The document provides a summary of highlights from the Web Summit 2016 conference focusing on blockchain and fintech. The key points are: - Blockchain was a major topic of discussion, with banks facing the potential of becoming just vaults for money as technologies disrupt traditional financial systems. - The biggest current application of blockchain is bitcoin trading, but the "Facebook of blockchain" has yet to be invented to drive further mainstream adoption. - There are challenges around governance as the blockchain space is still nascent, and disruptive technologies often start by being worse than existing solutions before improving.

1. IN2MEDIA - 01.12.16
Highlights from Web Summit 2016

2. RASMUS NØRGAARD ABEL
Blockchain and the state of Fintech

3. • Blockchain is the talk of the town
• Banks face becoming nothing but vaults of money
• What else WebSummit had to offer
LESSONS LEARNED

22. • Biggest application of blockchain is the blockchain itself due to the
bitcoin trading
• Most disruptive technologies start off by being worse than what they
are replacing. Fintech is trying to replace regular databases with
blockchain in places that don’t need it.
• The Facebook of Blockchain is yet to be invented
WE HAVEN’T SEEN ANYTHING YET

23. “
Micah Winkelspecht, CEO Gem
“People have to stop thinking
about blockchain as fintech; it's
not fintech, it's about how do we
build a global computer.”

24. “
Chris Skinner, Author & financial commentator
“So, here’s the scenario in the very
near future: Your fridge is ordering
groceries from the supermarket,
your car auto-refuels as it self-
drives the highways and so on.”

25. “
Don Tapscott, Author, Blockchain Revolution
“The biggest problem has to do with governance.
This new community is in its infancy. The whole
world of blockchain is The Wild West.”

26. “
Don Tapscott, Author, Blockchain Revolution
“Maybe this technology is going to displace a lot
of humans from jobs. Maybe this whole new
platform is the ultimate job-killer.”

27. • AI is gonna eliminate a lot of manual labour
• The big firms have the same amount of employees that they did 10
years ago even though automation has increased a lot. They are just
rebalancing their workforce
• A third of Goldman Sachs 30.000 employees are engineers. They are
preparing for the future
• Emerging markets might not create the technology, but they might
need it the most
LARGE COMPANIES ARE RESTRUCTURING TO ACCOMMODATE THE NEW STATE OF PLAY

28. “
Don Tapscott, Author, Blockchain Revolution
“Imagine a world where foreign aid
didn’t get consumed in the
bureaucracy but went directly to the
beneficiary under a smart contract.”

31. “
Susanne Tarkowski Tempelhof, Founder Bitnation
“It works like a mini ‘web-of-trust’ where
family members have to verify being
each others family members through
private/public key cryptography.”

32. • 2nd quarter in 2016 dropped 45 % in fintech investments
• PropTech and RegTech are the new kids on the block
• InsureTech is also something new we’er gonna hear more about
INVESTMENTS IN FINTECH ARE STAGNATING AND NEW AREAS ARE BEING EXPLORED

34. • The question is what the roles of banks are gonna be in 5-10 years?
Holding firms?
• What happens when Amazon, Samsung, Google or Apple enters the
banking space. What happens then?
• Collaboration is the term banks use when they feel their losing
BANKS FACE BECOMING NOTHING MORE THAN VAULTS OF MONEY

38. “Your next honeymoon might be going to the moon”
- Naveen Jain, CEO Moon Express

39. • In the next two years, both BlueOrigin and SpaceX will take us to sub-
orbit. In 10-15 years, normal people can going to the moon
• The cost will in the long run fundamentally not be bigger than going
from LA to New York
• Go to the moon for the weekend to have fun
• Colonize the moon, which is a nice stepping stone for Mars.
• By 2050, have a settlement on Mars, discovered life in space and
found out more about our origins.
THE FUTURE OF SPACE TOURISM IS HERE

40. “What’s the Pokemon app of the moon gonna be like?”
- Naveen Jain, CEO Moon Express

41. JESPER ARVIDSON
AI, robots … & emotions

43. “
https://en.wikipedia.org/wiki/Artificial_intelligence
Every aspect of learning or any other feature of
intelligence can be so precisely described that a machine
can be made to simulate it.

47. What about ethics?
Try it for yourself - it is harder than
you think!
http://moralmachine.mit.edu

61. THE UNCANNY VALLEY

65. SAYGIN (2012)

77. MARTIN SVENDSEN
Hvordan ser dit job ud i fremtiden?

78. “
– The Guardian, Thursday 25 June 2015
Apple’s early-adopting, outspoken co-founder Steve
Wozniak thinks humans will be fine if robots take over
the world because we’ll just become their pets.

79. Apollo 11
Star Wars C64
Palm
Iphone
Atlas
Alpha Go
1969 1977
1982
1996
2007
2015
2016

80. Level 1
Level 2
Level 3
Level 4
Level 5
Human decision making
AI recommendation
AI decision - Human supervision
AI decision on routine tasks
AI decision

81. AGENDA
1
2
3
Hvad er det for en udvikling, vi ser?
Er det en reel trussel?
Hvad betyder det for fremtidens arbejdsmarked?

82. HVAD ER DET FOR EN UDVIKLING, VI SER?

83. “
– Martin Hoffman, COO of VolksWagen - The AI driven company
In 10 years, our office space will look like our production
line (in terms of automation).

86. “
– Rana el Kalibouby. Co-founder and CEO, Affective. “Farewell, The age of human
supremacy”
Emotions will play a role in designing the AI’s of the
future.

87. TWITTER LÆRTE MICROSOFTS AI CHAT BOT TAY AT VÆRE ET RACISTISK RØVHUL PÅ
MINDRE END 24 TIMER

88. TÆNK OVER DET NÆSTE GANG I OVERVEJER EN CHATBOT ELLER AI TIL KUNDESERVICE

89. Think of items as employees in the company of you
– Jim Hunter, Chief Scientist Greenware Systems. “Are smart homes overhyped and risky?”

90. SÅ! ER DETR EN REEL TRUSSEL MOD VORES JOBS?

91. “
– Prof. Andrew McAffee MIT - future of the worker
Projection is hard because AI is too stupid.

94. “
– William Webb, CEO, Weightless SIG
Getting them all to play ball is really difficult, and there
isn't a framework to make them do it.

96. “
– William Webb, CEO, Weightless SIG
Unfortunately you're seeing more of that on the bad guy
side itself, using AI techniques and machine learning to
make malware easier to use. AI and ML tools are
becoming part of a weapons set on both sides.

98. HVAD SKAL VI GØRE?

99. “
– Diane Greene, senior vice president of Google, speaks at the Code Enterprise conference
in San Francisco on November 15, 2016
Think it’s really incumbent on us to get the education out
there to make sure everyone is digitally literate, because
that’s where the divide is, and because if you’re digitally
literate, you’re going to have jobs

101. “
– Bishop Paul Tighe, Culture Secretary, The Vatican. “Preaching to the converted”
Technology will not create trust. We need to change
human hearts.

103. 1. Det kan komme til at tage længere tid, end vi tror. Der er meget
delte meninger om, hvor lang tid der kommer til at gå.
2. Arbejderen er ikke færdig, men skal have andre færdigheder.
3. Som mennesker bliver vi ansvarlige for maskinernes virke.
4. En digital grundlære og evne til at navigere i den digitale verden
er måske den vigtigste pointe at tage med hjem. Både for at
forstå området, mulighederne og ikke mindst at punktere hypen.
KONKLUSION

104. Tak for i dag