The Fourth Industrial Revolution and Its Influence on Financial Industry.
The 4 th industrial revolution is a big wave upon the society. Are you going to win against the wave or be pushed by it? I wish to provide some insights into winning this wave in the financial industry. The exact technologies constituting the 4 th industrial revolution is 1) D&A (Data and Analytics); 2) Artificial intelligence; 3) blockchain; 4) Internet of Things. These new technologies will bring the following changes: 1) customized financial services; 2) quickened credit analysis; 3) distance services; 4) convenient payment services. Data and Analytics Some say that the center of the 4 th industrial revolution is the big data . An example of the use of big data is Visa using customers’ information and issuing customized discount coupons as a tool of target marketing. South America’s insurance company Santam uses D&A to reduce insurance fraud and to reduce the time of the process. Therefore, big data will bring these changes: 1) better services and produ