Link con acceso aquí: http://revista.escolme.edu.co/index.php/cies/article/view/463
Articulo de Investigación Publicado en Revista CIES - Vol. 14, Nro. 2 (2023) Me invitaron a escribir el artículo editorial de la nueva edición de la Revista Académica "CIES" de la Dirección de Investigaciones perteneciente a la Institución Universitaria Escolme (Medellín, Colombia). Aproveché para reflexionar sobre cómo llegó "La hora de enseñar posturas críticas sobre la inclusión financiera digital". Link con acceso aquí: http://revista.escolme.edu.co/index.php/cies/article/view/463
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Artículo publicado PCMI Blog Series - 23 de agosto 2023 According to recent IMF forecasts, while World GDP growth forecasted is 2.8% in 2023, in Asia and the Pacific, it is projected to increase to 4.6%, up from 3.8% in 2022. China is the largest contributor to Asia’s growth rate this year (expected to expand by 5.2%). Other economies in the region are projected to experience solid growth as well (Asian emerging market and developing economies: 5.3% and advanced economies 1.8%). Overall, Asia-Pacific economies are expected to contribute about 70% of global growth in 2023.[1] For these reasons, APAC has recently been described by the IMF as a “bright spot in a slowing global economy.” A Region of Opportunity for Fintech, But Also Huge Particularities Being home to 60 percent of the world’s population[3] (4.3 billion people) and including the world’s most populous countries (China and India), one of APAC’s comparative advantages is that it has one of the largest fintech user bases globally, with growing fintech adoption. This adoption varies across the region, with developing markets showing deeper penetration than developed ones. China is by far the leader, at 87% fintech adoption (use one or more fintech services[4]), with India, not far behind. Developing markets show 70% more finance app installs than developed markets. Indonesia, the Philippines, Thailand, and Vietnam saw the most demand growth in fintech app services in 2018-2021[5]. In developed markets we see slightly lower (but still high) adoption, where traditional bank penetration is higher: 67% in Hong Kong, Singapore, and South Korea and 58% in Australia. It can be challenges to analyze APAC as one regional block, and several questions emerge. Should the ten ASEAN[6] nations be treated as a sole entity? Or compare them to India and China, two giants that hog spotlight? Or group everything together with economies as Australia and New Zealand? When attempting to comprehend APAC, the regional analysis conducted by Findexable[7] for Asia and the Pacific provide insight into some of these dynamics: APAC Expected to Become the World’s Top Fintech Market by 2030 Despite regional nuances, APAC is home to one of the fastest-growing fintech industries in the world, and serves as the headquarters of numerous global and regional leaders, including: Ant Group, PineLabs, Phonepe, VoltBank, Grab, Policy Bazar, Judobank, WeLab, PayPay, CRED, Harmoney, and others. There are 45 city-level fintech hubs among south, east, and west Asia and Australia, including Hong Kong, Singapore City, Sidney, New Delhi, Beijing, Tokyo, among others, where fintech is deployed to solve real-world problems. In developing economies, fintech is helping to unlock economic growth via increased financial inclusion, Vientam’s ZaloPay and MoMo, who enable mobile P2P payments for the unbanked, as examples. In the wealthiest markets, they are providing better user experience and advanced capabilities to a population that has most of its financial demands solved. Here, fintech services are incremental, rather than revolutionary. Australia’s BNPL Afterpay (acquired by Stripe for $29 billion) and neobank Judo, are excellent examples. Because of the diversity of opportunities, according to a recent report by Boston Consulting Group and QED Investors[8], APAC is expected to outpace the United States and become the world’s largest top fintech market by 2030 with a projected CAGR of 27%. Trends Shaping APAC‘s Fintech FutureIn the coming years, the region will undoubtedly evolve. Here are the major trends that are influencing the present and future of the APAC fintech industry[9].
Global Lessons from Asia and the PacificWhile the rest of the global continues to experience sluggish GDP growth, APAC may have some useful lessons that can be applied elsewhere.
The Asia-Pacific region provides a fascinating case study for the global fintech industry from which to draw inspiration, as they work to revolutionise the way financial services are provided to the highly banked and underbanked alike. In future articles, we’ll delve deeper into this fascinating region and its vast opportunities for fintech and payments industry. Ignacio E. Carballo
Artículo publicado PCMI Blog Series - 20 de agosto 2023 Last year was most likely the worst in the history of the fintech and digital banking industries. ChatGPT, however, drastically altered the debates in 2023. This natural language processing tool powered by AI technology that enables human-like dialogues, prompts a flood of questions, concerns, but also potential opportunities. Artificial intelligence (AI) is nothing new to the financial technology industry, which employs it in areas such as consumer personalization, loan underwriting, and insurance. However, ChatGPT is a public, open-source language processor that has the potential to disrupt many areas of the financial services industry, from chatbots and robo-advisors to the demand for highly trained programmers. A game-changer such as ChatGPT comes after fintech’s darkest year and brings in both: new threats, but also new possibilities. The Use Cases That Confirm a ChatGPT Revolution in 2023Many aspects of the financial services industry had already been revolutionized by artificial intelligence before ChatGPT became widely known. In 2022, a survey realized by Nvidia highlighted that 78% of banks and other financial institutions already employed some form of AI. Nvidia’s third annual “State of AI in Financial Services 2023” report[1], based on a survey of approximately 500 global financial services professionals, shows the trends, challenges, and opportunities of accelerated AI adoption:
When asked about specific AI-enabled applications, responses varied from fraud detection to portfolio optimization to conversational AI. Surprisingly, 10 of the 21 diverse use cases examined by the survey are used by more than 20% of respondents’ organizations, suggesting the potential for multiple applications to influence how financial institutions operate. Interestingly, “metaverse / virtual worlds” attracted 12% of respondents, indicating that financial services firms are identifying a variety of use cases for virtual worlds, including training, new employee onboarding, retail branch simulation, insurance risk evaluations, and more. However, as we may see, natural language processing (NLP) and/or large language models (LLMs) highlights. Additionally, according to a recent consumer survey, 37% of individuals who have heard of AI are familiar with OpenAI’s ChatGPT. The same proportion of respondents said they have never heard of any of the other generative AI companies/products listed in the survey. In other words, ChatGPT leads in awareness, so far, among next-gen AI tools But what immediate effects would natural language processing AIs as ChatGPT have on the financial business? ChatGPT’s Opportunities for Financial Services According to a PWC report, by 2030, AI is estimated to contribute around US$16 trillion to the global economy. In fact, according to the study, product upgrading will account for 45% of total economic gains by 2030, driving consumer demand, as AI will produce a broader range of products with greater personalization, attractiveness, and accessibility over time[2]. Specifically, ChatGPT may assist financial institutions in streamlining their processes, lowering expenses, and improving customer experience. ChatGPT is likely to play an increasingly crucial role in altering the Fintech industry as it grows. The following are some of the most frequently mentioned theoretical applications and impacts of ChatGPT in the financial industry:
ChatGPT: Revolutionary or Hype?As we have shown, ChatGPT has the potential to radically alter the delivery of financial services by raising client satisfaction and customer experience, lowering risk, and strengthening compliance. However, like with any cutting-edge innovation, ChatGPT has its own set of challenges and limitations. The prominent future of ChatGPT in the financial services industry will need to navigate through a number of specific challenges or potential risks, some of which are listed below:
While ChatGPT has unquestionable disruptive promise in improving customer service, fraud detection, and financial advisory services, financial institutions must navigate an uncertain regulatory landscape to maintain compliance and protect consumer data and privacy. The ability to strike the correct balance between exploiting the power of Chat GPT and managing risks will be critical for financial institutions as they achieve the benefits of this technology. In conclusion, the boom around ChatGPT and AI in financial services is not just hype. While there are some obstacles to overcome and potential risks ahead, ChatGPT has the potential to transform the financial services business. The financial industry has only begun its road towards using ChatGPT, which has the potential to revolutionize the way we do business with financial institutions and herald in a new era of superior service for clients across the world. Ignacio E. CarballoArtículo publicado Revista Código Civil y Comercial IX-4 | La Ley - 10 de agosto 2023 Comparto el artículo publicado sobre Blockchain e Innovación Responsable como capítulo de apertura en la Revista del Código Civil y Comercial n° 4 (Agosto 2023) de la editorial La Ley - Thomson Reuters. En este artículo, exploraremos cómo la tecnología blockchain puede contribuir a la innovación responsable, abordando en particular sus aportes a estos dos campos, tanto en términos de oportunidades como de desafíos asociados. Para ello revisaremos críticamente parte de esta literatura a los fines de discutir la contribución potencial de la tecnología blockchain a innovación social en términos de responsabilidad social empresaria y economía circular. Link web: http://laley.thomsonreuters.com Ignacio E. Carballo[WEBINAR] Estado de la inclusión financiera después del COVID 19 en Latinoamérica (19/07/2023)17/7/2023 Webinario realizado con Americas Market Intelligence y Mastercard - 19 julio 2023 Comparto el Webinar en dónde presentamos los resultados de nuestra investigación realizada junto a Mastercard sobre Inclusión Financiera en América Latina. ------ Multidimensional y dinámica, la inclusión financiera en Latinoamérica es un fenómeno tan nuevo que no hay muchos datos al respecto… y fue por ese motivo que con Mastercard—en colaboración con Americas Market Intelligence, empresa líder en investigación de mercados— comparte los resultados de un nuevo estudio en este webinario. Link a video aquí Ignacio E. Carballo
Seminario realizado en Ciclo de Webinars UCA - 15 junio 2023 Comparto el Webinar N°13 del Centro de Finanzas Alternativas en UCA sobre el Impacto de la Inclusión Financiera Digital. Seminario dictado por Ricardo A. Estrada Villalta Financial Inclusion Policy Tutor at Frankfurt School of Finance & Management y Head of Prudential Regulation en la Superintendencia de Bancos (SIB) en Guatemala. Moderado junto a Magali Sakkal, Directora del Programa Ejecutivo en Inclusión Financiera en el Centro de Finanzas Alternativas en UCA. Ignacio E. CarballoEntrevista programa Sin Sucursal - 13 mayp 2023 En 2019 tuve la suerte de ser de los primeros entrevistados del que hoy es uno de los principales Podcast especializados en Fintech: Sin Sucursal. Cuatro años después, volvimos a conversar en una muy interesante entrevista al respecto de TODO lo que pasó desde entonces en el mundo de los pagos digitales y el ecosistema fintech tanto en Argentina como en América Latina. Comparto la entrevista en el siguiente enlace: Link al episodio aquí Ignacio E. CarballoEntrevista programa MetaBIZER - 17 abril 2023 Comparto la entrevista realizada para el último episodio de la primera temporada de de MetaBIZER, el podcast de tecnología creado por Diego Landi y Carlos Toppazzini. Hablamos sobre la política de cashback de los exchanges argentinos y globales, así como también al ajuste que sufre el ecosistema fintech y cripto. También nos metimos de lleno con el tema de la interoperabilidad, pagos digitales y con código QR. Link episodio aquí Ignacio E. CarballoEntrevista programa Bitcoin Para Todos - marzo 2023 Comparto la entrevista realizada por Diego Torres para su podcast especializado "Bitcoin Para Todos" en dónde nos tomamos dos episodios para discutir en profundidad las aristas detrás de la inclusión financiera digital y los pagos como instrumento de democratización financiera. Link Episodio 1 Link Episodio 2 Ignacio E. CarballoParticipación en Payments Day 2023 - 29 de marzo 2023 Participación en el panel de apertura del "#PaymentsDay 2023: El gran evento de los medios de pago en Argentina y Latam" Evento organizado por Pablo Wende el día 29 de Marzo de 2023 Link aquí Ignacio E. Carballo |
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