Table 6

Methodologies utilized in AI and bias banking and finance research

Research type and methodFrequencyExemplary articles
Conceptual7Hasan et al. (2022) 
Review1Cao and Zhang (2025) 
Qualitative
  • Interviews

6Li and Goel (2025) 
  • Ethnographic analysis

2Millo et al. (2024) 
  • Secondary source analysis (website content, reports, news, articles)

2Diniz et al. (2024) 
  • Hypothetical situation analysis

1Yardi (2024) 
Quantitative
  • SEM, PLS-SEM

7Liu et al. (2024), Bin-Nashwan et al. (2025) 
  • ANOVA

2Liu et al. (2024) 
  • Regression techniques (binary logistic, OLS, classification of regression trees, linear mixed-effects, linear probability, logistic, panel, Poisson, penalized, univariate quantile, bivariate probit)

38Packin and Lev-Aretz (2024), Amaral et al. (2023), Tubadji et al. (2021) 
  • T-test

3Peng et al. (2022) 
  • Machine learning and AI-based predictive models (artificial neural network, support vector machine, decision tree, random forest, gradient boosting methods, causal forest, k-prototype clustering, ML dimensionality reduction, anomaly detection techniques, reject inference, object selection algorithm, LDA)

36Chomczyk Penedo and Trigo Kramcsak (2023), Carbó-Valverde et al. (2025), Schultz and Fabozzi (2022) 
  • Structural and interpretive modeling (integrated statistical method, interpretive structural modeling, MICMAC, latent analysis)

5Bhatia et al. (2020) 
  • Numerical experiment

3Zhang et al. (2022) 
  • Counterfactual analysis

1Chen et al. (2023) 
  • Difference-in-differences (DID) strategy

1Li et al. (2024) 
  • Randomized controlled trials

1Nguyen (2024) 
  • Reciprocal hazard rate models (RHRMs)

1Momtaz (2021) 
  • Reinforcement learning

1Eilers et al. (2014) 

Note(s): Total frequency exceeds the total number of articles (65) since certain articles apply more than one method

Source(s): Created by author

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