In his third post in the series, Marshall Kirkpatrick focuses on the intersection between artificial intelligence and Fintech. By way of reminder, Marshall launched a 30 day series that explores the intersection between AI and various future scenarios anchored by my emerging futures visual.

Marshall points out that although the Internet of Things may some day be the biggest source of data for AI, the world of financial activities and related data is probably the current richest source of data. Marshall shares his personal hope that the intersection of AI and Fintech brings social good by enabling new degrees of equity, access, and justice around the world. The influencers that Marshall identified through his influencer discovery and research engine are:  Spiros Margaris, Rebecca Lynn and Sebastien Meunier.

Here is the foresight and related future scenarios identified at the intersection of Artificial Intelligence and Fintech (taken straight from Marshall’s post):

Growth in Lending: Powerful data analysis at scale could open up massive growth in lending. Unsecured personal loans, for example, could grow by up to 1000% over the next 5 years, Juniper Research wrote in a recent white paper.

Retail Recommendations: Recommendation engines for retail financial products could drive major growth through optimization of the sales and customer service experience in finance.  Think Amazon recommendations for products from your bank.

Risk Outpacing Regulation: AI in fintech could outpace regulatory preparedness, leading to undue risk for a wide range of parties throughout society. 

To this list I would add the following based on my own future scenario analysis at the intersection of the Internet of Things, AI, Blockchain and Fintech:

1. The nature of financial transactions is changed from who to what, effecting identity and the origin of transactions
2. The full automation of payments and financial transactions
3. Price negotiation driven by things enables new financial services
4. The banking of things drives transactions in real time

This intersection (or combinatorial) analysis is a critical element of future thinking. The foresight visible at these intersections feeds an iterative process that starts with a focus on seeing the future.

The other posts in the series on AI and intersections can be found via the links below:

• 3D Printing
• Food