Digital Transformation in Banking: Making Progress and Hitting Roadblocks

#Digital Transformation in #Banking: Progress and Roadblocks

 

#fintech #CIO #AI #IT #tech

  • One third of banking executives participating in a study said that marketing owns the end-to-end customer relationship, but only 14% feel that marketing should own their institution’s digital strategy.
  • As financial institutions look at how best to adapt their current practices to meet the needs of customers across an expanding array of digital channels, banking executives look for insights to inform their digital transformation strategies.
  • With 87% of the financial institution respondents saying that technology is intrinsic to digital transformation and must be considered in tandem with strategy, it’s a natural fit for CIOs to lead the way in vetting and implementing the technical platforms and solutions that will form the backbone of an organization’s digital strategy.
  • Still, a financial organization that can establish a culture free of silos – and carry out effective digital transformation quickly and successfully – will certainly earn itself an effective competitive advantage and be able to deliver a differentiated level of customer experience.
  • By incorporating advice from other industry leaders and fostering a company culture ready to embrace cooperation alongside new technology, financial institutions can best execute the digital transformations necessary to keep pace and potentially stand out in their industry.

Two out of every five financial institutions say they are only in the infancy of their digital transformation strategy.
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Rise of artificial intelligence: learning to love machines

yes Yes YES
@Kasparov63, who knows a thing or two about being challenged by tech progress:

  • To use this website, cookies must be enabled in your browser.
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  • There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set.
  • This appears to be a defect in the browser which should be addressed soon.
  • The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

It was my blessing and my curse to be the world chess champion when computers finally reached a world championship level of play. When I resigned the final match game against the IBM supercomputer Deep Blue on May 11, 1997, I became the first world champion to be defeated in a classical match by a machine.
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Chatbots are revolutionizing customer support

Interesting article on how #ChatBot could revolutionize customer support. #AI #startup

  • Anything reducing the need for manpower in customer support is considered a good thing.
  • Above: Bots will help, not hinder, customer support in a company.
  • Although a chatbot can handle basic requests, some of your customers will want to talk to real people and will require complicated support to answer some of their more difficult questions.
  • Customer support is one the most resource-intensive departments in a company.
  • Chatbots are revolutionizing customer support

Customer support is one the most resource-intensive departments in a company. Staff spend their day answering queries, on the telephone with customers, communicating with other departments, and much more. It is also a part of the operation that is hard to link to an ROI.
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Google internet balloon uses AI to stay in place for weeks

Google internet balloon uses #AI to stay in place for weeks 

  #fintech @engadget @jonfingas

  • When Google first introduced Project Loon , its internet balloons used static algorithms to change altitude and stay in position.
  • Google internet balloon uses AI to stay in place for weeks
  • Cyanogen ditches its mobile OS in favor of a modular strategy
  • The AI-based upgrade should not only keep balloons in place for longer, but help Google trim costs and expand its reach.
  • GM: you won’t buy self-driving cars at dealerships for a while

When Google first introduced Project Loon, its internet balloons used static algorithms to change altitude and stay in position. While clever, they were limited…
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Blockchain Adoption Faster Than Expected

#Blockchain Adoption Faster Than Expected

#fintech #Bitcoin #IoT #AI #IBMWatson

  • Over 65 percent of the banks surveyed expect to deploy blockchains at scale within the next three years.
  • One area where blockchains are already seeing considerable use is in logistics, which is opening the way for blockchains to be used as a way to interact with and monitor Internet of Things devices.
  • , this year’s All Things Open conference has responded to interest in blockchains by adding a separate Blockchain track which will run during both days of the event, scheduled for October 26-27 in Raleigh, North Carolina.
  • Blockchains, the distributed database model behind cryptocurrency Bitcoin, continues to prove itself as the next big thing in the enterprise.
  • “With blockchain now moving into the enterprise and there being a significant ‘open’ component to it, it should be extremely well received,” conference chairperson Todd Lewis told Windows IT Pro.

A study released last week by IBM indicates that blockchain adoption by financial institutions is on the rise and beating expectations. This is good news for IBM, which is betting big on the database technology that was brought to prominence by Bitcoin. Yesterday, Big Blue announced that it has made its Watson-powered blockchain service available to enterprise customers.
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Google internet balloon uses AI to stay in place for weeks

Google internet balloon uses #AI to stay in place for weeks

  • Engadget giveaway: Win an EGG speaker system courtesy of KEF!
  • When Google first introduced Project Loon , its internet balloons used static algorithms to change altitude and stay in position.
  • Google internet balloon uses AI to stay in place for weeks
  • DJI’s Mavic Pro takes on GoPro’s Karma with smart features
  • The AI-based upgrade should not only keep balloons in place for longer, but help Google trim costs and expand its reach.

When Google first introduced Project Loon, its internet balloons used static algorithms to change altitude and stay in position. While clever, they were limited…
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The robot bodyguard is coming — and you’ll want one

The robot bodyguard is coming — and you’ll want one #robotics #security #AI

  • While you wouldn’t want an armed Terminator in your home, you might like a robot that travels with you and offers personal protection, like a bodyguard.
  • The four US Navy officers I spoke with recently agreed the future would be heavily dominated by robots – and that those robots could likely be made to protect people.
  • The age of near-total robot security protection will likely be in less than a decade.
  • The robot bodyguard is coming – and you’ll want one
  • Even in San Francisco, you can rent out robot guards to protect your businesses and property.

I recently consulted with the US Navy on all things “transhuman.” In those conversations about how science and technology can help the human race evolve beyond its natural limits, it was clear that military is keen on replacing human soldiers with both fighting and peacekeeping machines so American military lives never have to come under fire or be in harm’s way.
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