Artificial intelligence is changing the world in unprecedented ways and redefining all areas of human activity. In recent decades, the development of AI has progressed at an extraordinary pace. This study examines the scope of implementing AI in the financial sector, insurance, and financial controlling. The research team focuses on these areas, as the main objective of this review is to provide a comprehensive walk-through and to fill the gaps in the literature related to AI implementation in finance, insurance, and financial control from an economic perspective. We provide a comprehensive overview of AI implementation in finance, insurance, and financial controlling, highlighting crucial issues in that process and identifying the relationship between the development of these economic sectors and AI. The authors’ team identifies the trends and main themes in the existing literature in AI-related publications in finance, insurance, and financial control. We discuss the main advantages and disadvantages of AI implementation, identified by our research, and also make some suggestions regarding future research having in mind the interdisciplinary of the topic, the vast development of AI and technologies, and the increasing demand for AI-based solutions, services and products.

This paper discusses the application of digital information management tools in the context of financial control. In Bulgaria, such research is innovative as it is the first time that digital transformation in crucial financial control institutions, which influence the formation of the revenue part of the state budget and the spending of public funds, has been studied. The study aims to answer the research question of to what extent the application of digital tools in financial control improves its effectiveness. It analyses how modern technologies improve the efficiency and accuracy of information used in financial control institutions. The authors examine the impact of digital tools, such as database management systems, business analytics platforms, and electronic document management tools, on collecting, analyzing, and managing financial and non-financial information. The study uses descriptive statistics and a correlation analysis, which significantly contributes to establishing the relationship between implemented digital tools and improvements in financial control procedures. The results show that despite the conditions created for digitalization in financial control institutions, digital tools are used to a limited extent in the information management process. The study emphasizes the need for continuous investment in digital technologies and training to maximize the benefits of their application in financial control.

The paper discusses digitising the leading information flows in control activities. The focus is on applying technology and its integration in implementing forms of control. The aim is to argue for practical approaches to minimise information risk in pre-ongoing and post-control to ensure the accuracy and veracity of financial and non-financial information. Evaluating the effectiveness of data ensures integrity, consistency, validity, completeness and timeliness - applying digital risk assessment tools to control activities. To prove the hypotheses, the cross-tabulation method is applied, focusing on the relationship between the use of verification, inspection, audit, revision and supervision, and the digital tools applied in the control institutions implementing financial control in the public sector of the Republic of Bulgaria. The study evaluates the effectiveness of data management practices, emphasizing the importance of maintaining integrity, consistency, validity, completeness, and timeliness. The study acknowledges that the use of advanced digital risk assessment tools could improve the effectiveness of control activities in various areas. The approach supports the sustainability of financial control and is in line with modern management standards, promoting a culture of accountability and precision in the management of public finances.

Objective: This study aims to investigate the consequences and boundaries of technological innovation's influence on financial literacy in the context of the COVID-19 pandemic. Theoretical Framework: The research investigates the nature of financial literacy and digital financial literacy and its relation to sustainability. Additionally, interrelations between digital financial literacy and Artificial Intelligence and the way COVID promotes digital financial literacy improvement are presented. Method: The research methodology is based on content analysis, comparative analysis and impact analysis. The data collection was carried out through a survey. The survey was carried out using the method of the respondents and the selection included all voluntary respondents. The survey was conducted in an online environment using Google Workspace tools, in particular Google Forms, and was self-administered by the authors. Results and Discussion: The results revealed a positive attitude of users towards digital technologies in the conditions of a pandemic crisis and this inevitably leads to an increase in financial literacy. These results highlight the role of digital financial literacy and technology in achieving better financial behaviour and resilience during the pandemic. They also show the limitations of their effectiveness in certain aspects, such as the formation of financial attitudes. Research Implications: The operational and conceptual consequences of the study are examined, presenting perspectives on how outcomes might be implemented or influenced by methods employed in financial literacy development. These ramifications could include AI adoption, digital culture improvement, and so forth. Originality/Value: This study contributes to the literature by examining the relationship between financial literacy and artificial intelligence in the context of the COVID-19 epidemic. The fast adoption of artificial intelligence and the necessity for increased financial literacy demonstrate the relevance and significance of this research.

The study of the fight against money laundering in Bulgaria takes on a heightened significance due to the country's unique geopolitical and economic context. As a member of the European Union and a key regional player, Bulgaria assumes a pivotal role in preventing cross-border crimes, including money laundering. The present study aims to analyze how modern technologies can bolster this crucial role, facilitating monitoring and analysis processes to enhance the effectiveness of audit and tax inspections in the country. The research applied practical methods involving digital tools and technological solutions such as artificial intelligence and machine learning. These tools were used to identify risk patterns and anomalies in transaction data, demonstrating their real-world application and effectiveness. They enable fast and accurate analysis of large volumes of data, which is particularly important in the context of sophisticated money laundering schemes. The results of the study underscore the potential benefits of technological innovation in the field of financial audits. With the aid of digital technologies, supervisory authorities in Bulgaria stand to significantly enhance their ability to detect financial abuses, including money laundering and tax evasion. In conclusion, the study reiterates the pressing need for further integration of modern technological solutions in the practices of audit and tax services in Bulgaria. This integration is crucial to ensure the effectiveness of control mechanisms and the country's ability to respond to current and future challenges in the fight against crimes in the financial sphere, underscoring the urgency of this matter.

The objective of this study was to ascertain the impact that the implementation of tax reforms has had on tax revenue in Azerbaijan from 2000 to 2022. An Autoregressive Distributed Lag (ARDL) dynamic model was developed to investigate the linkages between tax revenue and tax reforms. Within the framework of developing a new assessment approach, main features of tax reforms were defined and their significance was determined. The analysis incorporated both quantitative and qualitative variables, in particular the influences of technological development and the application of automated systems. The research results demonstrate that the implementation of tax reforms had both short-run and long-run effects on tax revenue in Azerbaijan. Indeed, both qualitative and quantitative variables have been shown to play a crucial role in increasing tax revenues. The findings indicate that tax revenue was positively influenced by the increases in the tax burden rate, the total number of concessions and exemptions, and the application of an automatic tax information system and message service. Conversely, the growing number of tax legislative changes has had an adverse effect. These findings will be of use to the decision-makers responsible for the adoption of national legislation and the drafting of strategy documents.