Accenture reported the introduction of artificial intelligence could increase labor productivity by 40% by 2035. Financial institutions such as the Royal Bank of Scotland have begun replacing human employees with automated services.<\/p>\n
However, citizens are fearful of what the future means for AI. Technology was once a scary (i.e. Y2K) and foreign idea, and it took time for people to develop trust. Similar to technology, it will take time for people to adopt to and trust AI, but it could take even longer due to its negative media portals.<\/p>\n
Like it or not, companies have already begun developing AI-powered digital assistants to infiltrate in our lives, starting with financial services. Telefonica is developing an AI to help users manage their digital experiences. It will integrate with Amazon Echo and Microsoft\u2019s HoloLens to help users manage their financial accounts, make payments, and exchange currencies.<\/p>\n
Current fintech disrupt traditional financial institutions and make banking simpler, and AI is the next disruption. AI has the power to deliver a streamlined method of banking, decrease labor costs, reduce potential risks, and increase revenues. Customers will no longer need to have human interactions with bank employees and customer service, but will that really be missed?<\/p>\n
Reference: https:\/\/www.forbes.com\/sites\/madhvimavadiya\/2017\/02\/27\/artificial-intelligence-human-fintech\/#4e72e4ba46a1<\/p>\n","protected":false},"excerpt":{"rendered":"
Accenture reported the introduction of artificial intelligence could increase labor productivity by 40% by 2035. Financial institutions such as the Royal Bank of Scotland have begun replacing human employees with automated services. However, citizens are fearful of what the future means for AI. Technology was once a scary (i.e. Y2K) and foreign idea, and it … Continue reading Artificial Intelligence: Removing The Human From Fintech<\/span><\/a><\/p>\n","protected":false},"author":1032,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1377","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"yzhu","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/yzhu\/"},"qubely_comment":0,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"Accenture reported the introduction of artificial intelligence could increase labor productivity by 40% by 2035. Financial institutions such as the Royal Bank of Scotland have begun replacing human employees with automated services. However, citizens are fearful of what the future means for AI. Technology was once a scary (i.e. Y2K) and foreign idea, and it…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1032"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1377"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1377\/revisions"}],"predecessor-version":[{"id":1378,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1377\/revisions\/1378"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}