Ann Thapar, Senior Lecturer in Finance and Accounting, wrote an article for City A.M. about whether the Fintech industry has the potential to transform financial services in a post COVID-19 landscape.
In the article, Ann Thapar discusses how COVID-19 could potentially be the perfect storm heralding the dawn of a new tech era for the Fintech industry. She wrote: “The SARS-CoV-2 virus epidemic has generated widespread strife and conflict in economies across the globe. Virtually overnight, consumers shifted their activities online.
“There is an evolution underway in the Fintech industry, with the potential to transform financial services forever. Machines with infinite cloud-based memories together with Artificial Intelligence (AI) capabilities have entered a brave new world.”
However, she noted that Fintech is not a replacement of human knowledge, and wrote: “In this fourth industrial revolution, our expected use of AI in Fintech will not replace humans. Big data is not knowledge, but AI can help automate routine processes and effectively retrieve vast amounts of data and information that is buried in time.”
Read the full article on the City A.M. website.