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 A

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: 978-1-80455-563-7 (Print)

ISBN: 978-1-80455-562-0 (Online)

ISBN: 978-1-80455-564-4 (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.

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.

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).

About the Contributors

Shazib Ahmad is a Student with the School of Computing Science and Engineering at Galgotias University, Greater Noida, Uttar Pradesh, India. He is currently pursuing the Bachelor of Computer Application (BCA) from Galgotias University. He completed his schooling from S.N. Public School Mirzapur.

N. Ambika holds the degrees MCA, MPhil, Ph.D. in Computer Science. She completed her Ph.D. in the 2015 from Bharathiar University. She has 16 years of teaching experience and currently works with St.Francis College, Bangalore. She has guided BCA, MCA, and M.Tech. students in their projects. Her expertise includes wireless sensor network, Internet of Things, and cybersecurity. She gives guest lectures in her expertise. She is a reviewer of books, conferences (national/international), encyclopedia and journals. She is an Advisory Committee Member of some conferences. She has many publications in national and international conferences, international books, national and international journals and encyclopedia’s. She has some patent publications (National) in computer science division.

Shreya Arora is a Research Scholar at the Faculty of Management Studies, Gurukul Kangri (Deemed to be University), Haridwar. Her qualifications include B.Com. (CFA) and M.Com in Finance, B.Ed, CMA group 2nd qualified. Her teaching and research areas include multidisciplinary fields like Finance, Banking, and Commerce. She has completed her undergraduate and post-graduate degrees in Commerce. She has working experience as an Assistant Professor for up to 4 years at MMV(PG) College. She has attended various national and international conferences. She has been awarded the best paper presentation award in September 2018 at the national conference. She won the first prize in an online debate competition conducted by Glocal University. She has also authored one book.

Rajni Bansal, PhD, CMA, is with Chitkara Business School, Chitkara University, Punjab, India. She is an Academician of a great standing, worked as a Faculty and Academic Administrator for over 14 years in her previous positions. She is also Cost and Management Accountant and a Certified Member of Institute of Cost Accountants of India. Her research interests are in the fields of Cost Accounting, Finance, and Taxation. She has earned various positions during her journey such as the Head of the Department of Management, Editor PIMT Journal of Research (UGC Care Listed Journal), acted as a Superintendent, acted as an Assistant to Controller in Evaluation of PTU Exams and many others. She has attended various national and international conferences. She has also published two books along with more than 20 papers in various national and international journals. Her name has also been included in the editorial of various UGC Care Listed Journals.

Swati Bhatia, PhD, is presently working as an Associate Professor with Asian Business School under the aegis of Asian Education Group, Noida. With assignments in areas of Administration, Human Resource Management, Liaison Coordination, Team Management, Training & Development, she has a noteworthy cross-functional experience of over 20 years in Strategic & Tactical Planning, Problem Resolution, Connexion, Performance Management, and Onboarding. She has to her credit, presenting papers in conferences. Her works have published in notable Journals. She is a Member of the editorial board of various national and international journals. She received the Distinguished Faculty Award & Best Researcher Award.

Chanchal is with Chandigarh University. She obtained the Doctorate from Lovely Professional University, Jalandhar, and pursued her Post Doc from ‘Faculdade de Economia da Universidade do Porto’, Portugal. She has completed her M.Phil. from Lovely Professional University and MBA with first-class distinction from Punjab Technical University. She has more than 7 years of experience in teaching and attended more than 15 conferences and workshops. She has more than 5 publications and 2 case studies in various journals. Her core areas of research are Marketing and Human Resource Management. She has given guest lectures and organised various events.

Chetna, PhD, is presently working at the PG Department of Mathematics, M.M. Modi College, Patiala, Punjab, India. She holds M.Sc. (Mathematics), M.Phil, and a Doctorate in the area of Quadratic Forms. She has also done pioneering work by proving the Hensel’s Lemma with a different method for which she was awarded with Best Researcher Award during an international conference in 2018. She has more than 16 years of rich experience in teaching and research. She has attended many national and international conferences and seminars. She has 1 book and 12 research papers published to her credit.

Kavita Dahiya, MBA (IB), is Net qualified in Management. She is pursuing her Ph.D. in Rural Development Entrepreneurship from CDLU, Sirsa. She is presently working in Guru Kashi University, Talwandi Sabo, Punjab, India. She has presented more than 15 research papers in various national and international conferences. She also attended about 15 FDPs, workshops, and seminars including webinars. She has published more than 20 research papers in national and international journals (Scopus indexed and UGC care listed) and edited books on different areas of banking and rural entrepreneurship.

Jagjit Singh Dhatterwal, PhD, is presently working as an Associate Professor with the Department of Artificial Intelligence & Data Science Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India. He obtained the Doctorate in Computer Science from Mewar University, Rajasthan, India. He received the Master of Computer Application from Maharshi Dayanand University, Rohtak (Haryana). He has also worked with Maharishi Dayanand University, Rohtak, Haryana. He is also a Member of Computer Science Teacher Association (CSTA), New York, USA, International Association of Engineers (IAENG), Hong Kong, IACSIT (International Association of Computer Science and Information Technology, USA, Professional Member of the Association of Computing Machinery, USA, IEEE, and a Life Member of the Computer Society of India, India. His areas of interest include Artificial Intelligence, BCI, and Multi-Agents Technology. He has a number of publications in international and national journals and conferences.

Chabi Gupta, PhD, is with Christ University, India. She is an alumnus of Shri Ram College of Commerce, Delhi University. She has over 21 years of rich teaching and industry experience. To her credit there are several national and international publications, and presentations in conferences. Her research areas of interest are Finance, Banking, and Analytics. Her published book on Investment Banking, based on the NYU curriculum has been ranked as second best e-book in the world to read amongst the seven best books on Mergers and Acquisitions by Booksauthority.org.

Ruchika Jain holds B.Com, MBA, M.Com, UGC-NET, PhD. At present, she is working as an Assistant Professor at Gobindgarh Public College, Alour, Khanna, Punjab, India. Her area of specialisation is Finance. She has written two books as a co-author on the topics Security Analysis and Portfolio Management (ISBN: 978-93-5058-712-6) and Portfolio Management (ISBN: 978-93-5058-567-2) for the B.Com students of Panjab University, Chandigarh and Guru Nanak Dev University, Amritsar, respectively. She has edited a book on the title Migrant Workers Crisis in India During COVID-19 (ISBN: 9781637810385). All these books are available to be sold at Amazon. She has to her credit 21 research papers in journals and conference proceedings of national as well as international repute.

James Kanda is an Assistant Professor at GNA University, Phagwara. He has completed MBA in Marketing from Punjab Technical University, Jalandhar. He also cleared 1 National Level test – UGC NET in Management in 2012. He has more than nine years of teaching experience, attended more than seven conferences, summits, and has three publications in reputed international, and UGC journals. He has attended two FDPs and completed one online course on Entrepreneurship in Emerging Economies by HarvardX offered by Harvard University on edX learning. His areas of research are marketing and the stock market. He worked as a Superintendent and Head Examiner in regular, DEP examinations at Punjab Technical University.

Kuldeep Singh Kaswan, PhD, currently works with the School of Computing Science & Engineering, Galgotias University, Uttar Pradesh, India. His contributions focus on BCI, Cyborg, and Data Sciences. His academic degrees and 13 years of experience working with global Universities like, Amity University, Noida, Gautam Buddha University, Greater Noida and PDM University, Bahadurgarh, has made him more receptive and prominent in his domain. He received Doctorate in Computer Science from Banasthali Vidyapith, Rajasthan. He has obtained Master Degree in Computer Science and Engineering from Choudhary Devi Lal University, Sirsa (Haryana). He has supervised many UG and PG projects of engineering students. He has supervised 2 Ph.D. graduates and presently is supervising 4 Ph.D. He is also a Member of Computer Science Teacher Association (CSTA), New York, USA, International Association of Engineers (IAENG), Hong Kong, IACSIT (International Association of Computer Science and Information Technology, USA, Professional Member Association of Computing Machinery, USA, and IEEE. He has number of publications in international/national journal and conferences. He is an Editor and Review Editor of journals and books.

Baljinder Kaur is currently working as an Assistant Professor at Chitkara Business School, Chitkara University, Rajpura, Punjab, India, and pursuing her PhD in the field of Forensic Accounting. She had been assigned as an Academic Coordinator for B.Com (International Finance and Accounting) program for two years from 2017–2018 to 2019–2020. She had been assigned added responsibility as ‘Activity In charge’ during the year 2016–2017. She has done her M.Com from MCM DAV Chandigarh and UGC Net qualified in commerce. She has seven years of teaching experience and her areas of expertise are Accounting & Finance. Her credentials include more than 15 research papers published and presented in national and international journals and conferences. She has effectively convened national-level faculty development program in the year 2017 and 2022. Recently, she has completed two consultancy projects in the field of operations research.

Ramandeep Kaur, PhD, is an Assistant Professor with Chandigarh University, Mohali. Kaur has research experience of 8 years (6 year Ph.D + 2 year M.Phil). Kaur has more than 1 year of teaching experience. Kaur completed the Ph.D degree from Panjab University, Chandigarh. Kaur M.Phil research is on Monetary Policy Transmission Mechanism and Ph.D research is on International Trinity Hypothesis. Kaur’s specialisation is on Macro Economics. Kaur has published eight research papers. The topics of research papers are related to international trinity hypothesis, business cycle research mostly. Kaur is currently supervising one Ph.D scholar.

Rupinder Kaur holds a Doctoral degree in Economics. Her area of specialisation is Health Economics. She is currently working as an Assistant Professor with USB, Chandigarh University, Mohali. She is extensively involved in research with keen interest in multidisciplinary dimensions such as gender studies, health, medico laws, etc. She has published research papers with various reputed journals. She is an Editor of the International Multi-disciplinary Journal of Amity Law School, Noida. She has edited two books.

Keshav Kaushik is working as an Assistant Professor (Senior Scale) with the School of Computer Science at the University of Petroleum and Energy Studies, Dehradun, Uttarakhand, India. He is an experienced educator with over 7.5 years of teaching and research experience in Cybersecurity, Digital Forensics, the Internet of Things, and Blockchain Technology. He received his B.Tech degree in Computer Science and Engineering from the University Institute of Engineering and Technology, Maharshi Dayanand University, Rohtak. He received his M.Tech degree in Information Technology from YMCA University of Science and Technology, Faridabad, Haryana. He has published 40+ research papers in international journals and has presented at reputed International Conferences. He is a Certified Ethical Hacker (CEH) v11, CQI and IRCA Certified ISO/IEC 27001:2013 Lead Auditor, and Quick Heal Academy certified Cyber Security Professional (QCSP). He acted as a keynote speaker and delivered 50+ professional talks on various national and international platforms. He has edited more than eight books with reputed international publishers. He has chaired various special sessions at international conferences and also served as a reviewer in peer-reviewed journals and conferences.

Aakash Khindri is currently a Doctoral Student with the Department of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand, India. His research interests include life satisfaction, technological innovations, and business ethics.

Anurag Kumar, PhD, is a Professor and the Head of the Department of Finance and Commerce in Galgotias University, Greater Noida. He has 16 years of experience in academics. He has completed his PhD in Commerce from M.J.P. Rohilkhand University, Bareilly. He has done M.B.A., M.Com., M.Phil in academics. His research interest area is in Insurance and Finance with major focus on Bancassurance. He has published various research papers in reputed international journal (Scopus Indexed) and other journals. He has also presented various research papers on Bancassurance & Finance related topics in different national and international conferences. He is also guiding to research scholars in the areas of Commerce and Management. He has taught different management and finance related subjects to MBA, M.Com, BBA, B.Com students in different reputed business schools. He is also an author of two books on Advance Financial Accounting. He has conducted several FDP and MDP on Research Methodology Tips and techniques for Industry and Management Faculties.

Avadhesh Kumar, PhD, obtained his B.Tech. in Computer Science and Engineering from H.B.T.I. Kanpur, Uttar Pradesh, India, M. Tech. in Information Technology from Punjabi University, Patiala, Punjab, India, and Ph.D. in Computer Science with specialisation in Software Engineering from Thapar University, Patiala, Punjab, India. He has over 22 years of teaching and research experience with reputed institutions and universities. Presently, he is working as the Dean Planning and Chief Proctor at Galgotias University. He is a Member of Academic Council (AC) at Galgotias University. He is associated with several other universities / institutes as expert member of selection committee and member of Board of Studies (BOS).

His research areas are Aspect-Oriented Programming (AOP), Software Metrics, Software Quality, Component-Based Software Development (CBSD), Artificial Intelligence and Autonomic Computing. He is a Member of IEEE, ACM and a Life Member of Computer Society of India (CSI). He has published more than 40 research papers in SCI & Scopus indexed international journals/conferences. He is a Reviewer of many reputed international and national journals and has delivered keynote address in many reputed international and national conferences. He has supervised 41 PG and 80+ UG projects of engineering students. He had supervised 2 Ph.D. graduates and presently is supervising 8 Ph.D. students. He received a research grant of Rs.1000000/- from AICTE to establish research lab.

He has visited USA, Australia, and Malaysia for research talks in international conferences. He visited Georgia Institute of Technology, Atlanta, USA and University of Arkansas, Fayetteville, USA, as a member of high powered committee to understand their best academic processes and to explore opportunities for collaboration. He has been invited to deliver guest lectures on the emerging field of software engineering at several universities / institutes.

Naresh Kumar received his PhD in Computer Science and Engineering and Master of Technology (M.Tech) degree in Computer Science and Engineering with distinction in Research Work from MDU, Rohtak, Haryana. He is also CISCO Certified Trainer for Cisco Network Security, CCNA, CyberOps. His areas of research interest are Information Extraction, Big Data Analytics and Computer Networking. He has numbers of publications in international / national journals and conferences. He is working presently as a Professor with the GL Bajaj Institute of Technology and Management, Greater Noida, UP, India.

Pawan Kumar, PhD, has 15 years of teaching experience. He has obtained his highest degree from Kurukshetra University in India and worked in educational institutions. At present, he is working as an Associate Professor in Finance with the University School of Business, Chandigarh University, Mohali, India. The author published more than 25 five research papers in various journals. Two books with the titles Indian Financial System and the Fundamentals and Principles of Insurance have been published. Moreover, five PhD scholars are also supervised by the author.

Pankaj Madan is a Multidisciplinary Academician with degrees in Production Engineering, Management, Web Technology, and Quality Management. Presently, he is the Dean, Faculty of Engineering at Gurukul Kangri (Deemed to be University), Haridwar. In the past, he has taught at various international universities and listed as a premium educator with Harvard Business School Publishing, Boston and an award winner of the ‘B School Excellence Award’ in ‘Best Teacher of Operations Management Category’. He has authored 12 books, supervised 15 Ph.D scholars and has conducted more than 500 workshops. He is a proud member of AIMA, CSI, and AOM.

Marica Mazurek is with Žilina University in Žilina, Slovakia. Her 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.

Saksham Mishra is a Student at the School of Computing Science and Engineering at Galgotias University, Greater Noida, Uttar Pradesh, India. He is currently pursuing a Bachelor of Computer Application (BCA) degree. His primary areas of interest include disruptive technologies like Artificial Intelligence and Machine learning.

Pawan Kumar Singh Nain is a Professor with the Department of Mechanical Engineering at Galgotias University, Greater Noida, Uttar Pradesh, India. His academic and research experience spans more than 25 years, and he has worked in various capacities or roles at some of the most prestigious institutions of India. He received the gold medal for academic excellence in the undergraduate programme in Mechanical Engineering at Aligarh Muslim University, Aligarh. He received his M.E. degree from the Indian Institute of Technology (IIT) Roorkee and Ph.D. from the Indian Institute of Technology (IIT) Kanpur. He received British Telecom (U.K.) Fellowship for Ph.D. at IIT Kanpur. His areas of interest are design and optimisation. He has over 35 publications so far in the areas of evolutionary algorithms, thermoelectric devices, and interdisciplinary research in optimization through the design of experiments. He is a Fellow of the Institution of Engineers (India).

Pratik Priyadarshi is a 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 post-graduation 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.

Rajbala currently works with the Department of Mechanical Engineering, Galgotias University, Uttar Pradesh, India. Her contributions focus on EWT, Power Plant, and Supply Chain. Her academic degrees and years of experience working with global Institutions/Universities made her more receptive and prominent in her domain. She is pursuing a Doctorate in Mechanical Engineering from Galgotias University, Uttar Pradesh. She has obtained a Master Degree in Mechanical Engineering from Guru Jambheshwar University of Science and Technology, Hisar, Haryana, India. She has supervised many projects for engineering students. She is also a member of Computer Science Teacher Association (CSTA), New York, USA and International Association of Engineers (IAENG). She has a number of publications in international/national journals and conferences. She is an Editor and Review Editor of journals and books.

Reena Rani, Ph.D., is working as an Assistant Professor at Chandigarh University. She completed her Doctorate in Management from Punjab Technical University, Jalandhar. She has completed her MBA in Finance/HRM from Punjab Technical University, Jalandhar. She also did M. Com from Guru Nanak Dev University. She also cleared 2 National Level tests - UGC NET in Commerce in 2007. She also cleared UGC NET with JRF in Management in 2011. She has more than 8 years of teaching experience, attended more than 11 conferences and summits, and has 14 publications in reputed international, and UGC journals. She has attended 3 FDPs and various workshops. Her interest areas for research are in Finance, Banking, and the Stock Market. She has given guest lectures and organized events.

Ramona Rupeika-Apoga, PhD, is a Professor of Finance at the University of Latvia and the 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. The professor 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.

Neena Seth holds the degrees M.Sc (Gold Medalist), B. Ed, M.A. (Education) from Kurukshetra University, and Ph.D. She is currently working as the Principal at Gobindgarh Public College, Alour, Khanna, Punjab, India. She is a Trained National Assessment & Accreditation Assessor. She was Awarded ‘Sir D.C Cooper Young Scientist Award’ for best research paper at National Level in 1998 & ‘Bharat Shiksha Rattan Award’ at New Delhi in 2018. In year 2000, CSIR, New Delhi awarded her Post-Doctoral Fellowship and in year 2004 awarded fellowship under Scientist Pool Scheme. She has published one book, more than two dozen research papers with high impact factor in international and national journals of repute. She has completed two sponsored research projects at Punjabi University, Patiala and supervised five MPhil students.

Kumar Shalender, PhD, is a Post-Doctoral Fellow of Global Institute of Flexible Systems Management and Doctor of Philosophy in Strategic Management. He is an Associate Professor, Chitkara Business School, Chitkara University, Punjab. He has more than 14 years’ experience in domain of Business Policy, Strategic Management, and Business Model Development and a total of 70 publications including presentations in international/national conferences and book chapters to his credit. His current research areas include the fields of Metaverse, Blockchain Technology, and Sustainable Development with special focus on sustainable cities and mobility ecosystem in India.

Aradhana Sharma is currently working with the Department of Commerce and Management, Gobindgarh Public College, Alour, Khanna. She has 11 years of experience in teaching undergraduate classes. Her main areas of interest are finance, accountancy and management studies, marketing management, and organisation behaviour. She has attended many conferences and presented paper in many national seminars. She also has published many national level research papers. She also worked as a Central Superintendent in Panjab University Exams.

Bhavna Sharma, PhD, is an Assistant Professor with the Department of Finance and Commerce, Galgotias University, Greater Noida, Uttar Pradesh, India. She has seven years of experience in academic. She has completed PhD in Management from Punjabi University, Patiala. Her research interest is related to technology, marketing, and gender related studies. She has attended different workshop, conferences, and webinar for better skill development.

Dhiraj Sharma is currently working at Punjabi University, Patiala, Punjab in the Department of School of Management Studies. He holds three Post-graduate degrees in the areas of Finance, Commerce, and Business Administration and one Post-graduate diploma in Computer Applications. He is UGC-NET (National Eligibility Test) qualified in the area of Management. He holds Doctorate in the area of Banking and Technology. He has successfully supervised 15 PhDs and currently 5 candidates are pursuing their doctorate under his supervision. His major research project on Internet Banking in North India was approved and financed by University Grants Commission (UGC) of India. He has 14 books and more than 50 published articles/papers to his credit. Many of his books are serving as text and reference books for many graduate and post-graduate courses in colleges and universities. He has independently developed many books for several institutions notably among them are: All India Management Association (AIMA), New Delhi; Indian Institute of Materials Management (IIMM), Mumbai; Bangalore University, Bengaluru; Punjab University, Chandigarh.

Sandhir Sharma holds Ph.D. in Strategic Management with nearly 22 years of experience in higher education and 5 years in Telecom industry. With more than 43 research papers to his credit published in various journals and conferences at national and international levels, he has developed his core expertise in the area of Strategy Formulation. His research has widely published in various newspapers. Currently, he is serving as the Dean at the Chitkara Business School and a Visiting Faculty to Binus University, Indonesia and University of Applied Sciences, Osnabruck, Germany.

Vandana Sharma is an Associate Professor at Amity Institute of Information Technology, Amity University Noida Campus, India. Before this assignment, she served NAAC-accredited A+ institutions like Guru Gobind Singh Indraprastha University, Delhi and Galgotias University, Greater Noida Campus. She has obtained her doctoral degree, M. Tech(I.T) and B. Electronic Commerce from Amity University, Noida Campus and Guru Gobind Singh Indraprastha University, Delhi respectively. Currently, she is a post-doctoral fellow at Lincoln University College, Malaysia.

She is a Senior Member of IEEE and has filed over 10 Indian patents, published copyrights, and is an editor of technical books with renowned publishers like IEEE Wiley, Elsevier, Taylor and Francis, De Gruyter and APress. As a keen researcher, she has published 25+ research papers in SCI and Scopus Indexed international journals and conferences. In a span of 14 years, she has contributed voluntarily as a Reviewer and Technical Program Committee (TPC) member for reputed International Journals and IEEE Conferences and has presented her work at IEEE Conferences across India and abroad. Her primary areas of interest include disruptive technologies like Artificial Intelligence, Machine Learning, Blockchain Technology and the Internet of Things meeting Sustainable Digital Goals in a global society.

Babita Singla, PhD, is an Associate Professor at Chitkara Business School, Chitkara University, Punjab, India. She spent a decade pursuing a career in academics, teaching, and research with passion and diligence. She worked as an Assistant Professor at the Institute of National Repute NIT Jalandhar. She completed an MBA program from RIMT-Mandi Gobindgarh, Punjab, India (2008–2010) in Finance and Marketing, and subsequently earned a Doctoral degree from IKGPTU, Jalandhar, India. She obtained undergraduate studies in Mathematics and Economics from Government Rajindra College, Bathinda.

Sanjay Taneja is an ICSSR fellow. He holds the degrees Ph.D. MBA (University Topper) and ADBM. He is currently working as an Associate Professor in USB-BBA, Chandigarh University, Mohali, Punjab (India). His research areas are Finance, Banking, and Insurance. He has published a dozen of articles in national and international journals (Scopus indexed/SCI indexed and UGC care listed), two textbooks and two edited books on areas like banking, social science and entrepreneurship. He has received the awards from Indian University ICFAI and GKU towards the contribution in teaching and research.

Samridhi Tanwar, PhD, is presently working as an Associate Professor at the Department of Management Studies, Indira Gandhi University, Meerpur, Rewari, Haryana, India. Her research interests include marketing communications, securities management, and employee retention. She has published in several reputed journals, presented papers in international conferences, and contributed to book chapters.

Dr. Taranjit Singh Vij is working as Associate Professor at Chandigarh group of colleges, Landran, Mohali Punjab in MBA Department. He earned his Doctorate in Business studies from School of Management Studies, Punjabi University Patiala. He has 13 years teaching experience, attended more than 14 conferences, summits and has 16 publications in Reputed International journals. He has memberships to reputed professional organizations. His areas of interest in research are Marketing, Consumer Behavior, Exports, IT & ITES. He has also been a Chairperson for a session at the International conference, a Keynote Speaker, Unit Assessor and an Internal Verifier for BTEC Pearson course in Business.

Serap Vurur has 18 years of teaching experience. At present, Vurur is working as an Associate Professor in Finance at the Faculty of Bolvadin Applied Sciences, University of Afyon Kocatepe, Turkey. Vurur presented more than 25 papers at various national and international conferences and published more than 20 research papers in various reputed journals. Five books with the titles financial system, economics, and cost stickness have been published.

Foreword – 1

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The role of Artificial Intelligence (AI), the Machine Learning (ML), usage of Chatbots and the emergence of Blockchain 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 8^th 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 been 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 have been very subjectively dealt with.

And that 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 with 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 to 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 to bring 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.