I remember a big debate in the 1990s about the future of finance. One of the main themes was whether we needed intermediaries. After a quarter of century, the answer is yes. We have intermediaries to provide trust between two people who don’t trust each other. The trusted intermediary’s role is key. The question is…
7 million households have no internet access according to the UK’s House of Lords’ Communications and Digital Committee (CDC) published, who its report at the end of June titled: Digital exclusion. Summarising their findings they say that the Government has “no credible strategy” to tackle digital exclusion. That’s a good start isn’t it? Statistics flagged…
Financial companies rely on streams of data and complex IT infrastructures, and operate in a constantly evolving regulatory environment, making them prime candidates for AI data-driven innovation. However, risks associated will need to be managed. Here are ten ideas as to where these developments will make a difference: Hyper-personalized marketing and customer experiences:By leveraging alternative…
In most presentations, I use this quote from Charles Darwin: It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Although he…
A new Pew Research report documents that, in 2021, 68% of 25-year-olds were living outside their parents’ home, 22% were married and 17% had a child, according to a Pew Research Centre analysis of the most recently available Census Bureau data. In 1980, 84% were living on their own, 63% were married and 39% had a child, the report said….
2023 is proving to be a punishing year for banks, finance, technology and fintech. Firms have seen massive downgrades of their market cap, and we have seen the demise of major companies ranging from Silicon Valley Bank, First Republic and Credit Suisse. Some say that this is a crisis. However, it seems more like a…
Some people may think McKinsey are a dark force, but their research is pretty good. In the latest white paper, they summarise what is happening with AI and GPT (Generative Pre-trained Transformer) and, with all the buzz around ChatGPT and BankGPT, the paper is worth sharing here. These are the key take-aways: Generative AI’s impact…
I’ve realised that my thoughts these days seem to focus mainly on artificial intelligence (AI), cryptocurrencies, the metaverse and space travel. That’s not surprising as that’s where Elon Musk, Jeff Bezos and Mark Zuckerberg are focused. These are the future technologies and capabilities that are inspiring our next generation. The question is: what if we…
We treat our world very simplistically, and yet we have made our world incredibly complex. When you think we can land a spacecraft on a meteor hurtling through space, it’s amazing what we have achieved. What makes this interesting is the way in which humans have created incredible infrastructures, supply chains and logistics on Earth…
