Last week, I had the honour of participating in the University of East London's Centre of FinTech's annual event. As the CEO of ipushpull, and an advisory board member of the Centre of FinTech, I’m proud to be involved in these insightful discussions shaping our industry and nurturing the next generation of fintech talent.
The focus of the event was the exploration of financial services in the context of the emerging metaverse. It's an exciting time, as we are in the heart of the 4th industrial revolution and on the cusp of the 5th, a future where human-machine collaboration will be prioritised. Understanding these shifts is critical not only for envisioning the next generation of financial services, but also for businesses to adapt and leverage these innovations for efficiency, productivity, and profitability.
During my participation in the first roundtable, I had the opportunity to share some of my thoughts on innovation and regulation in our industry. While I firmly believe in the importance of regulation, I stressed that it shouldn't stifle innovation. We need to strive for a healthy balance, with innovation actively informing regulation.
The topic of digital inclusion was also something that was emphasized. In our race towards a metaverse-driven future, it's imperative that no one gets left behind. Yet, we must ensure that the pursuit of inclusivity doesn't slow down innovation. Instead, we should look at these challenges as opportunities for crafting creative solutions.
Discussing the role of AI, I believe we should see it as a co-pilot rather than a replacement for human workers. This view aligns with the “Industry 5.0” ethos, where we expect to see enhanced collaboration between humans and machines to augment service quality and efficiency.
At the current stage, I see us laying the building blocks for the metaverse. However, we are yet to establish a comprehensive product-market fit for both web3 and metaverse technologies. Concerns were shared about big tech giants building centralized AI systems, advocating instead for a more decentralized approach. This shift, I believe, is essential for realising the ultimate vision of the metaverse - something as immersive and interactive as Star Trek's Holodeck.
These dialogues serve as a call to action for everyone in the financial industry - from established institutions to innovators, regulators, and young professionals aiming to make their mark.
At ipushpull, we're committed to being part of these conversations that not only drive our business forward but also help shape the future of our industry. In partnership with the University of East London's Centre of Fintech, we are pushing the boundaries, challenging norms, and nurturing the next generation of innovators. I look forward to sharing more insights and developments with you as we navigate the exciting world of fintech and the emerging metaverse together.