FinTech Ethics and Risks | HKUx on edX.org


[REEL NOISE] [MUSIC PLAYING] GR. VSVID L. BISHOP: Hey, listen,
we have a decision to make. CR. VSVID S. LEE: Humanity
stands on the edge of a massive shift in
technology and productivity that is going to
fundamentally alter our lives. GR. VSVID L. BISHOP: Blockchain, big
data, artificial intelligence, these buzzword technologies are
rapidly changing our world, just like the steam engine that
started the Industrial Revolution. CR. VSVID S. LEE: Over the past century, new
technologies have changed how we work and even how we define work. GR. VSVID L. BISHOP: During that time,
the average number of hours worked has steadily declined
in the developed world. But lifestyles have generally improved. CR. VSVID S. LEE: And the
technologies on the horizon look to completely alter
society as we know it. GR. VSVID L. BISHOP: So
here’s the cool part. If we get the next 10 years right,
humankind could be well on its way to reaching that type of utopian
existence characterized in many stories about the future. CR. VSVID S. LEE: This is especially true
in the area of financial technology. GR. VSVID L. BISHOP: And while maybe not
as sexy or cool as driverless cars, advancements in FinTech
will make it easier to send, receive, and invest money. CR. VSVID S. LEE: These are at the
core of business and commerce. And Fintech stands to alter
these interactions completely. GR. VSVID L. BISHOP: But before we dive
headfirst into this brave new world. CR. VSVID S. LEE: It’s critical
to ask a few questions. GR. VSVID L. BISHOP: Like, why? Why is blockchain technology necessary? CR. VSVID S. LEE: Is faster,
cheaper, smarter always better when it comes to data? GR. VSVID L. BISHOP: What
unintended consequences will arise from introducing artificial
intelligence into everyday life? CR. VSVID S. LEE: You see,
unlike the steam engine, the magic of these new technologies is
that they can scale faster than ever and quickly engulf the entire world. GR. VSVID L. BISHOP: And while they may have
the power to unite and transform they can also be used to bind and control. CR. VSVID S. LEE: Advancements in
technology over the next decade will certainly lead to massive job loss
and many fewer new forms of slavery, surveillance, and crime. GR. VSVID L. BISHOP: Now is the time
for us to consider what we want and what we will allow. We can’t wait until these new
technologies are fully developed. Once we push play, we can’t just rewind. CR. VSVID S. LEE: If we don’t talk
about it now, it will be too late. GR. VSVID L. BISHOP: This
course is a chance for us to consider these questions together. Through it, we hope to explore
the implications for us individually and collectively. CR. VSVID S. LEE: We live in a world
where distance is relative. And resources are growing
scarcer, where local problems now have global implications. GR. VSVID L. BISHOP: Humanity may stand on
the edge, but we stand on it together. BOTH: So join us as we
consider these tough questions that help shape our collective future. [MUSIC PLAYING]

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