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Digitalisation and new technologies (AI, data analytics…) in the retail space: prospects and challenges

Day 2 Morning

Thursday 12 September

Room :

Fennia I - Roundtable

Speakers

Chair
Anneli Tuominen - Director General, Finnish FSA
Public Authorities
Marius Jurgilas - Member of the Board, Bank of Lithuania
Mario Nava - Director, Horizontal Policies, DG FISMA European Commission
Sharon Yang - Deputy Assistant Secretary, International Affairs, U.S. Department of Treasury
Industry Representatives
Kaj-Martin Georgsen - Senior Vice President Corporate Responsibility and Public Affairs, DNB Bank ASA
Richard Radley - Head of Customer Engineering, Financial Services, Google Cloud
Antti-Jussi Suominen - Chief Executive Officer, Holvi Payment Services Ltd

Objectives of the session

This session will discuss how new technologies such as artificial intelligence (AI), machine learning and data analytics may help to improve retail financial services and how they may impact retail finance business and operating models in the short and medium term.

The panel will also assess the opportunities and challenges associated with these changes for retail customers and whether the current policy framework needs to evolve in any way to allow an appropriate development of these innovations and mitigate any potential new risks.

Points of discussion

What are the main trends in the use of technology in the retail finance market? Can digitalisation and new technologies (AI, data analytics,…) help to improve retail financial services? What are the potential benefits and risks for customers?

Are retail finance business and operating models expected to significantly change with these new technologies in the short and medium term? What are the expected impacts on business models and on cross-border business?

Does the current financial regulatory and supervisory framework allow an appropriate development of digitalisation and new technologies in the retail finance market? Can the specific risks and challenges associated with these technologies be appropriately addressed?