In the spring of 2020, AI systems working for one of the world’s biggest credit scoring companies noticed an unexpected surge in online shopping, leading to the blocking of millions of transactions. This incident is a vivid foretaste of what could go wrong in the next 25 years as more and more financial transactions come under the influence of AI. Big banks and other institutions are already using AI for fraud detection, high-speed trading decisions, and more. In the future, AI systems could be used for complex investment decisions and personalised AI helpers could be as omnipresent and as closely tied to our sense of self as our smartphones.
