Presentation during Augmented Intelligence Mastery - virtual summit hosted by Squirro. Key trends in AI applications for Financial Services: from Robot Process Automation to Roboadvisors and AI-powered insights in Wealth Management.

1. AI AND AUGMENTED INTELLIGENCE
IN FINANCIAL SERVICES
Rudolf Falat
Photo by Adam Lukomski on Unsplash

2. 2
Agenda
Process Automation
Augmented Intelligence
General Intelligence

3. 3
About me
I am a senior Corporate Finance and Strategy professional
with a strong international profile and extensive experience
in the Financial Services
I led strategic M&A transactions for Credit Suisse and
Deutsche Bank worldwide for more than ten years
I am a FinTech and Tech enthusiast,
start-up mentor, adviser, business angel,
executive education coach at INSEAD
and podcaster

4. "When people think about cognitive technologies,
mainly they think about robots, devices, and
algorithms. When I think about cognitive technologies,
I think about the human being. About how cognitive
technologies can support us and can augment the
human brain.“
4
Amazing Voice of FinTech
podcast guests
Christine Ciriani
Finantix
Clara Durodie
Cognitive Finance Group
Dalith Steiger-Dablinger
SwissCognitive — The Global AI Hub
Dorian Selz
Squirro
David Bloch
Legartis
Evelyne Pflugi
Singularity Group
Pascal Allot
IBM
Michele Bezzi
SAP
Claudia Bolliger-Winkler
Lionstep

5. 5
Introduction
• AI has been experiencing revival in the last few years
• We had big hopes in the past, only followed by AI winters
• Will things turn out differently this time?
BACKGROUND
CURRENT STATUS
OUTLOOK
• Given the vast amount of data and increased computer
power, hopefully yes
• However, hyping up the term “AI” is unhelpful
• What we are dealing with is machine learning of varying
degrees of depth
• However, AI combined with human intuition and creativity, this can be immensely powerful
• Let’s have a look at the developments of AI applications in the Financial Services

6. 6
• For banks under ever increasing pressure,
focusing on low hanging fruits, automating
repetitive, simple tasks has been early focus
• Applications can be found in Compliance or
basic Customer Service chatbots
Business process automation technology
based on metaphorical software robots
RPA
Process automation
Photo by Phonlamai/iStock

7. 7
As Compliance costs are increasing and
banks are struggling to make their
legacy IT infrastructure appealing for
digital age, roboadvisors attracted lot
of attention
COMMODITY?COOL?
Roboadvisors
Photos by Ali Shah Lakhani on Unsplash and Graphic River

8. 8
Insights
WealthTech, leveraging AI, can play a
major role in identifying and delivering
personalized, relevant, actionable, timely,
individual service to the clients
Digital tools to support relationship
managers (client advisors) can make a
huge difference, especially in the
increasingly competitive environment
Photo by Arvin Mantilla on Unsplash

9. 9
A recently conducted survey found that 47 % of HNW
individuals stated they would like wealth managers to
prioritize digital innovation to improve client experience.
They believe that the personalized investment advice
they are getting now from their wealth managers is
generally poor.
“That means there is a great opportunity to use
WealthTech. Going digital is key to being able to engage
in servicing clients today.”
Christine (Mar) Ciriani, Finantix
Equip humans with
better tools

10. 10
Smart people
with smart
technology
Some fear jobs disappearing and a massive
displacement, but they don’t distinguish between
tasks and jobs
Similar technological and industrial changes
happened in the past and taken together, we all
benefited
"We simply talk about machine learning, general
artificial intelligence we see in the Hollywood movies is
nowhere near our generation.“
Dorian Selz, Squirro
Photo by Andy Kelly on Unsplash

11. 11
Key observations:
0102
03 04
Over promising
led to AI winters
in the past
Focus on bringing
solutions to the
business
Be clear about
limitations of
the technology
Imagine what
humans leveraging
AI can do together!
01 02
0403
Conclusion

12. 12
info@voiceoffintech.com
www.voiceoffintech.com
Zurich, Switzerland
voiceoffintech
OUR
CONTACT www.rudolffalat.com
Contacts

13. 13
THANK YOU
FOR YOUR ATTENTION