Words and phrases such as “disruption”, “revolutionizing” and “digital transformation” have become so commonplace in the context of financial services that they have lost their impact. Impact, however, is exactly where we are heading with emerging technologies. These technologies – such as artificial intelligence (AI), the Internet of Things (IoT), 5G, and quantum computing – are beginning to form powerful clusters that are collectively reshaping financial services, bringing new opportunities to firms and consumers alike.
By combining several of the technologies from clusters one, two and three, responsible automation can be achieved, allowing for seamless transactions for routine activities. This can lead to new revenue channels for both financial services firms and outside industries providing related products and services, while customers will enjoy a streamlined experience.
Read the full article at World Economic Forum