Chris Skinner believes that artificial intelligence (AI) is not a technology change but a cultural one.
In his blog, The Finanser, Chris shared his insights in relation to an article published by Financial Times on how AI will change the way we deal with money. Here’s an excerpt from the FT article:
If you are a customer of Chinese financial services group Ping An, you can use a new service allowing you to send the company photos of your [damaged] vehicle [after an accident] captured on your smartphone. Its computers will automatically assess the damage, cross-check records of your driving history and offer you a while-you-wait quote to settle the claim — bypassing the usual rigmarole …
and a some points that Chris makes in his commentary:
AI is useless without having data-driven leadership and decision making. It’s a cultural thing, not a technology thing.
“At most businesses that aren’t born digital, traditional mindsets and ways of working run counter to those needed for AI.”
I totally agree and it is the premise of my whole thinking: you have to rewire the company to leverage digital technologies, whether they be AI, Analytics, APIs, blockchain or any other. Take note.
Read more about it here.
Chris Skinner is best known as an independent commentator on the financial markets through his blog the Finanser. Here he regularly discusses key issues and opportunities in banking and financial services, summarising research, white papers and other analysis that is topical for the day. He is also the author of eight books covering everything from European regulations in banking through the credit crisis to the future of banking.
When he’s not travelling and delivering keynote speeches, Chris chairs the European networking forum the Financial Services Club, which he founded in 2004. The Financial Services Club is a network for financial professionals, and focuses on the future of financial services through the delivery of research, analysis, commentary and debate and has regular meetings in London, Edinburgh, Dublin and Vienna.
He is also Chief Executive of Balatro Ltd, a research company, and a co-founder of the website Shaping Tomorrow.
Chris regularly in various media including the BBC, Bloomberg and Sky News, and is a Judge on many awards programs including the Card Awards and the Asian Banker’s Retail Excellence Awards, as well as having worked = closely with leading banks such as HSBC, the Royal Bank of Scotland, Citibank and Société Générale, as well as the World Economic Forum.
Chris Skinner‘s speaking topics include:
- Branchless Banking and a Cashless Society: fact or fiction?
- Why banking will disappear but banks will not … well, not all of them
- Are Bankers Good or Bad for Society?
- Money is meaningless
- The similarities between banks and landmines