AI in Financial Services Phase III: The Financial Institution of...

AI in Financial Services Phase III: The Financial Institution of the Future

This project is part of the World Economic Forum’s Shaping the Future of Financial and Monetary Systems Platform


The application of emerging technologies such as AI, cloud, blockchain, and IOT in financial services has already begun to have a transformative impact – altering the operating structure of financial institutions, the competitive dynamics of the industry, the role of people in those institutions, and the landscape of the financial system as a whole.



The current phase of this project looks to understand how the intersections between these technologies create opportunities for financial services providers to establish new value propositions that differentiate their organizations and to potentially transform the role of these institutions within the broader economy.



By convening leading financial institutions, large technology firms, emerging Fintechs, regulators, academics, supervisors, and representatives of civil society, this project aims establish a series of visions of what the financial institution of the future could look like.



This initiative will:

• Assess the maturity of key emerging technologies, map their interactions, and understand how these intersections create capabilities greater than the sum of their parts for financial services providers
  
• Ideate on net-new value propositions, business processes, and business models being enabled by the intersection of AI and other emerging technologies. This ideation would consider the foundational capabilities required to capture these net-new opportunities
  
• Explore how these new value propositions and business models can plausibly be executed within financial institutions, and identify the new governance and oversight required to enable these new potential offerings