To keep up with the ever changing technological advancements in the world, the bankers need to embrace emerging technologies such Artificial Intelligence, Blockchain technologies to successfully prepare for the future challenges in the banking sector.
“Artificial intelligence, Blockchain technology and increased trend of robotics are taking over the banking sector,” Former Deputy Governor of Central Bank, Dr. W.A Wijewardane told the 25th convocation of Institute of Bankers of Sri Lanka (IBSL) , held at BMICH yesterday.
Quoting a research done by an Ireland based institute , he said by 2020, with the adoption of Blockchain technology , the bankers would be able to save as much as US$ 20 billion.
Also noting that Blockchain as a hacker- free technology, he said bankers across the world are increasingly moving towards the adoption of Blockchain technology to provide a better service to customers.
“ Sri Lankan bankers should be mindful of emerging technologies and they just can’t sit back and remain satisfied with what they do now.”
He also stressed that machines will takeover the daily routine works, undertaken by human beings in the future, and lead to loss of many employment opportunities.
However he said, “Let machines run our daily routine work and let human beings run the future thinking and decide on policies and future course of economy of the country.”
More than 570 candidates out of 727 candidates who have successfully completed the academic programmes offered by IBSL received their diplomas at the 25th convocation of IBSL yesterday.
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