Money20/20 USA Day Three: Challenging the Status Quo and Breaking Boundaries with Artificial Intelligence
“We need a world where professionals are supercharged, not supplanted by technology.” – Naureen Hassan, Chief Digital Officer, Morgan Stanley
The FleishmanHillard and VOX team wrapped up the last full day of the conference, hearing from key industry leaders about the promising role of artificial intelligence (AI) and how it can revolutionize people’s financial lives.
Day 3 Highlights
Michelle Moore, head of digital banking at Bank of America, provided an exclusive look at the bank’s latest innovations and previewed how she plans to further blend the digital and physical worlds to create a better tomorrow. “The possibilities are endless with our virtual financial assistant Erica and we’re making significant investments in new solutions that improve our clients’ financial lives,” she said. Moore also spoke about the power of AI more broadly in transforming the financial services industry, claiming that, “AI will help clients navigate information overload and turn data into insights, in a way we’ve never seen before.”
Two industry power players – Asiff Hirji, President & COO at Coinbase, and Katie Haun, Coinbase board member and co-lead of the crypto fund at Andreessen Horowitz – shed light on crypto and its potential to create a more inclusive global financial system. “There is nothing wrong with the dollar bill if you presumably have a bank account,” said Haun. “But, 36 percent of the world’s population are unbanked; crypto currency can reach this population and unleash the potential of an open banking system.”
We also heard from Naureen Hassan, Chief Digital Officer at Morgan Stanley, about the role of AI in serving the rapidly changing needs of digital-first consumers. While AI and machine learning are core elements of the digital transformation, “we cannot forget that AI should augment and enhance the human element, not replace it,” noted Hassan. “We need a world where professionals are supercharged, not supplanted by technology.” With a call to find the right combination of AI-powered technology and human advice, Hassan encouraged attendees to embrace Augmented Intelligence as a means of super-charging the advisor-client relationship.
Lastly, the signature event, “Are We There Yet?” – hosted by Money20/20 and FleishmanHillard – delved into the complexities of women navigating the financial services industry and how to best achieve gender parity. Attendees, including fintech executives and key media, had a lively conversation around mentorship best practices and hot topics impacting women in finance and in the workplace at large.
Catch highlights from the past four days at @Money2020.