article thumbnail

What the Finance Industry Tells Us About the Future of AI

Harvard Business

For a preview, look to the finance industry which has been incorporating data and algorithms for a long time, and which is always a canary in the coal mine for new technology. The experience of finance suggests that AI will transform some industries (sometimes very quickly) and that it will especially benefit larger players.

Finance 172
article thumbnail

The Race to Dominate Stablecoins

Harvard Business

Stablecoins — cryptocurrencies pegged to an external currency — have the potential to rewire the global financial system, and expose banking and finance to new digital competition.

Finance 249
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

When Banks Meet Bots: The AI Transformation of Finance

Tom Spencer

AI refers to computer systems that can perform tasks that normally require human intelligence, such as recognizing patterns, learning from experience, and making decisions. Traditional fraud detection systems rely on predefined rules and patterns, which often result in a high number of false positives. What is artificial intelligence?

Banking 78
article thumbnail

Is This the Hospital That Will Finally Push the Expensive U.S. Health Care System to Innovate?

Harvard Business

By almost any measure, American health care costs are out of control but the system refuses to change. health-care system is striving to get to.” HCCI outsourced back-office operations — human resources, accounting, finance, medical transcription, radiology — to low-cost but high-skilled employees in India.

System 134
article thumbnail

Demystifying Emissions Reporting

Harvard Business

With robust GHG reporting, businesses can integrate sustainability measures into existing financial systems and processes, and this can be achieved effectively through collaboration between finance and sustainability professionals. The article provides an eight-step roadmap to achieve investor-grade GHG reporting.

Report 172
article thumbnail

Data Liberation: Impact of CFPB 1033 on the Finance Industry

Tom Spencer

It aimed to increase transparency in the financial system, reduce risks, and protect consumers from abusive financial services practices. As the financial industry adapts to these changes, the focus will be on building secure, transparent, and consumer-centric systems that enhance the overall financial ecosystem.

Data 89
article thumbnail

Technology Ain’t Going to Solve Your Problems

Markovitz Consulting

Yes, the system is pricey, but think of the productivity improvement! Another client of mine invested in a fancy ERP system to help them manage the complexities of their supply chain, and better match supply with demand. If you have a broken process and you add technology, all you get is a faster (and more expensive) broken process.

Software 178