"Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum."
top of page
Search

Why is the rise of artificial intelligence (AI) technology so important in the finance sector?
CWallet has been accepted to be part of NVIDIA Inception, a premier program for AI and data science startups. With that note Tech giants are now diversifying the business sector that they are focusing on and I personally believe that in the startup scene that FINTECH players will be a dominant force in the next 5 to 10 years. And since Fintech itself is a huge market with various components like RegTech, InsurTech, Cryptocurrencies and Blockchain. Those items will require EKYC (electronic Know-Your-Customer) type of services in order to onboard new customers and monitor them at the same time. That's why the dynamics are focusing on AI that will analyze it swiftly for decision making and strategic planning. Does AI fundamentally change how the finance industry serves the economy? I believe AI is a tool. Like Cwallet, a mobile money wallet that promotes Financial inclusion and Financial literacy especially to the unbanked majority.
Now this tool will revolutionize emerging economies promoting cashless societies which local banks cannot just accommodate due to its own business model of dealing only with people with bank accounts. Now AI as a toll will empower both B2B, B2C and B2G sectors to fast track the economies of emerging markets in ASIA and MENAT.
Are current finance practices and regulations adequate for overseeing an AI-driven industry? Regulators most of the time will be the last entity to adapt. They mainly observe and then evaluate if it's good for everyone or at least the wider majority of the consumers and the government itself.
An AI driven industry is an ecosystem where all stakeholders collaborate and periodically review the never ending and fast phase innovation. Everyone should work as a community to communicate. This is also the reason why I personally initiated the very 1st Qatar Fintech Association.
Cwallet and other Fintech startups in Singapore, Russia and Qatar that would like to operate in Qatar are unifying communication channels to allow different parties to be part of the association in order to communicate, discuss, argue and eventually create a decision for the benefit of the consumers.
What are the main uses for AI in the finance industry? Where do you see AI technology headed in your field? AI itself is a huge topic and has different types of applications and use cases even if we just focus on the Finance Sector.
As I mentioned, it's a powerful tool that will help decision makers, innovators, regulators and other entities in a business ecosystem.
AI can be used to examine cash accounts, credit accounts, and investment accounts to look at a person's overall financial health, keeping up with real-time changes and then creating customized advice based on new incoming data. Meaning the proficiency will be higher compared to an individual. So that will be the answer to, "Where do you see AI technology headed in your field?" It will replace jobs which regulators are worried about because they need to keep the balance and order especially to countries that have UNIONS.
How can the finance industry be better prepared to tackle business in the next five years?
It's a never ending evolution and due to uncertainty, things could change instantly.
Like what covid19 did. It has affected lots and lots of businesses but open lots and lots of opportunities as well because everyone is avoiding interaction and the majority of the global population is adapting to the digital world quickly. Mobile Money Wallets all of a sudden become popular because nobody wants to visit Money transfer operator (Brick and Mortar) shops anymore. So more and more adaptation even the banking sector has to move fast because they will be left behind.
As final example, one of the biggest platform that allows their users to publish and upload short video contents in return of likes/views are trying to partner with a community wallet like Cwallet because they can't transfer the payment to those individuals that are mainly millenials that doesn't have bank account because they are below 18 years old. With that notion, its telling everyone that banking is no longer for adults in an expat driven society.
So the adaptation in the next 5 years will be unprecedented.
51 views0 comments

Why is the rise of artificial intelligence (AI) technology so important in the media and entertainment industry?
AI has the potential to dramatically affect the profession and business of news – how journalists can gather and report on the news, how we produce different formats of content and how we deliver it to consumers.
At the AP, we have primarily been interested in how algorithmic techniques can help us make the production of a high volume of news more efficient. That does two things:
1) It helps save our journalists time, freeing them from routine tasks to focus on important storytelling and
2) enables us to create new versions of stories, customizing news formats for more audiences so they engage with it better.
Without automation and AI techniques, doing so would be a drain on resources.

Does AI fundamentally change how the Media/entertainment industry serves the economy?
If we use these technologies properly, news companies can do a better job providing relevant information to consumers, stopping misinformation before it spreads, making its news products more inclusive and diverse and more.
Are current Media practices adequate for overseeing an AI-driven industry?
No. Only a few media companies have sufficient data and technological expertise to properly use and leverage AI.
One of the challenges for the news industry is to figure out how to bring more technological capabilities into the newsroom.
This is why emerging collaborative networks like JournalismAI (London School of Economics) are so important. We must work together to accelerate innovation.
What are the main uses for AI in the media and entertainment industry? Where do you see AI technology headed in your field?
One of the most basic uses of AI technology is also the most common:
Turning simple data into text stories, such as, automatically generating a story about a sports game based on the final scores.
Journalists also are increasingly using algorithms to sift through social media to find perspectives and early detectors of news events, and to sift through thousands of documents looking for patterns that inform a story.
News distribution: algorithms that personalize recommendations for stories and deliver custom feeds, algorithms aimed at increasing paid subscriptions by evaluating customer data and other such business-model uses.
We are still very early in figuring out how to use these technologies effectively and broadly across the industry.

How can the media industry be better prepared to tackle business in the next five years?
Speaking for the news industry, it needs more help in the following:
Data science – gathering and analyzing the data so it can make better decisions about how to deliver successful news products that are engaging and informative.
Talent/technology specialties - it needs people who are “product thinkers” – people who can bring together experts across journalism, technology, strategy, sales and work as a team to innovate.
90 views0 comments
bottom of page