At the forefront of Deloitte’s fintech innovation is its head of financial services, David Dalton, who outlines how we can prevent the ‘hyper-disruption’ brought on by a fintech future.
According to Deloitte’s David Dalton, if the Irish financial sector ecosystem was to become significantly disrupted by new entrants utilising AI and other new technologies, a limited talent base of potential recruits could not only restrict fintech growth in Ireland, but drive significant job losses as well.
Among some of the most challenging aspects to fintech development is a specific type of AI referred to as ‘robo-advisers’, which are able to create financial portfolios for clients without human intervention; and the option of banking via a multitude of interconnected devices as part of the overall expansion of the internet of things (IoT).
Speaking in-depth to Siliconrepublic.com, Dalton explained how we can potentially prevent such a situation from occurring.
Words by Colm Gorey