The Nobel Prize for Chemistry was awarded to the developers of AlphaFold. The Nobel Prize in Physics was awarded to pioneers in machine learning. AlphaFold, by the way, uses AI to predict the 3D shape of proteins based on the amino acid sequence. This is one more significant illustration of how important and pervasive AI is becoming.
Let me be clear, I am not predicting credit unions will be opening new VP positions for protein folding experts. But AI will completely change banking, your organizational structure and the nature of work. AI will be everywhere.
Financial institutions have been making a transition to technology companies specializing in finance and banking. The next transition is from tech to AI. It’s a science fiction future but one can imagine an AI based credit union operating in the cloud completely independent of humans.
Buckle up credit unions. Here comes the future.
Author: Chris Doner, Founder and CEO, Access Softek