Fintech Takes
Fintech Predictions for the Not-So-Distant Future, with Frank Rotman
Jan 3, 2024
Frank Rotman, Chief Investment Officer at QED Investors, discusses long-term predictions for the fintech industry. Topics include the impact of AI on the stock market, restructure of financial institutions' costs, modernization of intrabank settlement process, and the potential of stablecoins in money movement.
31:55
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Quick takeaways
- The stock market will undergo a complete overhaul in the next 5-10 years due to the accelerating trend of AI in trading, creating a disadvantage for retail consumers and requiring a rethinking of how it works.
- Financial institutions will completely refactor their cost structures in the next 5-10 years, with AI co-pilots potentially replacing or significantly changing many jobs, leading to a shift toward digital-only infrastructure to provide better products and experiences.
Deep dives
Prediction 1: Overhaul of Stock Market
Frank predicts that the stock market will undergo a complete overhaul in the next five to ten years due to the accelerating trend of AI in trading. He explains that the current system of buying and selling stocks is flawed, with new information coming in less frequently than stocks are traded. He believes that AI bots will take over trading, creating a disadvantage for retail consumers. This, coupled with the collapse of trading costs, will destabilize the stock market and require a rethinking of how it works.
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