Explainable artificial intelligence in finance: A bibliometric review

Abstract

This study focuses on explainable artificial intelligence (XAI) in finance. We collected 2,733 articles published between 2013 and 2023 from the Web of Science Core Collection and analyzed trends in literature development and future prospects using an integrated CiteSpace and Natural Language Processing (NLP) bibliometric approach. Our analysis reveals an increase in publication after 2013. Early XAI research had a significant and lasting impact, shifting research focus from traditional finance research to inclusive finance. XAI has diversified financial capabilities, and non-XAI pursues interpretable solutions for improvement. We conclude with a list of prospective subjects for further study.