Artificial intelligence (AI) and the internet of things (IoT) have major impacts in a variety of fields which includes financial management. AI and IoT have been used in manufacturing industry, power optimization, teaching and training, agriculture, marketing, trading, and so on. Since they have impacts in many fields, here the authors mainly concentrate on the financial and business areas. AI makes jobs easier for all of us. In finance AI may protect customers from doing risky things. The main advantage of AI is to identify a valuable customer in order to offer loans. The Asian continent heavily relies on agriculture for its exports and country GDPs. The outcome of agriculture depends on land quality. If land is of a good character it can produce great output but if it does not it will really struggle to produce good results in terms of yield. Hence IoT and AI lead to an increase in the GDP of a country. They are jointly used to speed up the financial process and allow precise decisions to be taken. They also have a definite impact on online transactions.