Technological change always precedes understanding of how it will change business. The web was a research tool before we realized it would change commerce and financial transactions.
Smartphones flourished as “cool devices” before drawing people away from desktops. From Facebook to wi-fi, technologies have entered the world in one form only to have us discover an unexpected use that completely changes work, life and business. Right now, we are in the midst of a sea change with regard to three types of technologies: big data, data analytics and artificial intelligence (AI). Each holds promise for banks. The question is, how can banks use them in a way that impacts what they do?