This Chapter discusses the topic FinTech in light of fast evolving technologies such as Artifical Intelligence (AI). The financial industry – and those related – clearly is undergoing significant transformation. Some of the classic proven business models from the past are disappearing, whilst FinTech accelerates the emergence of new services almost daily.
But what is FinTech after all? What capabilities does AI provide, today and in the near future? What is the new value proposition? How should opportunities and risks of new ventures and Initial Coin Offerings (ICOs) be assessed by banks, the financial markets, and the people?
The chapter discusses possible impacts of FinTech and the potential of Artificial Intelligence to the financial system overall and to the industry in general.