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🚀 Unveiling the Future: Top 10 Emerging Technologies of 2024 by the World Economic Forum! 🚀 Today, the World Economic Forum released its much-anticipated Top 10 Emerging Technologies of 2024 report, spotlighting innovations set to revolutionize industries and societies over the next few years. But what does this mean for financial services? Let's dive in!  🔍 𝗪𝗵𝗮𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝗠𝗼𝘀𝘁 𝘁𝗼 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀: 1. 𝐀𝐈 𝐟𝐨𝐫 𝐒𝐜𝐢𝐞𝐧𝐭𝐢𝐟𝐢𝐜 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫𝐲: AI is not just for tech giants anymore. Financial institutions can leverage AI to enhance data analysis, risk management, and customer service, driving efficiency and INNOVATION. A few banks have already set up their AI factory to leverage this GPT beyond just efficiencies. This is how AI-native businesses will be born. 2. 𝐏𝐫𝐢𝐯𝐚𝐜𝐲-𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬: With data breaches on the rise, privacy-enhancing technologies are crucial for safeguarding sensitive financial data, ensuring compliance, and building customer trust. 3. 𝐑𝐞𝐜𝐨𝐧𝐟𝐢𝐠𝐮𝐫𝐚𝐛𝐥𝐞 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐭 𝐒𝐮𝐫𝐟𝐚𝐜𝐞𝐬 (𝐑𝐈𝐒): These can optimize wireless communication, improve user experience, crucial for financial services that rely on real-time data transmission and secure transactions. Think mobile money and beyond. 4. 𝐇𝐢𝐠𝐡-𝐀𝐥𝐭𝐢𝐭𝐮𝐝𝐞 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐒𝐭𝐚𝐭𝐢𝐨𝐧𝐬: Enhancing connectivity in remote areas can open new markets and customer bases for financial services, promoting financial inclusion. Think of increased access but also Agritech and Climatech that are tied to Fintech. 5. 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐒𝐞𝐧𝐬𝐢𝐧𝐠 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐈𝐒𝐀𝐂): This technology can streamline operations, reduce costs, and improve the accuracy of financial transactions and monitoring systems. It has direct applications in enhancing security, operational efficiency, and data-driven decision-making. The other 5 Technologies are also connected and impact Financial services but I see them as having a second order effect for the next 3-5yrs.  Join the Conversation. I'd love to hear from you: - Do you agree with my selection of the WEF Tech picks that have a 1st order impact on financial services in the next 3-5 years? - If I had to pick ONLY ONE, I would pick Privacy-enhancing technologies as a priority. What would you pick? Drop your thoughts in the comments below! Let's shape the future together. 🌐💡 #innovation #technology #WEF #fintech #efiinsights #financialservices Link to the report in the comments ----- Order our new #Wiley book I have co-authored with the faculty of The Fast Future Executive, which is focused on Interconnections between advanced Technologies, socioeconomic and environmental trends: 𝐓𝐡𝐞 𝐅𝐚𝐬𝐭 𝐅𝐮𝐭𝐮𝐫𝐞 𝐁𝐥𝐮𝐫: 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐈𝐧𝐭𝐞𝐫𝐜𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 (link in the comments)

 🚀 Unveiling the Future: Top 10 Emerging Technologies of 2024 by the World Economic Forum! 🚀 Today, the World Economic Forum released its much-anticipated Top 10 Emerging Technologies of 2024  report, spotlighting innovations set to revolutionize industries and societies over the next few years. But what does this mean for financial services? Let's dive in!  🔍 𝗪𝗵𝗮𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝗠𝗼𝘀𝘁 𝘁𝗼 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀: 1.  𝐀𝐈 𝐟𝐨𝐫 𝐒𝐜𝐢𝐞𝐧𝐭𝐢𝐟𝐢𝐜 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫𝐲: AI is not just for tech giants anymore. Financial institutions can leverage AI to enhance data analysis, risk management, and customer service, driving efficiency and INNOVATION. A few banks have already set up their AI factory to leverage this GPT beyond just efficiencies. This is how AI-native businesses will be born. 2.  𝐏𝐫𝐢𝐯𝐚𝐜𝐲-𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬: With data breaches on the rise, privacy-enhancing technologies are crucial for safeguarding sensitive financial data, ensuring compliance, and building customer trust. 3.  𝐑𝐞𝐜𝐨𝐧𝐟𝐢𝐠𝐮𝐫𝐚𝐛𝐥𝐞 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐭 𝐒𝐮𝐫𝐟𝐚𝐜𝐞𝐬 (𝐑𝐈𝐒): These can optimize wireless communication, improve user experience, crucial for financial services that rely on real-time data transmission and secure transactions. Think mobile money and beyond. 4.  𝐇𝐢𝐠𝐡-𝐀𝐥𝐭𝐢𝐭𝐮𝐝𝐞 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐒𝐭𝐚𝐭𝐢𝐨𝐧𝐬: Enhancing connectivity in remote areas can open new markets and customer bases for financial services, promoting financial inclusion. Think of increased access but also Agritech and Climatech that are tied to Fintech. 5.  𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐒𝐞𝐧𝐬𝐢𝐧𝐠 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐈𝐒𝐀𝐂): This technology can streamline operations, reduce costs, and improve the accuracy of financial transactions and monitoring systems. It has direct applications in enhancing security, operational efficiency, and data-driven decision-making. The other 5 Technologies are also connected and impact Financial services but I see them as having a second order effect for the next 3-5yrs.  Join the Conversation. I'd love to hear from you: -  Do you agree with my selection of the WEF Tech picks that have a 1st order impact on financial services in the next 3-5 years? -  If I had to pick ONLY ONE, I would pick Privacy-enhancing technologies as a priority. What would you pick? Drop your thoughts in the comments below! Let's shape the future together. 🌐💡 #innovation #technology #WEF #fintech #efiinsights #financialservices Link to the report in the comments ----- Order our new #Wiley book I have co-authored with the faculty of The Fast Future Executive, which is focused on Interconnections between advanced Technologies, socioeconomic and environmental trends: 𝐓𝐡𝐞 𝐅𝐚𝐬𝐭 𝐅𝐮𝐭𝐮𝐫𝐞 𝐁𝐥𝐮𝐫: 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐈𝐧𝐭𝐞𝐫𝐜𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 (link in the comments)

The upcoming Point Zero Forum is centered on real-world issues, and grounded in extensive research. With the goal of driving tangible progress in policy, tech, and finance, we have released these 2 primers to guide the Forum discussions: 1) 𝐏𝐫𝐢𝐦𝐞𝐫 𝐨𝐧 𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞: 𝐆𝐨𝐯𝐞𝐫𝐧𝐢𝐧𝐠 𝐒𝐞𝐥𝐟-𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 GenAI could boost global GDP by USD 6.1 - 7.9 trillion, with Banking potentially seeing a revenue increase of USD 200-340 billion. At the forum, we'll focus on two key aspects to unlock this potential: - Establishing responsible AI and Quantum Computing guidelines - Providing blueprints for widespread AI implementation in FSIs 2) 𝐏𝐫𝐢𝐦𝐞𝐫 𝐨𝐧 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐨𝐧𝐞𝐲: 𝐏𝐚𝐭𝐡𝐰𝐚𝐲𝐬 𝐭𝐨 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐚𝐭 𝐒𝐜𝐚𝐥𝐞 In our hyper-connected world, cross-border remittance costs are high, averaging over 6% and spiking to 52% in some regions. As the G20 emphasises faster, cheaper, and more transparent payments, there's a drive to incorporate features like programmability and tokenisation into digital money. What's next, and how will players shape an open and interoperable infrastructure? Download the primers here: https://hubs.ly/Q02rWSJT0

Michael Cembalest's latest piece summarizes a presentation he made last week to the firm's tech CEO clients titled "The Good, the Bad and the Ugly: an investor's lens on tech valuations, AI, energy and the US presidential election". 3 sections of the piece that stood out: > "The good: equity markets are applying higher multiples to AI suppliers than to AI beneficiaries; while there’s some valuation excess, markets are not (yet) pricing in the full potential impact of commercial AI adoption." > "The good: The first image below shows the insanely complex shape of a certain DNA replication enzyme in green, and how AI can be used to predict its shape (blue). Scientists need to know the shape of enzymes and other proteins to enhance or destroy them (e.g., the SARS-Cov-2 spike protein). It used to take years and millions of dollars for MRI and x-ray crystallography analysis to reveal the true shape of proteins; as of 2021, only 20% were mapped. Now Google’s AI-driven AlphaFold program can get the job done in hours and at minimal cost. Today, 99% of proteins are now mapped according to the Institute for Cancer Research." > "I also talked about AI’s reliance on Taiwan in what is arguably the most concentrated supply chain risk in the history of global commerce. The bad: if you thought that Europe’s exposure to Russian energy before 2022 was bad, it pales in comparison to the world’s reliance on Taiwan for semiconductors, and in particular, advanced semiconductors. The AI industry may have to eventually accelerate production of advanced chips outside of Taiwan, which will be very costly, energy-intensive and time-consuming." 

COOs are continuing to pursue tech effectiveness amid election uncertainty, with AI remaining a focus area to help drive transformation. PwC’s latest survey takes a deep dive into how leaders are investing in the emerging technology. https://pwc.to/409Hb34

Navigating the Future: Ten Tech Trends for 2024: The below is a short summary of my recent top ten technology trends for 2024 forecast. As a strategic futurist, I immerse myself in emerging technologies, examining their potential to […] The post Navigating the Future: Ten Tech Trends for 2024 appeared first on Datafloq. #DataScince #ArtificialIntelligence #MachineLearning

Earlier this week, I had the privilege of participating in Bloomberg Invest, which brings together the biggest names in finance, economics and investing. I joined an incredible lineup of thought leaders and industry experts to discuss key transformation strategies across industries.   During the chat with Ken West and Debika Bhattacharya, moderated by Norah Mulinda, I talked about how emerging technologies have the power to change the way we work today and service customers going forward.   -AI as a CEO-led initiative has the power to create a cultural change in which all levels of the company participate.  -Emerging tech work best as a force multiplier to an existing strategy, versus a strategy on its own.  -Must have a clear path to value, that focuses on end-to-end capabilities versus individual solutions. -All while creating optionality to adapt to the evolving environment.    The dialogue around transformation strategies is vital as we continue to navigate this rapidly changing landscape. Together, we can drive positive change to shape the future of our industry. #AllTogetherPossible #BloombergInvest #Innovation #Tech #Transformation #AI Watch our full talk here: https://lnkd.in/eXGZsgv9

Our survey shows that more than 60% of business leaders think that decentralised finance and digital assets are beneficial, but these financial technologies are also a subject of much debate. The rise of artificial intelligence will also have a profound impact on digitisation Roel Louwhoff Standard Chartered https://lnkd.in/e2DyvNnq

Here are some of the risks of falling behind in technology against the need for a prudent approach to innovation.

Visualizing the Major Events of 2023 Looking back at 2023, the year was defined by various international geopolitical events while the tech and business world kept a close eye on artificial intelligence’s advances in the first full year of the technology hitting its stride. This graphic from our upcoming 2024 Global Forecast Report looks back at the major events that dominated the headlines and captured the world’s attention in 2023. From the AI tech boom to the various hot and cold conflicts around the world, many of this past year’s pivotal events will have continuing aftershocks and developments to track in 2024.