The document discusses how artificial intelligence is transforming the fintech industry by enabling faster decision-making, deeper learning about customer spending habits and needs, and predicting customer needs for different financial scenarios. The ultimate goal of AI in fintech is to provide customers with a single, seamless experience through one interface for all their financial needs. This will be achieved through intelligent automation, predictive decisions, personal finance management tools, and robo-advisory services that create an immersive banking experience. Trust remains the biggest challenge for fintech companies to address as AI capabilities advance.
4. Artificial Intelligence
Pursuing computing advances to create
intelligent machines that complement
human reasoning to augment and
enrich our experience and competencies
“What was true then and what is true now, is that we create
technology so that others can create more technology.”
Satya Nadella
5. How AI is transforming
the future of Fintech
Faster decision-making and deeper
learning (recognize predictors of financial
turbulence)
More intelligent about peoples spending
habits, health, lifestyles
Predict what people needs will be for
different scenarios of spending and
saving
Trust biggest challenge for Fintech
Smarter computers,
algorithms, big data and
dedicated AI systems
6. The ultimate goal is the
provision of a single
experience for customers
through one interface—a
seamless end-to-end
journey to the desired
customer outcome.
Intelligent Bank
Predicting what’s next for the customer seamlessly
Immersive Bank
Providing frictionless consistent customer experiences
Traditional Bank
Bank provides multiple channels
for trusted interactions with clients
Intelligent automation
API economy
Natural interaction BOTs
Predictive decisions
Personal finance
management
Robo-advisory
CRM
Social
Cloud
eCommerceAnalytics
Modern branches and
ATMs
Real-time marketing
Mobility
Payments
Deposits
Credits
Loans
Smarter computers, algorithms and dedicated AI systems.
Enabling Faster decision-making and deeper learning (recognizing, for example, predictors of financial turbulence)
Combination of big data and artificial intelligence
Becoming more intelligent about peoples spending habits, health, lifestyles
Predicting what people needs will be for different scenarios of spending and saving
Trust by consumers is the biggest challenges for Fintech
Key points:
We therefore believe the future of banking is agile, collaborative, ‘exposed’ and designed to encourage new business models – using ‘systems of intelligence’ in this transformation.
This slide represents the North Star for digital transformation—the ultimate ambition of one seamless journey through one interface to desired customer outcomes
This is an intelligent and connected ecosystem in which integration is the core component and where an API-enabled platform and marketplace is the key strategic consideration. And vitally, access to customer data drives higher level analytic and predictive services that create a competitive edge of intelligent customer insight and robo-advisory services.
Designing AI to be trustworthy requires creating solutions that reflect ethical principles that are deeply rooted in important and timeless values. As we’ve thought about it, we’ve focused on six principles that we believe should guide the development of AI. Specifically, AI systems should be fair, reliable and safe, private and secure, inclusive, transparent, and accountable. These principles are critical to addressing the societal impacts of AI and building trust as the technology becomes more and more a part of the products and services that people use at work and at home every day
Fairness: AI systems should treat all people fairly
Reliability: AI systems should perform reliably and safely
Privacy & Security: AI systems should be secure and respect privacy
Inclusiveness: AI systems should empower everyone and engage people
Transparency: AI systems should be understandable
Accountability: The people who design and deploy AI systems must be accountable for how their systems operate
