AI Impact on Financial Services & Economy Panel | CogX17 Highlights

Very little is of more importance than the impact of AI on the economy. According to research published by Accenture, AI has the potential to double the GDP growth rates of 12 developed economies by 2035 and yield huge economic benefits; the models predict the UK could boost its annual growth from 2.5% to 3.9%, generating an extra $814bn. In the face of rapid and unpredictable changes, incorporating AI technologies with existing core indexes that track key economic measures will enable Financial Institutions to make more data-informed decisions around investments, loans and deposits. AI also promises to transform what’s possible in trading financial instruments, the detection of financial fraud and regulation compliance.

  • How has the economy responded to technology disruption in the past?
  • What will the impact be this time?