Tech Trends and their Relevance to Cash and Payments

McKinsey’s has published a list of the top 15 tech trends to follow. Chris Skinner, an independent commentator on the financial markets and an author, highlighted this recently in his blog, TheFinanser.com.

The trends are:

• Generative AI
• Applied AI
• Industrialising machine learning
• Next-generation software development
• Digital trust and cybersecurity
• Advanced connectivity
• Immersive-reality technologies
• Cloud and edge computing
• Quantum technologies
• Robotics
• Mobility
• Bioengineering
• Space technologies
• Electrification and renewables
• Climate technologies beyond electrification and renewables.

But how many of these are directly or tangentially relevant to the Cash, Payment & CBDC audience? Perhaps more than you think.

For payments almost all of these apply since they should enable digital payments to evolve and advance. While some focus on payment efficiency, security and resilience, others open up the possibility for new forms of payment.

Generative AI describes algorithms (such as ChatGPT) that take unstructured data as input (including images) to create new content.