The Future of Money session at Sibos has become the “crystal ball” identifying major disruptive trends that are likely to affect the financial services industry in coming years.
In previous years, this session covered topics such as the latest developments on virtual currencies and blockchain, the disaggregation and unbundling of the financial services value chain, and automated credit. But what’s the next big disruptive force?
We believe the new buzzword is the interconnectedness of everything at scale and speed. In this Internet of Everything, every thing talks to every thing and end-points make their own decisions, powered by sensor-driven data collection, machine learning and automated decision making.
It is not the sharing economy as we know it, but a data sharing economy where driverless cars make toll road payments per minute, washing machines decide the right energy vendor at what time and price, where products are created ad-hoc and in situ by 3D printers (with IP royalties paid in real time), where investment decisions are made by a new breed of robo-advisors in real time.
Everything happens at scale and speed. This real-time economy will require a fundamental new infrastructure with more dramatic intermediation than what we see today in payments and securities, with frictionless micro-commerce and micro-payment transactions enabling real transparency of money and value in general.
We will need to rethink the notion of ownership and the definition and management of intellectual property, financial assets, digital assets, rights management and royalties in fully distributed peer-to-peer world. And how do we regulate a world where all the rules have changed?
We move from enabling transactions to enabling commerce, from transaction networks to new articulations of value- and trust-webs.
This session will bring together some of the sharpest thought leaders on this radical transformation of our industry, and will focus on the inter-connectedness of everything.
Two moderators will guide the audience through this exercise and ensure a deep interaction with the speakers in an exciting interactive format.
Since Sibos Toronto in 2011, the Innotribe “Future of Money” is standing room only. For the first year, the session moved to the plenary room as a big issue debate, so make sure you’re there early!
Billions of dollars are spent every year to track our actions, intentions, and sentiments online and via the sensors embedded in the world that surrounds us. Machine-learning algorithms may soon get to know us better than we know ourselves. While robots gaining consciousness is a growing concern, the future of human happiness is dependent on teaching machines what we value the most today.
As AI features in different products, wearable devices, and self-driving cars, we need to think in a critical way about where this will bring us - on an individual and societal level. Will it help us forward? Will it create more time for ourselves? Or will it make our world more complex and less efficient?
Coexisting safely and ethically with intelligent machines is one of the central challenges of the 21st Century. It demonstrates and strengthen the need to establish ethical standards for Artificial Intelligence to help us preserve the values we cherish the most.
This session is an integral part of the future show live. See the session description for detailed information.