University. As far as his academic credentials are concerned he has done his PhD in the area of Corporate and Behavioral Finance from Punjabi University, Patiala. He is double postgraduate in Management (MBA) and Commerce (MCom) from Punjabi University and IGNOU, New Delhi, respectively. He has UGC NET in both subjects of Commerce and Management. As previously mentioned, his research areas are Corporate and Behavioral Finance, he has a number of research publications and conferences to his credit and filed patents supporting SDGs. Presently, he is supervising a PhD candidate. He has recently attended global week of Telkom University, Indonesia, and has delivered a two weeks’ course on Financial Management.

Birol Yildiz, PhD, is an Accounting Professor in the Faculty of Economic and Administrative Sciences, Department of Business Administration at Eskişehir Osmangazi University, Turkey. He is a Certified Public Accountant. He also serves as an Expert Witness and Trustee at commercial courts. His current academic interests focus on machine learning and natural language processing applications in accounting, auditing and finance. He is the Author of numerous peer-reviewed articles, book and book chapters on the subject of accounting, accounting and artificial intelligence, and accounting standards.

Jyoti Verma is a Faculty at Chitkara Business School, Chitkara University, Punjab, India. With more than 19 research papers to her credit published in various journals and conferences at national and international level, she has developed her core expertise in the area of service quality, blockchain and behavioural finance. She has authored one book titled Accelerating the Development of Quality of IT-Enabled Banking Services by international publishers and published many book chapters in edited books at international level. She has published many patents and has prepared and delivered many e-content programmes on Research Methodology (MHRD Projects).

Andrii Zhuravel is a PhD student of Accounting and Taxation at the Accounting and Consulting Department at the Kyiv National Economic University named after Vadym Hetman (Kyiv, Ukraine). He is an Author of eight publications and a participant in a research on VAT Accounting and Taxation. He also combines scientific work with a practical one being certified SAP FI consultant with more than five years of experience. Research interests include theory and methodology of accounting, taxation and modern DSS.

Foreword – 1

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The role of Artificial Intelligence (AI), Machine Learning (ML), usage of Chat bots and the emergence of Block Chain Technology has had a salutary effect on the technological innovations that have supported the financial sector. A lot of misgivings and apprehensions have been laid to rest and it has been brilliantly brought about in the edited book.

The banking, mutual funds market and insurance sectors, part of the service sector, have always had to bear the brunt of numbers – number of bank accounts, number of policies issued, number of investors and ultimately the number of account/policy holders. Basically, because of the numbers game (and let us remember that we have touched the 8th billion number in population today), the service sector financial organisations had to undertake the task of learning, unlearning, and relearning for their employees and staff members so that the technological advancements are easily used by them. This transition from the physical paper and pen to digitisation and then to take it to the next level has been an arduous task which has very effectively been reflected in some of the chapters of this book.

The innovations and technology combined have brought disruptions to the fore and these disruptions have been aided by the AI, ML and the likes to ensure that the service sector financial organisations touch a new height because of simplification of the physical processes and the ease of doing business from anywhere! Before we generalise the disruptions, let us also understand the fact that this is not an Indian phenomenon alone – it is global in nature as discussed in this book.

What appeals most about the entire efforts by the authors and the editor is the fact that the flow of the chapters has been reflective of the gradual development in this sector. A case in point is the development of the MSMEs and the role of digitisation and upgradation of technology that this ‘backbone’ of the Indian economy could harness. The coverage of the Sustainable Development Goal 9 (Goal 9 or SDG 9) is about ‘industry, innovation and infrastructure’ and is one of the 17 Sustainable Developmental Goals adopted by the United Nations General Assembly in 2015. SDG 9 aims to build resilient infrastructure, promote sustainable industrialisation and foster innovation, which has been dealt with here.

The specific case studies whether related to the Punjab, Ukraine, Role of Multimedia Innovative Technology in Green Banking or the e-waste management has been very subjectively dealt with.

And that dear readers is the crux of the edited book where new horizons are reached by way of ensuring that the common man’s challenges, difficulties and problems have been provided solutions by way of these innovations.

I wish the readers a very happy reading and hope that the areas/people covered herein would benefit out of these ruminations and bring to fore the success stories to be emulated.

Prof. Pratik Priyadarshi

Associate Professor

Birla Institute of Management Technology,

Greater Noida

Foreword – 2

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Emerging technologies promise new solutions, increased innovation and new avenues for connecting with our customers and markets. The Internet of Things, cloud computing, virtual and augmented reality, blockchain, artificial intelligence and e-commerce are just a few of the emerging technologies reshaping the world. However, as with any opportunity for growth, they come with risks that businesses should start thinking about right away. As emerging technologies have already permeated our daily lives and are here to stay, it is critical that organisations understand the risks posed by these emerging technologies so that professionals in risk management, corporate security and information security can begin to develop strategies and initiatives to prepare their organisations to embrace and capitalise on these technologies.

The book Contemporary Studies of Risks in Emerging Technology is aimed at both scientists and professionals who are interested in emerging technologies and the risks associated with their application. It covers a wide range of topics, including the emerging role artificial intelligence in financial services, chatbots and their applications, how to apply machine learning algorithms to improve user experience, green computing for sustainable future technologies and many others. The book devotes special attention to blockchain technology, an emerging technology widely regarded as one of today’s most promising opportunities for banks and other financial institutions. However, despite being one of the most popular emerging technologies in the banking industry, blockchain is not yet widely available, as fully embracing the power of blockchain technologies may take 10–20 years.

I hope readers enjoy this fascinating journey of knowledge and do not get lost in the mazes of emerging technology!

Yours sincerely,

Dr Prof. Ramona Rupeika-Apoga

University of Latvia

Preface

With the rapid development of technologies, it becomes increasingly important for us to remain updated on new and emerging technologies. This series, therefore, aims to deliver content on current and future technologies and how the young generation benefits from them. The global financial crisis has highlighted major weaknesses in financial records, information and data. These weaknesses have led to inadequate access to financial records and information, higher operational risks, flawed bankruptcies and foreclosure proceedings. The lockdown due to the ongoing Covid-19 pandemic has increased the scope for criminals to exploit vulnerabilities and commit financial crimes. The increased online presence and homeworking have significantly expanded the attack surface for cybercriminals. Criminals use vulnerabilities, increasing the risks of cyberattacks, money laundering (ML) and terrorist financing (TF). Research is therefore needed to identify trends, tools and applications that will provide the necessary records, information and data to support more effective financial analysis and risk management.

The unique contribution of this volume is bringing together researchers from distinct domains that seldom interact to identify theoretical, technological and practical issues related to managing financial records, information, data and security.

Emerging technologies have redesigned the financial services industry through innovative means to cater to evolving customer expectations of personalisation and ease. Fintech has progressed as one of the most pioneering and cost-effective disruptive technologies. Initial adaptation of Fintech solutions has permitted several start-ups, financial service providers and other assorted sectors to accomplish an augmented pace of growth. This book also highlights how emerging technologies alter the subtleties of doing business for benefactors, the possibility of emerging technologies, advantages and disadvantages, technology-linked issues/challenges in financial services and the drivers of this revolution.

The book revolves around ethical, legal and political/policy issues in the use and regulation of technology. The interdisciplinary nature of the series editorial team offers the best possible examination of works that address the ethical, legal and social implications of emerging technologies. This text is essential for technologists, IT specialists, programmers, computer scientists, engineers, managers, administrators, academicians, students, policymakers and researchers, covering topics such as computer-supported collaborative learning, machine learning algorithms and blockchain.