Paths for the development of financial intermediation in industry 5.0: Opportunities for developing economies (On the example of former USSR republics)

Karen Turyan

Article ID: 9569
Vol 8, Issue 13, 2024

VIEWS - 27 (Abstract) 16 (PDF)

Abstract


Currently, there is a unique situation in the global economy, industrial eras coexist together, there is interaction and transformation of financial systems simultaneously within the framework of Industry 4.0 and Industry 5.0. New, digital resources are entering the economy, intellectual capital is becoming virtual, artificial intelligence is increasingly finding its application in the structure of financial support. Financial intermediation in developing countries is also subject to global trends, the active development of new instruments for developing economies is especially important. The aim of the study is to identify effective ways to develop financial intermediation in Industry 5.0 for the economies of developing countries. Based on the results of the study on the development of financial institutions mediation revealed a problem related to the lack of reasonable tools that could be used to improving the efficiency of the financial intermediaries market, proposed the main directions of such a process: mobilization of savings, distribution financial assets, payment system, risk management and control over market agents involved in financial operations.


Keywords


industry 5.0; financial intermediation; digitalization; human-centrism; cyber-social approach; business ecosystem

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DOI: https://doi.org/10.24294/jipd9569

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