This weekend, we enjoyed the Stanford Engineering “AI in FinTech Forum 2022″… again in person!
Mixed feelings: really positive the overall experience, and the progress of Artificial Intelligence (AI) and Machine Learning (ML) applications at the intersection of finance and technology. But with hallway conversations around funding and cash restrictions for startups in Silicon Valley, some concerns arise in the FinTech ecosystem with the current economic situation.
My 4 headlines on the forum:
- Crypto’s turbulence: With Bitcoin dropping more than 20% last week, cryptocurrency platforms as Coinbase begin to layoff, although its Chief Legal Officer seems pretty positive on the future, thanks to the compliance with digital currency regulations.
- Evolution of digital payment systems: Worldwide development of Central bank digital currency (CBDC) technology might foster a more competitive and open payment systems.
- Data quality challenges: With a broad consensus on the challenges of data quality, basic for good AI, banks as JP Morgan bet on the efficiency of synthetic data for better predictions with ML.
- ESG: Climate risk is a financial risk, and AI can help to model the future… making sure to reinforce transparency.
The question is open: Should we be worried for the turbulences for startups and crypto, or glad for the opportunities that AI is opening everywhere?