Are roBOTS the next technology focus for banks?

Are you irritated by Apps automatically updating and consuming your battery power by themselves on your smart phone? It might happen next generation mobile device infrastructure solves this problem. Remember Apps are installed on your mobile device, like old fashion software application.

1990’s

Some 20 years ago one bought application in the shop, received a CD and user manual and installed the software from the CD. The processor power was your computer or local network server.

2000’s

Then the web application hosted in the cloud took over and no need to install anything on the computer any longer. You needed only a web access and browser, the processor power was on the hosting server in the cloud.

2010’s

But when Apple launched App Store we went back to old days thinking, installing application on your device, using processor power on your mobile device. The apps need to be updated with last versions from time to time.

2020’s

Next move seems to be back in the cloud, also for mobile devices. Social media like Facebook and WeChat is more and more depending on text message infrastructure like the Facebook Messenger and WhatsApp (more than a trillion monthly active users). As Mark Zuckerberg of Facebook told us 12^th April, the next step is to add robotics on top of the text message infrastructure. Bots is short for robotics. Bots are usually powered by artificial intelligence that “understands” a text message. Bots are stored on cloud servers, NOT in your mobile device. And it uses a new business model, based on micro payment. Bots are MUCH faster than Apps, and have processor power thousands times of average Apps on a mobile device. This enables bots to analyze and make decisions for you on a more advanced level than an App.

If you want move money from one bank account to another, send a message to your bank “transfer 100 € from my main account to my saving account”. Or “pay Peter Pan 100 € tomorrow”. There are some security issues of cause, but this will be solved.

If you need a flight ticket send a text message to SAS “Book a flight next Monday around 10.00 from Copenhagen to Stockholm.”  The artificial Intelligence logic inside the bots choose what’s best for you and know your preferences, might  have access to your calendar, and the people you are supposed to meet. This takes you a few seconds, compared minutes to using the web or App today. And you will trust the bots to do excellent decisions on your behalf.