The Future of Finance: A New Era Defined by Technology and Data
Welcome! Are you curious about the future of finance? Top financial leaders like Adena Friedman, CEO of Nasdaq, and C.S. Venkatakrishnan, CEO of Barclays, have recently shared their predictions during the Fortune Global Forum conference. Let’s dive into their insights!
Tech-Driven Renaissance in Finance
“Finance is experiencing a renaissance period driven by technology, and this will continue for the next decade,” predicts Friedman. Nasdaq, for example, provides technology to 130 other markets worldwide. Friedman sees the future as one where payment rails modernize, cloud services enhance market scalability, and AI plays a critical role in improving operations.
Advancements in Cybersecurity
With the progression towards a digital future, cybersecurity must also advance. According to Friedman, it’s essential for companies like Nasdaq to leverage AI capabilities to detect and prevent financial crimes effectively.
The Age of Data in Finance
On the other hand, Venkatakrishnan emphasizes the role of data in the future of finance. By harnessing and analyzing data more efficiently, financial and investment decisions can significantly improve.
AI and Automation Redefining Finance
With the rise of AI and automation, CFOs prepare for a rethink of the finance function. Traditional roles, like accountants and financial planners, will then focus more on strategic thinking. In fact, some startups are even developing “AI coworkers” for CFOs.
Skills of the Future in Finance
What skills will be vital in this new era? Venkatakrishnan believes that while understanding economics and finance remain important, technological skills and understanding potential risks of technology are crucial. Nasdaq’s Friedman agrees, stating that data science and data engineering are becoming critical skills in their technology team.
Interested in more insights from Friedman and Venkatakrishnan? Check out their full interview here.
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