How Web3 and AI Will Transform Finance

Artificial intelligence and crypto are not only reinventing financial products and delivery, but also influencing who gets to participate.

Since the birth of ChatGPT, writing summaries from long reports or crafting personalised emails have become a thing of the past for many people. One year on, the ability of generative AI (GenAI) to extract and synthesise data and sentiments from massive volumes of data has made complex information more accessible than ever before. It is now also possible to tailor one-to-one online customer interactions at scale, from product search to purchase.
 
The exponential increase in operational and cost efficiencies made possible by GenAI is observed across domains – including the way financial services are delivered and experienced by consumers. Its ability to personalise market intelligence and the customer journey in a fraction of the time presents a huge growth opportunity, said Rishi Ramchandani, the APAC Web3 Lead at Google.
 
This comes at a time when the finance world is being disrupted by yet another formidable force: Web3 technologies, or what is commonly known as blockchain. In the INSEAD Future Forum themed “How Will Web3 and AI Transform Finance?”, practitioners took a deep dive into how these technologies are shaping finance as we know it.


Source: INSEAD