Today, Marstone, Inc., a leading, independent digital wealth management platform, announced its partnership with the World Economic Forums (WEF) Centre for the Fourth Industrial Revolution. The center, which develops policy frameworks and advance collaborations to accelerate the benefits of science and technology, works across nine focus areas, with Marstone specifically collaborating on artificial intelligence (AI) and machine learning in finance.
AI has the potential to revolutionize how we understand peoples financial behavior, said Margaret Hartigan, co-founder and CEO, Marstone. As the technology improves, it can help us better understand the wants, needs, and biases of individuals, enabling us to make better recommendations and / or provide smarter services to them. At the same time, though, there are risks that regulators need to understand in this emerging space, particularly with regard to data integrity and security. We look forward to working with WEF on crafting sensible policy solutions for the advancements to come.
Marstones enterprise-ready solution enables financial institutions to efficiently and affordably reach, acquire, and retain clients who seek straightforward information and engagement around their finances. Marstone will work with WEFs Centre for the Fourth Industrial Revolution to optimize accountability, transparency, privacy, data integrity, and impartiality as advances in machine learning increase the scope and scale of AIs deployment in finance.
The positive impacts of AI and machine learning can be seen across countless industries, and finance is no different. But with these technological advancements come challenges that are particularly detrimental to the industry, especially in regards to data privacy, trust, and biases, said Murat Sonmez, head of the World Economic Forum Centre for the Fourth Industrial Revolution. We look forward to tapping Marstones expertise in the space to mitigate the challenges and accelerate the benefits of AI and machine learning in finance.
About Marstone Marstone is a leading digital wealth management platform with a mission to enhance financial literacy, deepen financial inclusion, and humanize finance for all. Its enterprise-ready solution, Powered by MarstoneTM, enables financial institutions to efficiently and affordably reach, acquire, and retain clients who seek straightforward information and engagement around their finances.
As a proven and trusted technology partner, Marstone has comprehensive integrations with custodians including Pershing, core banking platforms including Fiserv, account aggregation platforms, and investment managers. These integrations, in addition to Marstones partnerships with globally recognized foundations including the World Economic Forum Centre for the Fourth Industrial Revolution and leadership participation in the Milken Institute’s FinTech Advisory Committee, provide organizations the opportunity to deploy a technology that will help future-proof their businesses as consumer expectations for digital wealth management evolve.
About World Economic Forum Centre for the Fourth Industrial Revolution Based in San Francisco, the World Economic Forum Centre for the Fourth Industrial Revolution brings together governments, leading companies, civil society and experts from around the world to co-design and pilot innovative approaches to the policy and governance of new technologies. The Center will develop, implement and scale agile and human-centered pilot projects that can be adopted by policy-makers, legislators and regulators worldwide to address challenges related to emerging technologies.