AI and Your Money

The interaction between automation and personal finances has been increasing in pervasiveness and complexity since the 1980s when digitized financial trading really started to become the norm. However, automation has, with an explosive pace in the past 15 years, also become the norm for personal finances. It is no longer just the banks, insurers, and large financial institutions who benefit from, are at risk from, and rely on automated digitized processes. Very little of the modern financial system exists outside of a fully digital ecosystem. Increasingly, AI systems, or at least algorithmic decision-making systems (which may be based on complex rules, rather than machine learning), have become more powerful and increasingly accessible.