From human replacement to a top player in the next wave of tech developments and revolutions, artificial intelligence – AI – makes headlines mainly for two reasons: it’s considered dangerous, but also too useful.
In the meantime, it’s the right time for fintech firms and startups that want to thrive to bet on human capital.
It might seem a contradiction, but this sometimes happens with revolutions: stay tuned with FinTech Weekly, the website that allows you to discover fintech news, insights and fintech companies!
While tech giants increasingly invest in AI, there are also increasing concerns about how far it can go. One of the last interviews to Elon Musk doesn’t bode well for the future of humanity: he, along with researchers and other top CEOs, do not really know what would happen if AI becomes more intelligent than humans.
FinTech World Forum 2023 is based in London UK Europe as one of the leading fintech events 2023 for the global financial services, finance, and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech, and Wealthtech.
What is your branch doing to exceed their expectations and meet the needs of other generations as well? Future Branches is two days of action-packed stories, conversations and connections with the top minds in retail banking. We will explore how leading financial institutions are revamping retail banking technology, retooling front line associates, and creating the branch and retail banking experience of the future. You’ll get actionable strategies to provide personalized high touch experiences for today’s customers. This is THE meeting place to benchmark against the best of the best in financial services.
In the meantime in the UK, the attempts to become a fintech hub still don’t produce the expected results. The Deputy Chairman of the Policy Committee of the City of London, Chris Hayward, discusses the challenges faced, as well as fintech opportunities.
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Russia is finally totally benefiting from digital currencies to mitigate the effects of sanctions. Anton Siluanov, Russian Finance Minister, announced the launch of a new payment system where digital currencies will be totally unrestricted – also, obviously, for cross-border payments.
The European Payment Initiative (EPI), acquired Currence Ideal and Payconiq, but it now has to lower its ambitions. Born with the intention to allow instant payments in Europe, the initiative was realized by over 30 European banks that want to compete with top payment companies like Visa and Mastercard.
AI in finance: can artificial intelligence replace people in Wall Street? According to two studies, it looks like it is possible that ChatGPT – or similar models – can replace humans in finance.
With the surge of tech layoffs, there’s also a surge in opportunities for fintech companies and startups: they can now find tech talents, and choose them from a larger pool. Laid off talents have been looking for a new job for three months, on average, before finding a new role. Fintech companies should rethink their compensation strategies and consider that now, time is key.
Artificial intelligence, along with blockchain, was included in our list of the fintech trends for 2023. Discover how different technologies have already revolutionized finance and how they can continue to change the economic and financial system.