“I thoroughly enjoyed this book. Having been a published AI researcher in the ’90’s, a banker in the ’00’s, and a fintech entrepreneur since then, I’ve seen this topic evolve and grow through multiple hype cycles. As we enter a new era where AI moves from the background to the forefront of financial services, success depends on understanding technology, data, regulations, and business requirements. Compounding this challenge is that each element is changing at an accelerating rate. Theo does an amazing job of providing the technical history, nuances of data usage, regulatory challenges, and tying it to actual business needs as opposed to hype. The beauty of this book is whether you’re a technologist, business leader, regulator, or service provider, you’ll learn something new and important.” (Sanjib Kalita, Chairman, Fintech Meetup and Founder & CEO, Guppy)

“Theo lays out a comprehensive primer examining the rise of artificial intelligence and its ongoing impact on financial services. This is an essential volume to have on your bookshelf as we all prepare for the raft of intended and unintended consequences from this rapidly emerging technology.” (Elizabeth Lumley, Award-winning Journalist, Podcaster, Keynote Speaker, and Moderator; All-round Fintech Expert; and Ambassador for UK Innovate Finance)

“AI isn’t just for large companies and tech giants anymore—it’s transforming how we work, bank, and live. And in true ‘Theo fashion,’ this book breaks down complex concepts into real-life insights, making AI as a technology and as a service accessible to everyone.” (Elizabeth Osborne, Chief Operations Officer, Great Lakes Credit Union)

“To truly harness the power of AI, every corporate executive and every employee must first become an AI risk manager—a critical shift that unlocks scalable, trusted innovation across the enterprise. As AI accelerates at quantum speed, this book delivers a comprehensive and insightful review of the transformative forces reshaping any industry, illuminating both the risks and the vast opportunities ahead.” (Paolo Sironi, Global Research Leader, Banking and Financial Markets – IBM Institute for Business Value)

“A must-read roadmap for anyone navigating the AI revolution and its impact on finance, offering crucial insights on how we can harness this transformative technology while ensuring no one gets left behind. Theo wonderfully balances the techno-optimism of Silicon Valley with the concerns of a humanist. For leaders, practitioners, and citizens alike, this book illuminates the path toward an AI-powered future that serves humanity rather than divides it.” (Jennifer Tescher, Founder & CEO, Financial Health Network)

There is no lack of hype around artificial intelligence. We have only begun to scratch the surface of what this powerful technology can do. While tech and financial services become more intertwined, cutting through the noise has become more difficult but also more crucial.

As a technology, AI is essential to advancing innovation, to creating efficiencies, and enhancing productivity while capturing opportunities by both incumbent financial institutions as well as fintechs. But it also comes with risks and potential for biases and disinformation, that can deepen inequalities and erode trust in our society. Responsible innovation must become part of our DNA and not as an afterthought.

This book provides a tailored overview of what AI specifically means for financial services, a highly regulated yet also disrupted industry. It investigates the current state of AI applications in financial services today along with the state of funding and partnerships between tech and banking industries. It also examines the key pillars of responsible AI and the importance of keeping humans in the loop. The book takes a deep dive into the use cases in the financial services industry, the challenges and opportunities, and the fragmented regulatory landscape. How can we effectively assess risks, and balance innovation and customer centricity with trust in AI in financial services? Can smaller organizations reap the benefits of the technology? How can institutions deploy AI responsibly and securely, and promote a fairer and more equitable future for more people? While data is about bits and bytes, the realities of AI is very much human. This book will help spark dialogue and collaboration as we journey into the future.

Theodora Lau is the founder of Unconventional Ventures, a public speaker, and an advisor. She is the co-author of The Metaverse Economy (2023) and Beyond Good (2021), and host of One Vision, a podcast on fintech and innovation. Her monthly column on FinTech Futures explores the intersection of financial services, tech, and humanity. She was named one of American Banker’s Most Influential Women in FinTech in 2023. She is a regular contributor and commentator for top industry events and publications, including Finovate, American Banker, BBC News, Fintech Times, and The Power 50. Her work has also been published by the Journal of Digital Banking, The Banker, MIT Tech Review, and Harvard Business Review.