How A.I. is exploding the financial services market: World Economic Forum SPECIAL REPORT

As the World Economic Forum publishes the most extensive and in-depth report yet on artificial intelligence's transformation of the financial services sector, Internet of Business editor Chris Middleton presents a 3,500-word breakdown of the document's key findings and highlights. The financial services sector is in the vanguard of deploying artificial intelligence (AI) worldwide. However, the technology has the potential to be either a transformative and beneficial force, or a destabilising, even existential threat to the global financial system, according to the World Economic Forum. This risks of economic contagion spreading via the technology are real, it says. The WEF has published an in-depth report, The New Physics of Financial Services: Understanding how artificial intelligence is transforming the financial ecosystem, produced in collaboration with C-level executives, analysts, and technology specialists from across every part of the industry. The 166-page sector analysis finds that the bonds that have historically held financial institutions together are weakening as a result of new technologies. This is creating new threats, new opportunities, and new centres of gravity where emerging and established capabilities are being combined in unexpected ways.