Conference: Money, Power and AI: From Automated Banks to Automated States
AI and automated decision-making tools promise money and unmatched power to banks and governments alike: not only, so the saying goes, will they know everything about their citizens and customers, but will also be able to predict their behaviour, preferences and opinions. A global consulting firm McKinsey estimates that AI technologies will unlock 1 trillion dollars additional value for global banking industry every year. No wonder, governments around the world are quick to jump on the AI bandwagon, expecting increased efficiency, reduced costs and better insights into their populations. But will AI and automated decision-making meet these promises?