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Robots Read News – About Bankers

Robots Read News – About Bankers

    If your corporate firewall is blocking the image, see it on Twitter here. (I can’t see the more specific link for some reason.)


    Here’s one example of an app-bank. I assume there are others.

    In 2015 it could be said that banks are in the business of creating friction between customers and money, bamboozling customers into thinking the friction is somehow keeping them safe, then charging for it. 

    That would be an economist’s way of looking at it once there are apps that do nearly everything you want a bank to do, but without all the friction. A bank is a real business if you compare it to keeping money in a coffee jar. But if you compare it to an all-software solution, maybe with some blockchain awesomeness in the mix, then traditional banks will literally be charging customers for inconvenience.

    I think existing banks will be decimated (reduced by 10%) within a year of the first app-bank that gets traction. It might take several app-banks to handle lending, deposits, money transfer, and all the rest. But there will be little need for “bankers” in the process going forward.

    On the Berkeley Start-up Blog, see how an app and a slick device from Blowfish Health can help prevent deadly asthma attacks. I wonder what it is like to work on a start-up that could save lives. That must feel good. 

    On Top Tech Blog, new AI software can examine a photo and describe what is going on. Seems handy for blind people, but I don’t know if that application is yet contemplated.

    And NASA plans to send a “flying saucer” to Mars. I guess sometimes man does bit dog.

    Does the graduate in your life have the best career guide ever written? If not, you can fix that situation. See what other readers say.



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