Implementing AI-Based Recommendation Systems for Personalized Financial Services in Libraries

Implementing AI-Based Recommendation Systems for Personalized Financial Services in Libraries

N. P. Kowsick, K. Ramasamy
Copyright: © 2024 |Pages: 9
DOI: 10.4018/979-8-3693-5593-0.ch017
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Abstract

Artificial Intelligence (AI) has revolutionized various sectors, including finance and libraries. Libraries are increasingly adopting AI-based recommendation systems to provide personalized financial services to patrons. This chapter explores the implementation of AI-driven recommendation systems within library settings to offer tailored financial guidance. Leveraging advanced machine learning algorithms, these systems analyze users' financial preferences and behaviors to offer customized recommendations for financial resources and educational materials. The adoption of AI-based recommendation systems aims to enhance access to relevant financial information and empower individuals to make informed financial decisions. By leveraging AI technology, libraries can cater to the diverse needs of their patrons, fostering financial literacy and inclusion.
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The Role Of Libraries In Promoting Financial Literacy

Libraries have long served as vital community resources for promoting aii, knowledge dissemination, and empowerment. In recent years, there has been a notable shift in the role of libraries towards addressing broader societal needs, including financial literacy Aithal, S., & Aithal, P. S. (2023).. Recognizing the importance of financial literacy in fostering economic resilience and social inclusion, libraries have increasingly become proactive in providing resources and programs to enhance patrons' financial knowledge and skills Senthilkumar, K. R., Jagajeevan, R., & Sangeetha, S. (2024).. Through workshops, seminars, and access to relevant materials, libraries aim to equip individuals with the necessary tools to make informed financial decisions, manage resources effectively, and plan for the future. By democratizing access to financial information and education, libraries play a crucial role in bridging the gap between financial services and underserved communities, thereby promoting financial inclusion and economic empowerment Kurshan, E., Shen, H., & Chen, J. (2020, October).

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