Published on June 22, 2018
The last few years have seen significant advances in cloud computing, AI, telecommunications and smart devices. Every industry which touches human lives is getting disrupted for the better by technological advances at a breathtaking pace.
At Active.Ai, our team has been imagining the future of financial services at our skunk works style innovation hubs.
This helps us bring ideas from experimentation to proof of concepts to pilots at great pace.
I recently had a peep into our own Matrix for wealth management, where I walked around a mocked up virtual portfolio, pinched and moved graphs across asset classes, wearing a Holo Lens. It felt like so much like science fiction, that I had to pinch myself!
We can very well imagine a future, where an Advisor and Client are engaged over conversations, on such platforms. Banks can create virtual branches and tellers. Insurance companies can be engaging in virtual claims discussions. Robo-advisors can add personas.
Yes, it seems unreal but we can see that in near future, these capabilities may become mainstream in customer engagement. 2007 was the launch of the smartphone (Apple’s iPhone). In a decade, everything changed and financial services moved from Brick and Mortar to mobile.
Given that Internet majors, having tremendous computing capabilities, financial resources, AI leadership and most importantly engaged customers, we believe that the Financial Services virtualization will happen sooner than anticipated. Incumbent banks and Insurance companies will need to think (or rather, ‘unthink’) about their brick and advisor networks.
Maybe in the year 2021 you would be greeting your banker wearing smartglasses in a virtual branch.
Do you see this possible in the future? Tell us what you think: firstname.lastname@example.org