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Edited Book
Financial Literacy in the Age of Artificial Intelligence:
Connecting Knowledge, Practical Applications, and Sustainability
We invite academics, educators, policymakers, charitable organizations, and practitioners to contribute research findings, best practices, and applied case studies
Publisher
Publisher
Editors
Editors
Newcastle University, UK
Fatih Sultan Mehmet Vakif University, Türkiye
The purpose of this edited book is to provide a comprehensive, interdisciplinary exploration of financial literacy, highlighting its pivotal role in addressing modern global challenges. By examining the intersection of financial literacy with sustainability, education, technological advancements—particularly Artificial Intelligence (AI)—entrepreneurship, and philanthropy, the book demonstrates how financial knowledge is essential for personal financial well-being and broader societal and environmental sustainability.
AI serves as a recurring theme throughout the book, reflecting its transformative impact on various aspects of finance, including personal finance management, financial education, and fraud prevention. A dedicated section specifically focuses on the intersection of AI and financial fraud, investigating how technology is reshaping both the prevention and perpetration of financial crimes.
One of the book’s unique aspects is its focus on practical, often underexplored areas of financial literacy. These include the role of charitable organizations in fostering basic financial education, particularly in underserved communities, and how primitive or foundational financial literacy plays a critical role in poverty alleviation. The book also delves into specialized topics such as Islamic finance and behavioral finance, broadening the scope of financial literacy beyond traditional paradigms to include culturally diverse and ethically driven financial systems.
The book provides readers with the insights and tools necessary to navigate modern financial systems, fostering economic resilience, social equity, and sustainable growth across both developed and emerging economies. By addressing less frequently discussed topics alongside cutting-edge advancements in AI and finance, this work offers a holistic view of financial literacy as both a personal asset and a driver of positive societal transformation.
The Structure
Part I: Financial Literacy and Sustainability
This section will explore how financial literacy contributes to sustainability on both individual and societal levels. It will address the importance of understanding financial principles in making decisions that support long-term economic, environmental, and social sustainability.
Part II: Financial Literacy and Education
This section will examine the critical role of education in fostering financial literacy, exploring how schools, universities, and community programs can enhance financial knowledge. It will address both formal and informal methods of teaching financial literacy, emphasizing how educators, parents, and institutions can collaborate to build financial competence in children and young adults. Additionally, the section will explore how Artificial Intelligence (AI) can be effectively utilized to promote financial literacy, offering personalized learning experiences, interactive tools, and data-driven insights that make financial education more accessible and engaging. By leveraging AI, educators can better tailor financial literacy programs to meet the diverse needs of learners, ensuring that financial competence is developed in a way that is relevant, practical, and scalable.
Part III: Financial Literacy, Financial Fraud and Artificial Intelligence
This section will delve into the powerful intersection between financial fraud, artificial intelligence (AI), and financial literacy, offering a comprehensive look at how technology is reshaping both the prevention and perpetration of fraud in the digital age. With AI becoming a key tool for both detecting and executing fraudulent activities, the literacy gap—where individuals lack sufficient financial knowledge—has become a prime target for scammers. This section will examine how financial frauds often exploit those who are less financially literate, leading to significant financial losses.
Part IV: Charities and Financial Literacy
This section will examine the role of charities and non-profit organizations in promoting financial literacy, particularly for underserved populations. It will explore how these organizations contribute to financial education and empowerment, often filling gaps left by traditional educational and governmental institutions.
Editors' expertise and interests
Editors' expertise and interests
Newcastle University, UK
pascal.stiefenhofer@newcastle.ac.uk
Pascal Stiefenhofer is a mathematician (PhD) and economist (PhD) specializing in financial literacy, AI, and financial markets. He is a Senior Lecturer at Newcastle Business School, having previously served as Deputy Director of Education at the University of Exeter and held positions at UCL, the University of Sussex, and the University of York. He holds dual PhDs in Mathematics (Dynamical Systems Theory) and Economics (Differential Topology in Financial Markets). His research explores financial literacy’s role in economic decision-making, consumer behavior, and policy, with a focus on AI-driven solutions for financial education and sustainable finance. He collaborates with industry and government to integrate AI methodologies that enhance financial inclusion and ethical economic practices. Additionally, he has extensive experience in teaching mathematics and financial literacy, particularly to non-mathematicians, and supervises PhD students in AI, econometrics, and economic theory. Through his interdisciplinary expertise, Pascal bridges theoretical research with real-world applications, shaping discussions on financial literacy, AI, and sustainable finance.
Fatih Sultan Mehmet Vakif University, Türkiye
lgunduz@fsm.edu.tr
Dr. Lokman Gündüz graduated from Boğaziçi University with a degree in Political Science and International Relations in 1990. He earned both his M.A. and Ph.D. in Banking and Finance from Marmara University's Institute of Banking and Insurance. His career has included roles as a financial analyst at Ziraat Bank, a research fellow at Marmara University, a full-time lecturer at Beykent University, and a member of the Auditing Committee at Yapı Kredi Bank. From 2005 to 2017, Dr. Gündüz served on the Board of the Central Bank of the Republic of Türkiye (CBRT). During this period, he was also a board member of the risk management committee of the IILM, a CBRT subsidiary based in Kuala Lumpur. In 2017, he joined Istanbul Şehir University, where he served as Chair of the International Finance Department and Director of the Graduate School of Business. In 2021, he transitioned to Fatih Sultan Mehmet Vakif University (FSMVU) and became the founding dean of the Faculty of Economics and Administrative Sciences, a position he held until 2024. He is currently a full-time professor of finance in the Department of Management at FSMVU.
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