04Mar2024
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Banking 2043: Humanity & Machines πŸ¦πŸ€–

Disclaimer: The views and opinions expressed in the vapa Swiss independent wealth management blog posts featured on this page are solely my own and do not necessarily represent the views of any institutions or organisations I may be associated with. These posts are intended to share personal insights and perspectives and should not be interpreted as official statements or positions of any affiliated entities.

After two in-depth presentations, I can say AI is revolutionising banking. Yet, where does the human element stand amidst AI’s rise?

Many clients value human insight for intricate financial choices. The roles of private bankers, wealth managers, and strategists aren’t going anywhere. Even CEOs will remain if they are tech-savvy and understand how to use technology. Trust, empathy, and intuition anchor these roles, and algorithms haven’t reached that depth. πŸ’ΌπŸ€

Tech experts mastering AI are invaluable. With banks leaning more on tech, these specialists ensure seamless operations, tackle tech challenges and drive innovation.

Despite recognising the value of human roles, AI’s impact is evident. Ordinary tasks and basic client support are becoming obsolete. Bots handle queries, algorithms offer investment advice, and machine learning forecasts market trends. πŸ“ˆπŸ€–

Source: LinkedIn

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Graphic illustrating the integration of AI and human roles in banking for the year 2043, with icons representing AI, bankers, and technology.

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