AI and machine learning are reordering the Financial Services landscape, navigating an entire industry back to its customers. Fintech is forecast to achieve a compound annual growth rate (CAGR) of 25% through 2022, reaching a market value of $309B. The broader financial services market expected to reach $26.5T by 2022, achieving a 6% CAGR. AI and machine learning are the catalysts that every organization in Financial Services is either adopting or evaluating to break down silos, automate processes and remove barriers between themselves and their customers. In short, AI and machine learning deliver valuable new data and insights about customers and their needs that traditional Financial Services firms could not see before. The following graphic from the World Retail Banking Report, 2020 by Capgemini and Efma, reflects how traditional banks and financial services firms are not capitalizing on the data richness they have available to them. AI and machine learning are enabling startups...
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Started a financial „roboadvisor“ from Stanford in 1994 called e-plan. We pivoted to Portfolion in 1998. hit the bubble implosion in 2000. Ran out of cash on 2001. Too Early... Timing is everything. Plus we lacked focus and budget for marketing and sales.
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