AI, cloud, blockchain and beyond: Changing the financial world individually and in tandem

AI has been talked about since the very early days of computing and has attained mainstream use in recent years with the likes of Amazon's Alexa and Apple's Siri. "Just as in the last 40 years, computation has enabled us to change the way we do business and create new products, AI will help us to make better decisions," Carlos Kuchovsky, chief of technology and R&D at BBVA, tells Finextra. "We are now looking at the ways in which it can help us change the way we operate and bring value." The Bank of England has recently reported that machine learning tools are in use at two thirds of UK financial firms, with the average company using it two business areas, which is expected to double in the next three years. It may be through interoperation with cloud and blockchain technology that AI's capabilities will be fully harnessed. AI Utilisation of machine learning and artificial intelligence has become commonplace in everyday life, whether it be in search engines, music streaming services or internet shopping.