The funny thing about AI in banking is that the headlines are completely wrong. Every week there’s another breathless prediction claiming that AI will “replace banks”, “eliminate core systems” or “create autonomous financial institutions”. Reading these articles, you would think that we are just months away from robo-banks running the global economy whilst human bankers…
What is a Sputnik moment? A Sputnik moment is the moment the world suddenly wakes up and realises someone else may have leapt ahead technologically. The phrase comes from 1957, when the Soviet Union launched Sputnik, the world’s first satellite, into space. Technically, it was just a metal sphere orbiting the Earth. Politically and psychologically,…
I spent the morning thinking about the bank of the future. It’s something I do every day. You could be simple and say that it’s embedded, invisible, everywhere, all the time. And that is true. But that is today’s bank, not tomorrows. I then have this debate about currencies. What currency do we believe in?…
BEAR IN MIND I AM NOT A FINANCIAL ADVISOR For the past three decades, investors have lived through an extraordinary illusion: the belief that globalisation makes the world safer. It doesn’t. It just made conflict more expensive. I always remember when the Iraq war began in the 1990s and my colleagues in the government defence…
This week’s blog discussions included … Everyone is lying to you about money I just discovered that Ben McKenzie is taking the cryptocurrency industry head-on. Many of you will remember Ben from The O.C. but he’s now a little bit more serious. In fact, he wrote a book: Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud. Oh!…
I gave a keynote this week about my new book called The Intelligent Bank, which is offically launching next week in China! Walking off stage afterwards I realised something quite important: we are no longer debating the future of banking. We are living through it. The problem is that many banks still think the conversation…
I just discovered that Ben McKenzie is taking the cryptocurrency industry head-on. Many of you will remember Ben from The O.C. but he’s now a little bit more serious. In fact, he wrote a book: Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud. Oh! That sounds a bit challenging, but why would an actor become an anti-crypto…
I’m not big on theology but did stumble across Mammon the other day and am surprised I didn’t know more about this ancient character. He appears in the Bible quite often, and Jesus makes clear that ‘you cannot serve both God and Mammon (Matt 6.24 as well as Luke 16.9, 11 and 13). Mammon promotes the ‘deceitfulness of wealth’…
