What is cryptocurrency? Are we headed for another crash? Get answers to where money is going, and where it might take you, in the days to come

The Future of Money

[ MUSIC ] AI is a much- used term, and I think everybody has a bit of a different definition of what it is. A lot of the applications that we see today are really machine learning Or even something that's a bit of a precursor to a robot's machine learning program but still very insightful. There offer new kinds of business analysis. AI can be a very exciting future for financial services. Think about it's use in investing versus what the human brain is able to do. With the use of technology we can have more customized investment portfolios. Better suited to individuals needs that don't panic and downturns that, I think can do potentially a better job than so many active managers have done for investors today. So using AI Well, to me is just like any tool, it has to have the right application for the right purpose. And you have to do it in an endeavor to to have a better outcome for the customer. Things like machine learning are going to be core to how we develop a product that suits our customers needs. Has been proven to be a powerful tool and the way we think about artificial intelligence and machine learning is really across all of our businesses, not just in our sales and trading operation but also in our wealth management. And it's Investment Management Information. I think the whole notion of machine learning, accelerating and augmenting human intelligence and learning from patterns quickly is something that we're seeing help in multiple industries so that you can really add nuance But with body of fact. [ MUSIC ] We need to remember though, that those systems are created by people and inherit the biases thereof. And so we can't say Simply trust what comes out of a so called AI system as though it's inherently smarter than us. And we need to constantly be checking that with our view of reality and the world. We'd like to create. The challenge with AI and one of the things we're addressing challenge with all technology and one of the things we're addressing these elements is the inherent bias. Machine learning AI. Basically looks at historical data. And if historically speaking, industries have been discriminatory, you could end up kind of perpetuating that discriminatory behavior if that's what it's learning from. We need to be really careful with what we are asking the machine to do and how we are thinking and evaluating what the machines are doing. I think AI information has to be also regulated. That. I'm not talking about over regulation, right? Don't understand me wrong, but it's really misuse of the information as to be regulated in sake of the people.

How A.I. Continues to Impact Financial Services

Finance

A.I. Continues to Impact Financial Services

As explained by executives from some of the world's biggest financial institutions, and cutting edge fintech companies.

[ MUSIC ] If I had a crystal ball and knew when the next recession would hit, I'm way wealthier than I am today. We're all talking about it. I think the level of preparedness post the greatest financial crisis is one that Financial service companies are truly thinking through so that there are proactive strategies for how to manage in a downturn as opposed to reactive. And so I think we're smarter world for having been through 2008, 2009. So I'm not an economist and therefore I'm not going to make a prediction about when the next recession may or may not hit. I do think that the banking industry has more capital. Well position today and perhaps it has been. The unfortunate part about when it happens. I think it's gonna be more of a self inflicted wound. Then the market just turning whether it's the trade issues, the global issues, the global growth slowing, it'll be a perception created recession. The more people that say, I think it's coming let me pause spending. What do you do? You're creating a recession by pausing, you're spending. I think the interesting part is, are we better equipped with AI and blockchain and other mechanisms that actually can help us detect volatility more quickly and actually react to, To it. I think there were some concerns about trigger points being made by automated trading. And I think the combination of that automation with AI and with an immutable ledger [ UNKNOWN ] blockchain that's keeping records of all these that you actually could detect and prevent damping some of the impacts a little bit more that could take out some of that volatility and some of that uncertainty in the market. [ MUSIC ] [ MUSIC ] Well, you're never ready for a session, right? [ LAUGH ] What's bad is currently the protective environments. And [ UNKNOWN ] are limited now to use their global trades, limited by a political environment. I think it's bad for the business. We can send services, artificial intelligence from Pune, India To San Francisco. Why can't you send also goods and money and free movement? That may impact recession. So I think that we have to really step up especially global CEOs like me have to step up saying that, look when good move, jobs are created. I mean money moves jobs are created. People go to school, people get educated better and I think that's something that will hinder definitely the recessions. I think it'll be bad, I think they to be honest I think 08 was the order of course. It's a little bit like asking me There's a bridge that was designed to hold twenty cars passing over at a time and there's now a hundred going over it, when's it going to break? When's it going to collapse? That's really your answer. I'm kind of shocked it's gone on this long and I think we have deep deep structural architectonic level problems in our economy that will surface at some point. Basically people my age or older decided to rob your future from you and And we did it, the average 65- year- old is going to live now over the course of their life $ 70, 000 better off. And the average person graduating from college at 22, can live about $ 450, 000 worse off over their life thanks to what's gone on in the 40 or 50 years before you showed up. [ BLANK_AUDIO ]

When Will the Next Recession Hit? How Bad Will It Be? And Are We Ready?

Executives from American Express, IBM, Overstock.com, and Goldman Sachs chime in.

[ MUSIC ] [ LAUGH ] I don't know what the future of Bitcoin is. [ LAUGH ] I have no idea. Anybody else think they know? The future of Bitcoin? [ LAUGH ] I'm so torn. No one knows exactly what the future of Bitcoin is, but one thing that's for certain is it's not going away. The technology is out in the wild and it's Being learned from and modified. And then some incarnation, the problems that it solves and the things that people need out of it, it will stick around. It's hard to say, right? I mean, there's a lot of competition coming from other cryptocurrencies. Some people see Bitcoin as a store of value. Everyone should be buying it to hold it to prevent against global meltdown with governments. I let people believe that. You know bitcoins meant to be a cryptocurrency peer to peer payments etc. So it was a different view of it. I think it will end up being a better way to store value in countries where the currencies like pretty volatile. Bitcoin has all the same attributes as gold, it's finite and supply itself. Scarce, divisible, it can't be counterfeit, but what Bitcoin lacks in history and arguably cultural significance, it more than makes up in accessibility and utility. The coin is creating a whole new set of potential rails. You can move money around the world. You can make micro payments. Anybody who has a mobile device can now save money. And that's super powerful. [ MUSIC ] I look at it as the genies out of the bottle. And what we see is not just that Genie being blockchain or crypto, but the fact that what we previously thought of is only in the domain of kind of sovereign nation states like money now via technology in software. We can do and accomplish in a decentralized way. I think blockchain is definitely an interesting processing model. Coins and currencies has to be issued by central banks. That's what I believe. It's we're controlled by governments. It's not controlled by an entity. It's hard to regulate it. And it's hard to avoid anti- money laundering. Finding how to manage this is important. Blockchain can help there, but Bitcoin, I don't think it has a long run. The role of Bitcoin is growing as a non- sovereign Digital store value that is your private and unsensible and I think that's highly compelling for many, many people all around the world. My expectation will be that it will grow both in terms of its value and it will grow in terms of its. Ultimate utility. [ MUSIC ] [ BLANK_AUDIO ]

The Future of Bitcoin According to 8 Executives

Some are bullish, while others are bearish.

The Future of Money

How A.I. Continues to Impact Financial Services

Latest episode

As explained by executives from some of the world's biggest financial institutions, and cutting edge fintech companies.

Episodes (4 episodes)

How A.I. Continues to Impact Financial Services

When Will the Next Recession Hit? How Bad Will It Be? And Are We Ready?

The Future of Bitcoin According to 8 Executives