“There are various applications of artificial intelligence in banking. For example, already a growing number of start-ups, such as Trussle and Habito in the UK, that are looking to use machine learning algorithms to help customers find the best mortgage product on the market.
By allowing consumers to have more time and contact to discuss complex personal financial management queries – which chatbots cannot answer – with their bank and portfolio managers banks will be perceived as a trusted and credible source of financial advice.”
“One possibility to realize this vision is to create an exchange to determine the value of data, much like commodity exchanges…As data exchanges publish value, people could see the value of their data and make an informed decision about whether to provide this to the exchange. This also needs to be complemented with “intended purpose”, as opposed to the historical trend of “source of origin” regulation of data, which may be enforceable through, for exam”