The world of 2027

​What happens to financial services businesses like banks, wealth and insurance companies when suddenly most of their transacting customers are robots and machines?
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Machine-to-machine transactions are a unstoppable by-product of a world driven by exponential technology change from Moore’s Law, APIs, Internet of Things, Artificial Intelligence and Blockchain.

​The internet is being dramatically transformed from a place where for the last three decades or so we have used it to transfer information and content — and rewrite the non-digital industries that previously handled those activities — to a place where we can transfer assets and value.

And a whole bunch of industries who currently handle those activities are in the process of seeing their business models being rewritten: banking; insurance; wealth management; accountancy; lawyers; currency traders; stock markets, transport. The list goes on.

Financial services is the industry I currently work in which is currently being disrupted.

In many ways it’s a familiar experience to me, as I experienced at first-hand the digital disruption of the news industry in the early 2000s. Back then the news industry moguls just could not conceive how their world was changing.

I put together this short video of what life could be like after the five forces mentioned above have rewritten financial services.

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