The world around us has become increasingly digital in recent years, from the quick adoption of mobile phones to the emergence of the Internet and, more recently, social media and big data.

The paper reviews the digital transformation with AI and its effects on industrial revolution with shedding light largely on financial area and products, showing the new opportunities and related challenges.

The paper structured on examining Fintech and other financial innovations for practitioners and users, then we shed light on blockchain technology and industry 4.0 with a slight focus, in addition to exploring the impact of Fintech and financial innovations adoption on emerging economies by focusing on GDP and economic growth. Also we presented how financial institutions could handle such prominent innovations by certain scenarios and recommendations which may be beneficial for all parties involved. Lastly we discussed RegTech as intrinsic mechanism for hedging risks resulted from adoption of such transformation.