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The Promise of Generative AI May Be Further Off—and Less Visible—Than Many People Think

For the past year, generative AI has dominated discussions about how emerging technology stands to transform our lives, and the payments space has been a big part of the conversation. Though generative AI is a hot topic, the road to development is long. Along with the opportunities come notes of caution and warnings that this revolution may take a while.

Read the full story HERE.

Fast payments: design and adoption - BIS

The payments landscape is evolving rapidly, and fast payment systems (FPS) have emerged as a key innovation. Jurisdictions differ in their approach to designing FPS and in user adoption. 

In this article the authors lay out the main design features of FPS that may foster adoption. Cross-country regressions suggest that adoption of fast payments is greater when the public sector plays an active role in the FPS. Other design factors important for adoption are non-bank participation, more use cases and more cross-border connections.

Read the full article HERE.

How artificial intelligence hides in plain sight

We're living through an inflection point for artificial intelligence: From generated images and video to advanced personal assistants, a new frontier of technologies promises to fundamentally change how we live, work, and play. 

And yet for all the buzz and concerns about how AI will change the world, in many ways, it already has. 

From spam filters and sentence suggestions in our email inboxes to voice assistants and fitness tracking built into our phones, countless machine learning tools have quietly weaved their way into our everyday lives. But when we're surveyed about which everyday technologies use artificial intelligence and which don't, we aren't particularly good at knowing the difference. Does that matter?

JPMorgan CEO Jamie Dimon on the US economy

Jamie Dimon, JP Morgan Chairman and CEO, joins Halftime Report live to discuss the market, real estate, lending and more.

How Artificial Intelligence Is Reshaping Banking

Artificial intelligence is transforming the banking industry, with far-reaching implications for traditional banks and neobanks alike. This transition from classic, data-driven AI to advanced, generative AI provides increased efficiency and client engagement never seen before in the banking sector. 

According to McKinsey’s 2023 banking report, generative AI could enhance productivity in the banking sector by up to 5% and reduce global expenditures by up to $300 billion. But that’s not even half of the picture.

Read the full story HERE.

CBDC developments fuel debate

Most central banks are working on developing some form of sovereign digital currency. But are they paying attention to the right things?

Political opposition from the likes of Donald Trump have not stemmed the flow of global projects aimed at developing CBDCs.

130 countries are exploring a CBDC, 19 of the G20 countries are now in advanced stages, and 11 countries have fully launched a digital currency.

There are those who question whether we need a fiat digital currency at all and whether projects address more pressing monetary concerns.

Read MORE