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Discover the Future of Finance: How AI is Revolutionizing Fintech in Australia! From robo-advisors to AI-powered security systems, discover how technology is reshaping banking and investments. Ready to embrace the future? Dive in now: https://lnkd.in/gvkMu4Wc #AI #Fintech #Australia #Innovation #futureof #CopperDigital

The global #fintech market remains a hotbed of #innovation and #growth, despite a sobering few years in funding and valuation terms. With the advent of game-changing #technologies such as #GenAI and with still billions of #unbanked and #underbanked individuals worldwide, fintech has vast potential. 💡Please read my article: "The impact of AI : Opportunities and Risks of Artificial Intelligence in Finance." https://lnkd.in/dnNrFMpN 📢The report of BGC Group is based on interviews with more than 60 global fintech #CEOs and #investors and on our joint experience in the fintech industry. 💡The report https://lnkd.in/dwNDRaZw Four Major Themes Shaping the Fintech Sector 📍#1. Embedded finance will be a $320 billion market by 2030 📍#2. Connected commerce is poised for liftoff. 📍#3. Open banking will have a modest impact on banking but a greater one on advertising. 📍#4. GenAI will be a game-changer now for productivity, with product innovation to follow

Banks continue to rewire for the Age of AI. Excellent innovation stemming from partnerships between Citi + Arteria AI + Numerated, RBC +TIFIN AG, and many others. From commercial lending to trend spotting, fraud detection to documentation, #AI / #ML use cases continue to accelerate. A recent Arizent research report reveals 61% of executives felt this tech wave is "evolving too quickly to keep pace with". Banks of course are acutely aware of the risks - hallucinations, bias, data privacy, and more - and are rightly exercising "extreme caution" before deployment across the #workplace. Yet, it's thrilling to witness the birth of next-gen, game-changing solutions. Huge congratulations to Arteria AI, Numerated, and other innovators fueling the #futureofwork! Read more in this insightful American Banker article:

Interesting article about how banks cannot afford to defer technology investments, even in a challenging 2024. I'd argue that it's not just banks that can't afford to wait on moving forward with technology investments, especially AI. Beyond dramatically improving operational efficiencies, there are a myriad of Generative AI use cases that augment + automate human work while delighting customers. Check the comments for some ASAPP use cases; reach out if you'd like to explore further :) "AI is at an inflection point where modest experimentation now prevents ceding significant ground later, as it becomes increasingly foundational across finance. Banks shouldn’t rewrite strategies around AI yet. But planned exposure can shape prudent deployment as opposed to reacting rashly once disruption strikes. And quantum computing disruption looms beyond AI." https://lnkd.in/gnDmDhFs

How do you think AI will change the way we bank? The fintech boom has reshaped the financial landscape. Between 2019 and 2023, the market capitalisation of fintech firms doubled to $550 billion. Now, the focus is shifting to sustainable value creation, with fintech revenues expected to grow three times faster than traditional banking from 2023 to 2028. Fintech firms are now integral to financial services, often collaborating with or competing against big banks. Their influence on global banking practices is immense. Challenges like high inflation and borrowing costs exist, but easing inflation in 2024 is expected to boost AI-driven fintech investments. Juniper Research predicts AI investments in banking will rise to $85 billion globally by 2030, up from $6 billion in 2024. Fintech has also driven financial inclusion, especially in developing countries, accelerated by the Covid-19 pandemic and increased mobile phone usage. In my opinion, the integration of AI in fintech is not just a trend but a fundamental shift that will redefine the entire financial services landscape. The way most of us bank will shift. Maybe not in ways we anticipate, but it will shift. How do you see AI and fintech shaping the future of financial services?

💲 "Financial services firms are at various stages of defining their vision for AI and what value AI can bring to their organization. In reality, most firms are still far from realizing significant commercial value from their AI investments. Singapore-based DBS Bank stands as a role model for these firms. After several years of strategic investment and hard work to develop deep data and AI capabilities, the bank is now harvesting the fruits of that labor." 💲 - Tom Mouhsian, Principal Analyst at Forrester #Forrester #ForresterNordics #Financialservices #Banks #AI #GenAI

April Fintech Newsletter: Financial Services x Gen AI, a real estate industry shake up, and more: If you'd like more commentary and analysis about news and trends from the a16z Fintech team, you can subscribe here. Gauging Generative AI x Financial ...

I’m incredibly proud of the launch of Amount’s AI Policy Optimizer! This innovative tool is a game-changer for banks and credit unions, helping them streamline and optimize their lending policies like never before. It’s exciting to see how AI can drive better outcomes and efficiencies for financial institutions, and I couldn’t be more thrilled with what our team has built. Want to learn more about how it works and the impact it can have? Check out the full details here: https://lnkd.in/ed754u8d #AI #Fintech #Innovation #Lending #AIinBanking #Amount

There is a growing interest in integrating AI and generative AI technologies into financial services. The shift towards open banking and data sharing aims to enhance consumer experiences through tech-driven advancements in payment systems, savings apps, and alternative lending solutions. #AI #FinTech #OpenBanking

Artificial intelligence (AI) can significantly improve small banks' loan decision-making by enhancing efficiency and accuracy. However, regulatory concerns, particularly around transparency, accountability, and explainability, are holding back widespread adoption. Many small banks are cautious about implementing AI due to potential scrutiny from regulators, costs, and challenges with integrating AI.... Read On..