Financial Services in Flux: Tokenization, DPI, and GenAI
Financial services are changing. Will you adapt or be left behind?
Artwork of the day: “Crayon House Foreclosure” Banksy, 2011, Los Angeles, US
The work features a girl who has just drawn a crayon house, only to find a workman had boarded it up.
The artwork elicits a range of emotions, from curiosity and introspection to a sense of unease and vulnerability. Banksy's use of graffiti and street art techniques adds an element of urban grit and rebelliousness, challenging conventional artistic norms and pushing the boundaries of artistic expression.
I picked today’s art as it shows the role of art during societal changes. I wonder if fintech will inspire any artists.
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👉Once again, I’m trying to cut down the length of this newsletter to make it shorter, and improve readability. Mobile readers should like this. The downside is that my graphs/images don’t get shown and the story summaries are shorter.
Let me know what you think: 👇
Why today’s stories matter:
All of today’s stories show a financial services sector in transition, and anyone who thinks that transition will be easy is kidding themselves.
From tokenization to a push for India-style digital public infrastructure and GenAI used in wealth management, all show disruptive changes in how financial services are provided.
The problem is that the changes are so profound they won’t be easy, even for people in tech, as the Tech Trend report clearly shows.
The big question arising from today's articles is not "Do we have to change?"
We clearly do, technology demands we move forward.
The question is, "How fast can we change without breaking things?”
Check out today’s 🔥MUST READ🔥 report from Harvard Business Review on Generative AI.
Tokenization: The New Rails of Finance Are Coming
India achieved in 9 years what would have taken 50 without Digital Public Infrastructure
The Future of Financial Advice: Digital Trends and Human Touch
Weekend Read: Generative AI: Insights You Need From HBR
"Business is changing, Will you adapt or be left behind?
HBR's tagline for this report seems to sum up nicely why this made the weekend reading list.
The report is a compilation of eleven articles exploring GenAI, and the articles have something for everyone.
The chapters are short, punchy and 100% practical. Each ends with a "takeaways" section.
👉 Chapters that I enjoyed:
3: A Framework for Picking the Right Generative AI Project
7: Generative AI Has an Intellectual Property Problem
8: AI Prompt Engineering Isn’t the Future (This one is particularly interesting.)
11: The AI Hype Cycle Is Distracting Companies (Machine Learning works now and isn't hyped!)
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