Question

What do you think will be different about the world of finance within the next 12 years, and WHY?

Answer 1

The world of finance will undergo a major upheaval in the next 10-12 years. The two major contributors to the change in finance will be Artificial Intelligence and Quantum computing.

Tremendous investments have been made in AI based financial solutions. There can be areas like wealth management, stock analysis, banking etc where AI can be a major replacement for the human skills with higher precision and efficiency. In the area of wealth management the entire portfolio management function from advice to investment could be taken over by AI functions. In area of banking, the teller functions and other clerical functions could be completely taken over by AI.

In the field of quantum computing, we see giant leaps especially from China and US. This could enhance computing power manifold and there exists multiple states than the 0 or 1 digital states that exist presently in the computing world.

Other areas that could see changes would be in the use of digital crypto currencies replacing the traditional currency and the evolution of peer to peer lending dismantling the intermediary system of today.