TLDR:
- Israeli tech industry remains strong amidst the challenges posed by ongoing conflict.
- Fintech Junction 2024 conference focused on the role of AI in finance and adapting to disruption.
- Fintech’s mission shifting from disruption to collaboration.
- Generative AI has limitations in dealing with sensitive financial data.
- Machine learning is the dominant technology in the present.
Despite the ongoing conflict in Israel, the tech industry in the country remains resilient. The Fintech Junction 2024 conference brought together industry professionals to discuss the role of AI in finance and how fintech is adapting to disruption. The conference highlighted the growing understanding of the role fintechs play in the industry. Startups, in particular, are finding opportunities in the gap between traditional banking and cutting-edge technology. The conference also focused on the limitations of generative AI in dealing with sensitive financial data. While generative AI has its uses in improving efficiency and within dev teams, it is not suitable for every developer. In the present, machine learning is the dominant technology in the fintech industry, with notable use cases in increasing transaction approval rates and detecting anomalies. Despite the challenges faced by the industry, the future looks promising and is driven by the constant buzz of innovation in finance.
