Bakkt

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Bakkt (BKKT): Company Profile, Stock Price, News, Rankings

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Bakkt | Fortune

Bakkt (BKKT): Company Profile, Stock Price, News, Rankings | Fortune

[ MUSIC ] AI is a much- used term, and I think everybody has a bit of a different definition of what it is. A lot of the applications that we see today are really machine learning Or even something that's a bit of a precursor to a robot's machine learning program but still very insightful. There offer new kinds of business analysis. AI can be a very exciting future for financial services. Think about it's use in investing versus what the human brain is able to do. With the use of technology we can have more customized investment portfolios. Better suited to individuals needs that don't panic and downturns that, I think can do potentially a better job than so many active managers have done for investors today. So using AI Well, to me is just like any tool, it has to have the right application for the right purpose. And you have to do it in an endeavor to to have a better outcome for the customer. Things like machine learning are going to be core to how we develop a product that suits our customers needs. Has been proven to be a powerful tool and the way we think about artificial intelligence and machine learning is really across all of our businesses, not just in our sales and trading operation but also in our wealth management. And it's Investment Management Information. I think the whole notion of machine learning, accelerating and augmenting human intelligence and learning from patterns quickly is something that we're seeing help in multiple industries so that you can really add nuance But with body of fact. [ MUSIC ] We need to remember though, that those systems are created by people and inherit the biases thereof. And so we can't say Simply trust what comes out of a so called AI system as though it's inherently smarter than us. And we need to constantly be checking that with our view of reality and the world. We'd like to create. The challenge with AI and one of the things we're addressing challenge with all technology and one of the things we're addressing these elements is the inherent bias. Machine learning AI. Basically looks at historical data. And if historically speaking, industries have been discriminatory, you could end up kind of perpetuating that discriminatory behavior if that's what it's learning from. We need to be really careful with what we are asking the machine to do and how we are thinking and evaluating what the machines are doing. I think AI information has to be also regulated. That. I'm not talking about over regulation, right? Don't understand me wrong, but it's really misuse of the information as to be regulated in sake of the people.

How A.I. Continues to Impact Financial Services

Finance

A.I. Continues to Impact Financial Services

As explained by executives from some of the world's biggest financial institutions, and cutting edge fintech companies.

[ MUSIC ] When you think about where millennials are gonna invest their money over the next couple of decades, I think that there is a really interesting transformation that's happening in the financial markets where they're gonna have available To them globally a whole new category, a whole new group of investment opportunities that didn't exist in our older generation. Things, in large part, to something like digital currency and blockchain. When I speak to kind of an older generation, digital assets like Bitcoin or Ether are foreign, are strange. They challenge a whole bunch of preconceived notions around what is money and is it even legal or not, but I think for Millenials and the younger generation that they're being brought up in an environment where Crypto's been around since as early as they can remember. I do think that Crypto assets are gonna be a part of their investment thesis in their portfolio, going forward, and it's largely because they came up Along with the development of the asset class. [ MUSIC ] Millennials, I think, look at money in two different ways, my view. One is it depends upon how much money they have. So on the lower end, when you talk about smaller amounts of money, I think they're looking for only about [ UNKNOWN ] It's Robin Hood. It's places like that that are really coming on the scene and taking a digital First approach. But individuals, even millenials, they want advice, they want people who are gonna sit there and be their advocate. Because they want to as they accumulate wealth, they wanna make sure to do and making the right decision. So I do think there's still a bifurcation when you are talking about real dollars for or smaller dollars, right. And I think that's the big difference. I think there's two types either they're like super optimizers, and they take pride on that. So they're the type of millennial that uses like, the best savings accounts with the best APYRA. And they have six different credit cards they're optimizing A lot of it and then the other set of people are people who just want to use it as and friendliness a day to day. So I think one there, they're going to park their money everywhere. As soon as someone razor reduce the rate, the other set will choose the one that's easy. And most simple base on their current [ UNKNOWN ]. [ MUSIC ] I think what millennials focused on first is being treated as a customer. They've grown up in a digital era where information and Accessibility is fast and quick. And they expect it to be treated like an individual, not a number. So companies who can deliver on that customer value proposition I think win with millennials in the future, whether that's large banks or small startup. They. They want their money to have a positive impact. They're actually beginning to realize their money is having an impact even if they don't mean fortune. That if their money is over at XYZ bank in a deposit and they're making loans to gun manufactures. Right, you know their money is having that effect. So either their money can have the positive effect they wanted. Too, or it can have an effect that they're ignoring on the fact they might not want. I love it because millennials aren't, don't want to compromise in the jobs they take. I want a job where I'm paid, you know, competitive wage and we have a positive impact. I'm not willing to take a pay cut for it and I'm not willing to work at something where I don't see the positive impact. Go millennials, go Gen Z give us help. Give the baby boomers help, we're cool. [ BLANK_AUDIO ]

Where Are Millennials Investing Their Money?

Ellevest’s Sally Krawcheck, Bakkt’s Adam White, SVB’s Greg Becker, and others, chime in.  

[ MUSIC ] [ LAUGH ] I don't know what the future of Bitcoin is. [ LAUGH ] I have no idea. Anybody else think they know? The future of Bitcoin? [ LAUGH ] I'm so torn. No one knows exactly what the future of Bitcoin is, but one thing that's for certain is it's not going away. The technology is out in the wild and it's Being learned from and modified. And then some incarnation, the problems that it solves and the things that people need out of it, it will stick around. It's hard to say, right? I mean, there's a lot of competition coming from other cryptocurrencies. Some people see Bitcoin as a store of value. Everyone should be buying it to hold it to prevent against global meltdown with governments. I let people believe that. You know bitcoins meant to be a cryptocurrency peer to peer payments etc. So it was a different view of it. I think it will end up being a better way to store value in countries where the currencies like pretty volatile. Bitcoin has all the same attributes as gold, it's finite and supply itself. Scarce, divisible, it can't be counterfeit, but what Bitcoin lacks in history and arguably cultural significance, it more than makes up in accessibility and utility. The coin is creating a whole new set of potential rails. You can move money around the world. You can make micro payments. Anybody who has a mobile device can now save money. And that's super powerful. [ MUSIC ] I look at it as the genies out of the bottle. And what we see is not just that Genie being blockchain or crypto, but the fact that what we previously thought of is only in the domain of kind of sovereign nation states like money now via technology in software. We can do and accomplish in a decentralized way. I think blockchain is definitely an interesting processing model. Coins and currencies has to be issued by central banks. That's what I believe. It's we're controlled by governments. It's not controlled by an entity. It's hard to regulate it. And it's hard to avoid anti- money laundering. Finding how to manage this is important. Blockchain can help there, but Bitcoin, I don't think it has a long run. The role of Bitcoin is growing as a non- sovereign Digital store value that is your private and unsensible and I think that's highly compelling for many, many people all around the world. My expectation will be that it will grow both in terms of its value and it will grow in terms of its. Ultimate utility. [ MUSIC ] [ BLANK_AUDIO ]

The Future of Bitcoin According to 8 Executives

Some are bullish, while others are bearish.

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