This article was published in American Banker Disruption is from AI, not FinTech It is surprising how much ink is spilled on theories that banking is about to be wiped out by a tsunami called FinTech, resulting in the alleged mass closure of banks and unemployment of financial services professionals. Last time I was in ...
MIT has released a fascinating report on AI in Asia that is worth a read. Banks see AI as destructive According to the Report, the financial services industry in Asia is pessimistic about the future of AI, while all other industries see AI as a positive influence. The financial services sector felt that automation would destroy value. Industries in Asia, except banking, believe that ...
The Office of the President of the US has released its first report on AI called “Preparing for the Future of Artificial Intelligence.” It’s a disappointing report in the aspect that it lists a current state of AI, not a future state. Here is our summary of it, with our thoughts. Medical AI One of ...
Market value of $153 billion The artificial intelligence and robotics market was worth US$10.7 billion in 2014 and is expected to be worth US$153 billion by 2020 and to have a disruptive impact of between US$14 to US$33 trillion. The component for artificial intelligence alone (without robotics) is worth US$70 billion. Artificial intelligence is expected to ...
Financial inclusion still problematic with AI It’s long been assumed that technology will help the financially underserved access the banking services they need. In this interview with American Banker, the founder, Christine Duhaime, of the Digital Financial Institute, says this assumption is wrong, and that some tech advances are already starting to have unanticipated adverse effects on the financially ...
