The role of artificial intelligence in enhancing financial inclusion: A review of its impact on financial services for the unbanked population in the United States

Financial inclusion, the strategy for assuring availability of accessible, affordable and reliable financial services, is critical for reducing poverty and fostering economic development globally. Despite progress, billions of people worldwide remain excluded from formal financial systems. Artificial Intelligence (AI) presents a transformative opportunity to bridge these exclusion gaps by offering innovative solutions that enhance the availability, affordability and the usability of financial services. Based on the existing research and literature review, the study examines the potential advantages, challenges, and ethical considerations associated with AI-driven financial services. This research also offers an overview of AI applications in financial services, exploring how advanced data driven methodologies such as machine learning, natural language processing, and predictive analytics are transforming the field of financial inclusion. The findings underscore AI's role in broadening access to financial services, improving financial literacy, and fostering inclusive economic growth. This research contributes to both theoretical understanding and practical applications, offering insights for policymakers, financial institutions, and fintech innovators to understand and advance inclusive financial systems globally.