Global Fintech: Financial Innovation in the Connected World
David Shrier is a Professor of Practice (AI and Innovation) with Imperial College Business School, co-director of the Trusted AI Alliance (a collective of more than 3,000 AI researchers across Imperial College London, MIT, University of Oxford, Harvard and University of Edinburgh focused on building a better world through responsible and trusthworthy AI), and a Visiting Scholar with MIT's School of Engineering. He previously held a dual appointment at MIT and University of Oxford where his initiatives directly drove over $1 billion of financial support for MIT, Harvard and Oxford. David also is active in the private sector having led more than $10 billion of corporate growth programs and an IPO on the NYSE, and having made three dozen angel investments through his venture studio Visionary Future. With MIT Press, David has co-edited
Alex “Sandy” Pentland directs the MIT-wide initiative MIT Connection Science. Called one of the “seven most powerful data scientists in the world” by
How the global financial services sector has been transformed by artificial intelligence, data science, and blockchain.
Artificial intelligence, big data, blockchain, and other new technologies have upended the global financial services sector, creating opportunities for entrepreneurs and corporate innovators. Venture capitalists have helped to fund this disruption, pouring nearly $500 billion into fintech over the last five years. This book offers global perspectives on technology-fueled transformations in financial services, with contributions from a wide-ranging group of academics, industry professionals, former government officials, and current government advisors. They examine not only the struggles of rich countries to bring the old analog world into the new digital one but also the opportunities for developing countries to “leapfrog” directly into digital.
The book offers accessible explanations of blockchain and distributed ledger technology and explores big data analytics. It considers, among other things, open banking, platform-based strategies for banks, and digital financial services. Case studies imagine possible future fintech-government interaction, emphasizing that legal and regulatory frameworks can help to create trust in financial processes. The contributors offer novel takes and unexpected insights that will be of interest to fintech experts and nonexperts alike.
Contributors
Ajay Bhalla, Michelle Chivunga, John D'Agostino, Mark Flood, Amias Moore Gerety, Oliver R. Goodenough, Thomas Hardjono, Sharmila Kassam, Boris Khentov, Alexander Lipton, Lev Menand, Pinar Ozcan, Alex Pentland, Matthew Reed, David L. Shrier, Markos Zachariadis
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Table of Contents
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I: Foundations
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II: Transitioning to the Digital Era
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III: Fintech Possibilities
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