The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.
Explainable AI for Regulatory Compliance in Financial and Healthcare Sectors: A comprehensive review
Open accessAbstract
Artificial intelligence (AI) is rapidly transforming the financial and healthcare sectors, offering innovative solutions for tasks like fraud detection, credit scoring, diagnostics, and treatment planning. The use of AI in these sectors is increasing, driven by the need for automation, improved decision-making, and enhanced efficiency. However, the "black-box" nature of many AI models poses challenges for regulatory compliance. Regulations such as GDPR's "Right to Explanation" and the FDA's AI/ML guidelines demand transparency and accountability in AI systems. Explainable AI (XAI) addresses this challenge by providing insights into the decisionmaking processes of AI models, enabling stakeholders to understand, trust, and effectively govern these technologies. This review article explores the role of XAI in achieving regulatory compliance within the financial and healthcare sectors. We examine key XAI methods, including SHAP (SHapley Additive exPlanations), LIME (Local Interpretable Model-agnostic Explanations), and counterfactual explanations, and discuss their applications in real-world scenarios. We analyze case studies, regulatory perspectives, and the challenges and future trends of XAI in ensuring responsible and compliant AI adoption
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Citations
Cites
Peeking Inside the Black-Box: A Survey on Explainable Artificial Intelligence (XAI)
Adadi, A., & Berrada, M. (2018) · IEEE Access · doi:10.1109/access.2018.2870052 · Cited by 6,294
Explainable AI for Healthcare 5.0: Opportunities and Challenges
Saraswat, D., Bhattacharya, P., Verma, A., Prasad, V. K., Tanwar, S., Sharma, G., Bokoro, P. N., & Sharma, R. (2022) · IEEE Access · doi:10.1109/access.2022.3197671 · Cited by 609
A Review of Explainable Artificial Intelligence in Healthcare
Sadeghi, Z., Alizadehsani, R., CIFCI, M. A., Kausar, S., Rehman, R., Mahanta, P., Bora, P. K., Almasri, A., Alkhawaldeh, R. S., Hussain, S., et al. (2024) · Computers and Electrical Engineering · doi:10.1016/j.compeleceng.2024.109370 · Cited by 598
A Review of Trustworthy and Explainable Artificial Intelligence (XAI)
Chamola, V., Hassija, V., Sulthana, A. R., Ghosh, D., Dhingra, D., & Sikdar, B. (2023) · IEEE Access · doi:10.1109/access.2023.3294569 · Cited by 352
A literature review on applications of explainable artificial intelligence (XAI)
Kalasampath, K., Spoorthi, K. N., Sajeev, S., Kuppa, S. S., Ajay, K., & Maruthamuthu, A. (2025) · IEEE Access · doi:10.1109/access.2025.3546681 · Cited by 180
The Past, Present, and Prospective Future of XAI: A Comprehensive Review
Islam, M. U., Mottalib, M. M., Hassan, M., Alam, Z. I., Zobaed, S., & Rabby, M. F. (2022) · Studies in computational intelligence · doi:10.1007/978-3-030-96630-0_1 · Cited by 36
A Comprehensive Review on Financial Explainable AIPreprint
Yeo, W. J., van der Heever, W., Mao, R., et al. (2023) · RePEc: Research Papers in Economics · doi:10.48550/arxiv.2309.11960 · Cited by 20
Ahuja, A., Wairagade, A., & Gupta, N. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5160312 · Cited by 1
Self-citation
Research works printed but not linked: 1
- Gupta, N. (2025). Privacy-Preserving Generative AI Techniques in Smart Home Appliances: A Comprehensive Review.11. https://ijirt.org/publishedpaper/IJIRT1731 83_PAPER.pdf
Cited by
Sorted by citations
Explainable Agentic Artificial Intelligence in Healthcare: A Scoping Review
Collaco, B. G., Prabha, S., Gomez-Cabello, C. A., Haider, S. A., Genovese, A., Wood, N. G., Gopala, N., Raman, R., Hester, E. O., & Forte, A. J. (2026) · Bioengineering · doi:10.3390/bioengineering13050513 · Cited by 3
Metadata
- Authors
- Gupta, N.
- Affiliations
- Indian Institute of Technology Bombay (IN)
- Corresponding author
- Gupta, Nikhil
- Venue
- International Journal of Advances in Engineering and Management
- Publisher
- Quest Journals
- Published
- 2025-03
- Volume
- 7
- Issue
- 3
- Pages
- 489-494
- ISSN
- 2395-5252 (ISSN-L)
- OpenAlex
- W4408771031
- Cited by
- 6
- References
- 8
- Citations by year
- 2026: 4 · 2025: 2
- FWCI
- 2.42
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- International Journal of Advances in Engineering and Management (publishedVersion)
- Topics
- Physical Sciences › Computer Science › Artificial Intelligence › Explainable Artificial Intelligence (XAI)
- Physical Sciences › Computer Science › Artificial Intelligence › Ethics and Social Impacts of AI
- Physical Sciences › Engineering › Safety, Risk, Reliability and Quality › Safety Systems Engineering in Autonomy
- Keywords
- explainable AI, regulatory compliance, financial services, health sector, black-box models, model transparency, accountability, SHAP, lime, counterfactual explanations, AI governance, responsible AI adoption, fraud detection, credit scoring, medical diagnostics
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