- With the newfound ability to order food, order a ride, or utilize online banking all through different apps on a cell phone, the hospitality and food services, transportation, and financial services are some of the main sectors of business impacted so far.
- LinkedIn Senior Financial editor Walden Siew says automation is altering the landscape of the financial services industry for the long haul.
- Siew says that according to a recent LinkedIn survey, “One in three retail bankers were concerned about automation displacing their jobs or aspects of their jobs, while the ratio was about one in four for the wider financial services professionals.”
- “We’ll see more traditional banks such as JPMorgan and Goldman Sachs hire digital bankers to build startup units like Marcus within the mother ship to offer alternative financial services to reach non-traditional clients” Siew said.
- The study reported that, “Financial advisors/wealth managers lead the charge on thinking that there will always be demand for traditional financial services, whereas interest in fintech will rise and fall (43% compared to 29% overall).”
As technology continues to advance and change the way we complete daily tasks, robots have begun to threaten job security across myriad industries.
Continue reading “Are Robots on track to become your banker?”
- These new players are particularly suitable as partners for banks as they have potential as a delivery system for continued quality and innovation.
- We can use AI to identify patterns in consumer behavior, which will enable the financial industry to work faster and better.
- That being said, if banks want to remain relevant they need to—just like any other organisation in a competitive environment— listen and take notice of market demand.
- Ultimately banks are at the center of the financial services industry.
- Alongside these relationships, there is also value for banks in seeking cooperation with tech suppliers or transactionally driven organisations that are relevant for the consumer.
What does the future look like? Financial services centered around quality and collaboration where the client comes first.
Continue reading “Beyond banking”
- But the transformational nature of artificial intelligence requires new metrics of success for our profession.
- This year alone at least 1 billion people will be touched in some way by artificial intelligence, which is transforming everything from financial services to transportation, energy, education and retail.
- And why IBM is a founding member of the Partnership on AI, a collaboration among Google, Amazon, Facebook, Microsoft, Apple and many scientific and nonprofit organizations charged with guiding the development of artificial intelligence to the benefit of society.
- Opportunity: Developers of AI applications should accept the responsibility of enabling students, workers and citizens to take advantage of every opportunity in the new economy powered by cognitive systems.
- They should help them acquire the skills and knowledge to engage safely, securely and effectively in a relationship with cognitive systems, and to perform the new kinds of work and jobs that will emerge in a cognitive economy.
By Guru Banavar, IBM’s Chief Science Officer for Cognitive Computing
I am a computer scientist and engineer, inspired by the art of the possible an…
Continue reading “The Science of AI and the Art of Social Responsibility”
- The best Star Trek episodes you should be watching on Netflix
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- The reasons why could reveal clues about alien life
- Watch the official music video of David Brent’s Lady Gypsy
- Watch a frantic timelapse of the 2,526-piece LEGO Batcave being built
Read the full article, click here.
@BigCloudTeam: “The next Industrial #Revolution is coming – and it will be fuelled by #AI”
Alexander Graubner-Müller, who cofounded Kreditech in 2012, called algorithms the “building blocks for the next Industrial Revolution”
The next Industrial Revolution is coming – and it will be fuelled by AI