Five technology trends in finance in 2024

Generative artificial intelligence 🤖 exemplified by tools like ChatGPT, is gaining prominence, promising enhanced efficiency and client satisfaction. Financial institutions are expected to embrace generative AI for targeted use cases, aiming to optimize client experiences, manage risks, and automate repetitive tasks.

Another major trend is the continued rise of tokenization ♻, which gained momentum in 2023 across various products like bonds, investment funds, real estate, and private equity. The leading custodians are gearing up to offer digital custody, with expectations that 2024 will see further achievements and increased liquidity, solidifying tokenization as a tangible reality. Additionally, the crypto world 💱, despite past setbacks, is showing signs of institutionalization, fueled by increased prices, regulatory advancements like Mica, and the potential launch of a digital euro. In the realm of cybersecurity 🔐, the emphasis is on building robust systems by design, considering ethical factors, as highlighted by the recent development of ChatGPT and AI. Lastly, the finance industry is increasingly focusing on environmental, social, and governance (ESG) issues 🌎, driven by client demand and new regulations. The combination of artificial intelligence and blockchain is poised to contribute to this ESG movement, reflecting a broader commitment to creating a better, more responsible world. The key to success lies in embracing change and working collaboratively to drive innovation in 2024.