Bitcoin’s Impact on Fintech Organizations Won’t Beat AI, Survey Says

When it comes to the innovations in finance that will impact the way future organizations are run, artificial intelligence and machine learning is likely to have a larger effect than bitcoin or cryptocurrency, a survey from investor communications company Mediant found.

Released December 14, 30% of respondents for Mediant’s Trends in Fintech survey chose AI and machine learning as the “fintech innovation” that would have the most impact, for both a 2-to-3 and 3-to-5 year time span.

Meanwhile, only 1% of those same respondents chose bitcoin and cryptocurrency as the most important “fintech innovation,” again for both a 2-to-3 year and 3-to-5 year period.

Mediant conducted the survey in May of this year during the SIFMA Operations Conference, where 10% of conference attendees participated in the survey. Respondents included members of banks, regulators, financial advisors, and broker-dealers.

Respondents of the survey were less cautious of blockchain technology, however: while only 13% of participants believed that blockchain would have a high impact in the next 2-to-3 years, 24% believed the technology would have the most impact on their organizations in the next 3-to-5 years.

Take a look at the full survey here.

To learn more about the latest developments in artificial intelligence and machine learning, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to register.

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