I’m delighted to have completed my ‘Hat Trick’, as today my third book AI and the Future of Banking has been published by Wiley.The term ‘hat trick’ first occurred just over 150 years ago, when the famous England cricketer Heathfield Stevenson (1833-1896) upon taking three wickets in consecutive balls was awarded a hat, hence the term. I’m not sure that it’s not as important as that hat trick scored by Sir Geoff Hurst in the 1966 World Cup Final, but I suppose if there is such a thing as a Hat Trick Club, then I’m now entitled to be a member !
It’s an interesting time to consider both AI and the Future of the Banking Industry. The recent changes in our pattern of working are a probable precursor to how professions will change as a result of the increased application of data, analytics and ultimately to automation. I’ve covered this to some degree in my second book, but this one is more specific to the banking industry in its multiple forms, and in different geographies.
The fall in the use of coins and notes because of the virus in favour of contactless payment and ‘digital money’ in recent times also reminds us that money nowadays has simply become another form of data. To understand the future of banking requires us to understand the future of money, and I cover this in the opening chapters of the book.
As to the Future of Banks, I couldn’t be so bold as to suggest there was only likely to be one future banking model but consider different possible options, such as conversational and collaborative banking for example. I also wanted to remind readers of the social importance of banks amongst the community even in the digital age, now maybe more so as a result of the pandemic.
I’ve enjoyed writing it, hope some of you enjoy reading it, and that I will be able to ‘present’ the book more formally at some time in the near future.
Thank you again to Wiley and all those other contributors who have allowed this to happen.