Blockchain may have been the obvious choice when one considers the subcategory of fintech that might gain traction this year, but we should have expected that the rise of a more reliable ledger system would pave the way to the rise of companies that would be able to utilise information gleaned from said ledger. Either through newly collected information or utilising data banks that have been sitting idly in data caches of various big corporations, artificial intelligence (AI) has risen and may pave the way for the future of fintech. McKinsey estimates that AI could potentially create between US$3.5 trillion and US$5.8 trillion in value annually across nine business functions in 19 industries. In Asia, Hong Kong's AI sector is getting a slice of a HK$50 billion of budget 2019, and the Monetary Authority of Singapore has a standing US$27 million AI grant named AIDA furthering the island nation's drive into artificial intelligence. With the world waking up to the scene, we have compiled a list of AI companies to watch that have a stake in fintech.
Dec-4-2018, 04:34:59 GMT