The financial sectors of Ghana and Kazakhstan: Comparative analysis of artificial intelligence adoption and implications

Alhassan T.F. Kalkabayeva G. Kurmanalina A.
2026 Lomonosov Moscow State University

BRICS Journal of Economics
2026 #7 Issue 1 155 - 175 pp.

The adoption and integration of artificial intelligence (AI) in Ghana’s and Kazakhstan’s financial sectors signifies a transformative change, driven by technological advancement and pursuit of greater efficiency, improved risk management and enhanced customer experience. The study provides a comparative analysis of AI adoption in developing countries, focusing on key areas such as banking, investment management, legal compliance and financial inclusion. AI adoption is gradually gaining attention in Ghana, where fintech start-ups and traditional banks are using AI for mobile banking, fraud detection, and credit scoring. However, challenges such as poor infrastructure, data security concerns and lack of a skilled workforce impede the widespread implementation of AI and its full realization. In contrast, Kazakhstan has made significant progress in adopting AI, driven by government initiatives, robust digital infrastructure, and growing fintech ecosystem. Financial institutions in Kazakhstan use AI for algorithmic trading, regulatory compliance and customer service automation, positioning the country as a regional leader in fintech innovation. Despite differences in the countries’ approaches to adopting AI, both economies face similar challenges, such as algorithmic bias, regulatory uncertainty and capacity-building needs. The present paper explains why tailored growth strategies are needed to address these issues. It highlights the importance of investment, public-private partnerships and legal frameworks in upskilling professionals and creating technological infrastructure. The two countries should develop roadmaps for AI-tailored growth policies in their financial sectors to ensure their effective adoption and implementation for financial development.

AI-based tools , AI-driven solutions , AI-powered innovations , Economic potential , Economic transformation , Financial inclusion , Financial sector , Fintech

Text of the article Перейти на текст статьи

Moscow Polytechnic University, Russian Federation
Karaganda Buketov University, Kazakhstan

Moscow Polytechnic University
Karaganda Buketov University

10 лет помогаем публиковать статьи Международный издатель

Книга Публикация научной статьи Волощук 2026 Book Publication of a scientific article 2026