Autonomous Finance: The Future of Banking
We are about to enter another banking dimension, a dimension not only of sight and sound, but of mind. A journey into a wondrous land of imagination. Next stop, the autonomous finance zone! Like autonomous vehicles, autonomous finance years ago seemed like an idea taken out of a sci-fi movie. However, as technology like artificial intelligence (AI) continues to advance to the “Theory of Mind” phase, where machines acquire true decision capabilities like humans, the ability to provide algorithm-driven services that make financial decisions on behalf of customers make this a not-too-distant reality. This dimension will not only enable customers to maximize their financial resources, better manage their money and achieve their financial goals, it will also benefit financial institutions that offer it. It will lead to better customer satisfaction, acquisition, growth and increased just-in-time personalized and digital engagements. This session will discuss how automation and the technologies (such as virtual reality, AI, holograms, etc.) behind it will provide an opportunity for customers and financial institutions to better maximize their resources without the need to rely on a single source of knowledge or access to a human.