Microsoft Asia President on AI, New Technologies for Banking Industry

The video discusses AI as a key differentiator in technology, emphasizing its role in Fintech and cognitive services. It highlights the disruption in the banking industry due to AI, focusing on consumer experience, regulation, and cybersecurity. The importance of data governance and ethical AI use is stressed, along with the need for regulatory compliance. The video concludes with insights into the future of Fintech and big data, noting the risks of traditional banking models.

What are the key factors that have enabled the recent advancements in AI?

• Algorithms, big data, and cloud computing

• Reduction in global population

• Increased human intelligence

• Development of new languages

How might AI change the way we make payments in the future?

• By increasing the number of bank branches

• Through facial recognition technology

• By eliminating all digital transactions

• By using traditional cash transactions

What is one of the main challenges banks face with the rise of fintech?

• Decreasing number of fintech startups

• Lack of customer interest

• Regulatory changes and cybersecurity

• Increased competition from traditional banks

Why is it important for banks to have a data governance model?

• To eliminate the need for technology

• To create new products and services

• To reduce the number of employees

• To increase the number of physical branches

What is a significant risk for banks that do not adapt to new technologies?

• Higher profits

• Reduced regulatory scrutiny

• Increased customer satisfaction

• Living in a geofence world