The impressive uptake of Open Banking looks rather modest when compared with the exponential adoption of Artificial Intelligence. 

Here in the UK, Open Banking has undergone rapid growth since launching in 2018. Officially, there are now seven million Open Banking users in Britain and we’re hoping to hit 10 million soon. 

Yet when the Large Language Model (LLM), ChatGPT launched at the end of 2022, it achieved 100 million monthly active users in just two months to become the fastest-growing consumer application in history. 

The potential annual value of AI and analytics for global banking is forecast to soar as high as $1 trillion. Accenture research has shown that 90% of all working hours in the banking industry will be impacted by LLMs and predicted that half of all work time in the sector could be automated. 

As the AI revolution gathers pace, we will also move from Open Banking into Open Finance and beyond, with vast new sources of rich data enabling pioneers to build innovative services which will enhance the digital lives of billions. 

Together, Open Finance and AI will unlock growth on a vast scale and enable financial services firms as well as businesses in many other sectors to deliver truly customer-centric propositions built around insights and predictions informed by real-time data. 

At this unmissable and red-hot-relevant Campfire, a panel of experts will explore the future of AI and Open Finance, to discuss:

• Opportunities and innovative use cases which leverage AI in an Open Finance context
• Why AI will drive ROI for Open Finance pioneers
• The regulatory landscape and the question of whether we need new rules to govern AI
• How to keep your job in the era of automation – and how to use it to enhance your own productivity.

Agenda:

• 4:00pm – A warm welcome from Helen

• 4:05pm – Fireside Chat

• 4:20pm – Panel Session

• 5:00pm – A final word from Helen

Gender diversity in Open Banking is a challenge. To find out more about what we’re doing to address it, check out the blog post on our “Pass The Mic Campaign” or better still, nominate an inspirational woman to speak at one of our 2023 campfires.