Big banks can “carry a little curve” on artificial intelligence, and allow smaller startups to collect more dangerous stakes

Craig Corte, president of Global, told data and coverage of banking services for companies and investing in Standard Chartard.

“I don’t think we should be at the forefront of innovation about artificial intelligence as a big bank. I think this is a risky place, and there are many other organizations and industries that can be there,” Corte said last week at the Fortune Brainstorm Ai Singapore Conference. “I think we can be a little behind the curve.”

Tiani Chang, Director General of Cyber Security and Security at ANT International, has pointed out that three risks posed by artificial intelligence. (Ant International is a partner in Fortune Brainstorm ai Singapore.) The first is the tendency of artificial intelligence to make things or “hallucinations”. The second is the possibility of various artificial intelligence agents with each other, which opens new ways of external attacks. The third is Deepfakes, including the possibility of fake clients as an attack heading.

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However, Zhang said artificial intelligence was making parts of his job easier, as an example of how financial investigators’ skills increased in beginners.

Banking clients also consider whether they should be trusted. Vivien Jong, President of Digital and AI for Asia at BNP Paribas Wealth Management, indicated that younger customers adopted artificial intelligence because of its speed and transparency. She said, “They want to use artificial intelligence to search for objective investment on sustainability or technology.” However, older customers are more careful, as they see new technology as a “support tool, not something to be used for investment.”

Big for a small

Corte and Zhang were part of a committee to explore how to set artificial intelligence to transfer the financial industry. One of the main questions was what kind of institutions that might benefit more than artificial intelligence: large banks, or smaller startups?

The larger players previously were slow to adopt new technologies – they often paid the price of their frequency. But this time, the major companies are more eager to adopt artificial intelligence.

“For those of us who were present in the first digital revolution, it was a group of strangers and small companies trying to persuade the current current players that they needed to digitize their business,” said Courty.

But unlike the previous cases of digital transformation, as the largest players have struggled to keep up with it, the largest banks are more passionate to adopt new technology this time.

“For those of us who were present in the first digital revolution, it was a group of strangers and small companies trying to persuade the current current players that they needed to digitize their business,” said Courty. “This has been completely reversed today. The world’s largest players with most customers, with the largest public budgets, (they) are the ones who are leading the artificial intelligence agenda.”

Meanwhile, smaller startups can wrestle with long -term horizons or long documents required to work with a large bank. Jong, from BNP Paribas, shared her own struggles about working with smaller startups, including those that “did not take place without connecting to the Internet because they did not receive salaries for two weeks.” One of the episodes was the volume of BNP contracts. Jong narrated that one startup was uncomfortable with the 60 -page main service agreement, and said it preferred to work for free for six months.

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Zhang, from ANT, is approaching the size conversation from a different point of view: ANT Customers.

“Some of our customers … very young. They can be a couple, a husband and a wife who delivers their online store in their one -bedroom apartment,” Zhang pointed out. These young customers usually fight to deal with all the different risks that come with the management of a small company. But “with the help of Amnesty International, they can access all new technology and new tools to deal with automatic payments. They can deal with disputes solutions and risk management solutions, and they can raise funds from different currencies and deal with foreign exchange fluctuations.”

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Michael Woo, CEO of Crypto and amplifier in last week’s board, has everything that could shake the financial sector. Agentfi is now continuing, or the financing led by artificial intelligence agents who can make their decisions independently. ((Disclosure: Fortune owner, Chatchaval Jiaravanon, is an investor in the amber group)

Wu noticed that artificial intelligence agents do not currently have financial resources to implement the measures they decide to take. He said: “The agent cannot enjoy the autonomy to say,” I am heard, I want to spend this amount of money, or I want to invest in this in exchange for that. ”

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Wu, Crypto will give artificial intelligence agents “financial freedom”, and give them the resources necessary to make their decisions. “They can even employ humans again to do what they want,” suggested.

Amber launched the first “agent”, an Amnesty International, which is called “MIA”, to serve as “Agentfi Accordor” in May. “The best likeness for me is (that Mia) is very bright, young and very trained,” said Wu. “She can do some surprising things. It still makes a lot of mistakes, and sometimes she behaves very stupid, to be in advance.”

Wu Mia engineers gave the ability to manage the liquidity of her distinctive symbol. However, Wu noted that the agent struggled to describe the financial measures she was taking on social media. “This also happens to humans, right? Sometimes we learn something new very quickly, and our left or right mind … does not realize what the other half does.”

He added: “We hope, this time next year, many of these engineering problems will be monitored and identified and may be solved by these agents themselves.”