30% of Banking Jobs Threatened by AI & Blockchain
Industry experts believe that between 2 million and 6 million jobs will be lost over the next decade due to disruptive financial technologies like Artificial Intelligence (AI) and blockchain. Illustrating the potential, digital challenger banks such as Starling and Monzo can operate with 90% less headcount than traditional banks.
At the same time, there are massive opportunities in the FinTech space, with thousands of new ventures in all segments of finance. Recognising these simultaneous threats and opportunities, Saïd Business School, University of Oxford, has announced the launch of a new digital open enrolment programme on financial technology and innovation – the Oxford Fintech Programme. The programme helps executives to both launch new Fintech ventures and harness new technology to build better financial services firms.
The programme examines current and emerging technologies around money and payments, markets and consumer experience, and explores key ideas, principles, and frameworks around regtech, proptech and social inclusion. It covers topics ranging from blockchain and Artificial Intelligence (AI) to crowdfunding and quantum computing.
The programme has been launched in collaboration with GetSmarter, a wholly-owned subsidiary of 2U, Inc. (NASDAQ: TWOU) a global leader in education technology.
‘Technology and the mobile revolution are rapidly transforming financial markets, institutions, and business models. Drawing upon the expertise of leading academics and practitioners from Saïd Business School, our new digital Fintech programme, supported by GetSmarter, will provide entrepreneurs and executives with the insights and knowledge necessary to navigate this changing landscape, and adapt and progress in their careers,’ said Peter Tufano, Peter Moores Dean and Professor of Finance at Saïd Business School.
Speaking on the partnership, Rob Paddock, Chief Academic Officer and Co-Founder of GetSmarter said this was further validation of their company’s technology that ensures students get the same quality of education online as they would in person: ‘We are honoured and proud to be working with Saïd Business School, University of Oxford, one of the world’s oldest and most respected institutions, on this dynamic, new online Fintech open programme. Students will learn from internationally-recognised Saïd faculty, who bring hands-on industry experience and expertise to the curriculum and programme development, while utilising our Online Campus – a user-friendly, collaborative, people-mediated approach to online learning design.’
Designed as a hands-on, experiential programme, it is being run by Nir Vulkan, Associate Professor of Business Economics at Oxford Saïd and David Shrier, business author and CEO of Distilled Analytics – both leading authorities on fintech. The programme also features academics from the UK and the US, and over 60 curated expert perspectives from banking and technology guest speakers such as Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore, and Anne Boden, CEO at Starling Bank.
The programme will begin on 9th October, 2017, and run for 10 weeks in total.