The panel discussion explores the transformative impact of AI and technology on personal finance, highlighting key trends, challenges, and future outlooks.
AI and Financial Decision-Making:
- AI is essential for personalising financial advice and making better financial decisions.
- Technologies such as generative AI can improve user experiences and accessibility to financial products and applications.
- AI is viewed as a critical tool for lowering customer acquisition costs and enhancing customer support.
Financial Inclusion:
- Underserved demographics, particularly women, need better financial education and services.
- There is a significant opportunity to use AI and digital tools to improve financial decision-making for these groups.
Challenges and Opportunities:
- Adoption and trust are crucial for the widespread use of financial tools. Impartiality in financial advice is paramount.
- Regulatory, security, and privacy issues are major hurdles that need to be addressed for innovation.
Future Trends:
- The panelists envision AI playing a significant role in democratising access to high-quality financial products.
- There is an expected rise of investment co-pilots powered by AI, helping customers make smarter investment decisions.
- The emphasis is on responsible adoption and balanced technological nudges to guide users.
Conclusion:
The next few years are expected to bring transformative changes, with more personalised solutions and increased participation in capital markets. A responsible approach to adoption and balanced nudges powered by robust technology will pave the way for the future of personal finance.
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Speakers:
- Antonio Separovic, Co-founder & Chief Executive Officer, Oradian
- Christine Yu, Co-founder, Sophia
- Patrick Chan, Head of Asia, Robinhood
- Piruze Sabuncu, Partner, Square Peg
- Wells Vaughan, CTO, Financial Services APAC, SoftServe APAC
Moderator:
- Kumar Abhishek, Head - FinTech & Digital Initiatives, TVS Credit Services