A few things that caught my eye from the second day of Money 20/20:

On artificial intelligence

• AI powered personal assistants like Alexa will be your proxies in the real world, curating offerings based on your preferences while shielding you from undesirable ads. Think of the movie Her.

• Slow adoption within companies can be attributed to negative perceptions (think Skynet from Terminator) as well as failing to understand and explain how the AI reaches a conclusion.

• The next big tech companies will be underpinned by AI.

On open banking and APIs

• The biggest challenge to developing APIs has been data and payment rail access. The business model for open banking is not new, we're just seeing an effort towards standardisation.

• Standardization is the key to growth and widespread use.

• API are not the end all to open banking but a means to an end – nowhere is the term mentioned in PSD2.

On ICOs

• Numerous comparisons can be drawn between the dot-com bubble of the late 90’s and the ICO craze of late.

• Surprisingly, one panelist commented that the lack of regulation is not the problem in the ICO space. Rather, there’s too much regulation; make it fit in the existing frameworks.

On security

• Chinese powerhouse Ant Financial takes data seriously; employees spend one fifth of their time on information security.

On insurance

• There is a disconnect between insurance penetration and mobile penetration, where the high rate of the latter presents a great sales channel for the former.

• Some advantages for telcos selling insurance: increased loyalty and spending as well as leveraging existing unique customer data.

• Major advantage for insurance companies partnering with telcos: access to a large digital sales channel.

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