Emerging Tech for Banks and Life, Digital Euro Full Speed Ahead, and the Reality of GenAI NOT the Hype
Fintech outlook: the dark days are mostly behind us.
Artwork of the day: detail from Monalisa, Fernando Botero 1978
Fernando Botero is a Colombian artist with a penchant for voluminous characters and an explosive color palette. His signature style, known as “Boterismo,” depicts people and figures in large, exaggerated volumes, which have been used to represent political criticism or humor, depending on the piece.
Throughout his career, Botero has been adamant that he does not “paint fat people” as many critics have suggested. Rather he sees what he paints as volume, once describing his work as exploring the “sensuality of form”.
Today's artwork by Botero was intended to make you smile. It’s a good lead into this weekend’s stories, which are, for the most part, positive, except for my stories on the real use of GenAI that cut through the hype!
In this edition, I will use “words as volume,” just as Botero did with paint, to explore emerging tech, digital euro progress, and the hard-hitting reality of GenAI use.
🔹 JPMorgan: Top 20 Emerging Technologies For Banks
🔹 WEF: Top 10 Emerging Technologies of 2024
🔹 DIGITAL EURO PROGRESS REPORT: FULL SPEED AHEAD
🔹 Fintech Outlook: More Profits Needed, Revenues Up, and Hope Returns.
🔹 The GenAI Revolution is Being Held Up by Wrong Answers and Old Tech
🔹 GenAI In Credit Customer Assitance: Personalized Service or Manipulation?
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JPMorgan: Top 20 Emerging Technologies For Banks
JP Morgan’s (JPM) list of 19 emerging technologies warns other banks that AI is really going to change everything. It’s not just hype. This is a follow-up to yesterday’s WEF report on 10 emerging technologies, with this report focused solely on emerging tech for banks and finance!
WEF: Top 10 Emerging Technologies of 2024
The World Economic Forum’s emerging technology report is guaranteed to have at least two or three mind-blowing technologies you’ve never heard of! That’s why I love it. However, the big question is whether the WEF is successful in its predictions. While hardly scientific, I quickly looked at their 2012 and 2013 reports and found that they got about ei…
DIGITAL EURO PROGRESS REPORT: FULL SPEED AHEAD
The European Central Bank (ECB) is going “full speed ahead” on the digital euro and just published another progress report on the “Preparation Phase.” The report summarizes their progress, and my takeaway is that the ECB is working hard to focus on people’s key issues: privacy and offline payments.
Fintech Outlook: More Profits Needed, Revenues Up and Hope Returns.
The fintech outlook is still a mixed bag with profits thin but revenues growing and hope returning for some. In the end this is an old story we’ve heard for a while now: fintechs need to get profitable. This isn’t new but making things worse is that the road to riches through IPOs and buyouts is not just rocky, but downright dangerous!
The GenAI Revolution is Being Held Up by Wrong Answers and Old Tech
Note this PDF was made from converting a web page, I had to put some of the graphs in manually. The original website can be found: HERE "The Revolution Will Not Be Televised" is a satirical poem and song by Gil Scott-Heron. Scott-Heron first recorded it for his 1970 album “Small Talk at 125th and Leno
GenAI In Credit Customer Assitance: Personalized Service or Manipulation?
McKinsey is going “bottom fishing” for bank GenAI use cases and picked customer assistance in credit and collections, the perfect place to steer unwitting customers. But what makes it truly sad is that McKinsey knows full well that the European Union’s AI Act specifically calls out AI credit ratings and credit access as a high-risk activity!
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