The last few years have seen the emergence of artificial intelligence solutions in various sectors. Companies have been leveraging ai tools to reduce costs, increase efficiency, and sometimes improve results.
In a survey that Forbes conducted on theai-in-business/” data-wpel-link=”external” target=”_blank”> application of ai in the workforceA whopping 64% of respondents anticipate that ai will improve customer relationships and increase productivity, while 60% believe it will drive sales growth.
With the prospect of ai solutions being integrated into current business processes, we sat down with Flavio VillaCTO of a MENA-based fintech company creed and bearto learn more about the potential and applications of ai in financial services and how Creed&Bear is poised to capitalize on it.
How do you imagine the future of ai and its impact on the world of finance?
I think there will be stricter regulations around generative ai and that the world will take them more seriously. I think everyone will have a competitive advantage driven by ai, and that's a good thing. That will eventually drive greater innovation.
Especially in FinTech, ai will speed up the most repetitive, manual and time-consuming work and also improve the likelihood of generating good quality results.
Have you explored the potential applications of your ai technology beyond traditional sectors? If so, what other industries or domains do you think it will apply to?
What we have developed at Creed&Bear is basically an ai engine that can run on different data sets, which is currently being applied to cryptocurrencies, but can also be used to study weather data or other types of data sets.
So yes, we can scale our technology and our vision outside of traditional sectors because the ability of our ai to understand, process and clean data is incredibly huge.
We have already explored the possibility of using our core ai engine outside of traditional sectors. For example, we ran a test where we were able to calculate the performance of a famous soccer player (from a very important soccer team) in his next match with very precise accuracy.
What changes do you see for Blockchain/Web3 in the near future?
The concept of blockchain as we know it today will completely change in the future. The reason is that the technology behind it is advancing faster than adoption. For example, a year ago the world was talking about NFTs and how they were so technologically advanced that they could transcribe the real world into digital. But today we talk about generative ai in the same way. In short, we know that blockchain technology will advance rapidly and that change in this space is constant.
How did you manage to position Creed&Bear as a technology leader? What strategies or approaches did you employ?
We positioned ourselves as a leader by prioritizing one aspect of our business: investing in ai and ML research and development. Its adoption is gaining momentum in the financial world.
Heai-for-asset-management” data-wpel-link=”external” target=”_blank”> global market ai investment in asset management was worth around $2.6 billion in 2022 and is expected to expand at a compound annual growth rate of 24.5% between 2023 and 2030. That's a great indicator of adoption. Of course, at Creed&Bear we are already a few steps ahead, but we want to be light years ahead.
Our ai-powered data analytics helps us extract meaningful insights from up to 40GB of data per second, but the thing is, that number keeps growing.
Can you provide us with a concise summary of your background and experience?
I am an inventor. I like to create and build. I started in software development and founded a software development company in the early 2010s.
Then, when my interest in entrepreneurship was stimulated, around 2012, I tried different trading strategies for traditional financial instruments. Fast forward to now, I lead the technology division of the company along with my extremely talented and highly experienced team. My experience lies at the intersection of software development, data analytics, and commerce.
About the company
Founded in Switzerland in 2012, Creed&Bear is a FinTech company focused on integrating the technological innovations of tomorrow to address today's financial challenges.
To learn more, follow the company on Twitter and LinkedInas well as on their website – https://creedandbear.com/.
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