In a decade's time, there may not be a single bank branch, but that doesn't mean all your assets are going to managed by robots. Not yet, at least.
"I think the bank's going to be in the palm of your hand" in 10 years time, said Lucy Gazmararian, associate director, PwC Hong Kong, at CNBC'sTo be clear, the shift is firmly underway with many financial institutions long having offered online-only services. But younger generations have grown up with decentralized digital banking, and they'll continue asking for new online services in lieu of traditional offline ones, Gazmararian believes.
What exactly they'll look like is anyone's guess, but machine learning and the technology beneath cryptocurrencies, including, are revolutionizing everything from customer service to asset allocation. Even so, there will still need to be humans overseeing much of what financial institutions do for the foreseeable future, Lu said.
"Time's too short, we'll still have to wait to see" if robo-traders can take over completely, Lu told CNBC's Deirdre Bosa on Tuesday.
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