Although two different entities, humans and machines have coexisted for many centuries now. Binary, the language that enables machines to compute and process information, is a system of two elements. It is the basis of all the coding and forms the foundation of how machines interact with the world. How does, then, the wide spectrum of human thinking and imagination accommodate the co-existence of binary machines? When a machine is given a task, it is translated into a series of binary bits, ones and zeros, a language that it comprehends and uses to complete the assigned job.

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain.

We never have been so closer to the future than we are now. There are news spreading across the media about the robots takeover of our jobs, driverless cars hitting the road with outstanding proficiency in driving standards, while at the same time, virtual assistants make us feel a bit less lonely telling us jokes and spending time with us. In fact, Siri, Alexa or Cortana have something machines didn't have before: a simulated human conscious capable of keep conversations with humans without being uncovered. AI is now at its most advanced development stage ever, but… do we need to worry about how smart are getting the robots? Will we ever need to?

Use of AI within wealth management has the potential to revolutionise a sector struggling with digital change, but according to Tim Waterton, VP of UK Business at M-Files, any use of automation must be applied smartly and not simply for the sake of it. The wealth management sector is facing a growing need for technology-led change, driven by a new generation of wealth. AI could hold the answer, but many wealth managers are struggling when it comes to implementation. A recent poll amongst 500 private wealth executives shows that AI represents both a major challenge and opportunity, with over a third (36 per cent) of respondents admitting they have struggled to capitalise on the technology. Waterton agrees that AI has the potential to transform the way wealth management professionals deliver services to clients and streamline their processes, but also advises caution relating to over-automation.