Hi folks, this is a module in the AI First Engineering. Here now we're looking on AI and banking, or AI First and Banking. And we will, of course, this is all in the context of using deep learning to implement AI. This is divided into the modules. The first modules discusses what's happening to legacy banks. So they're interesting. They may be not doing quite so well as they used to, but actually they're taking the newer banks and buying them up. So they actually have a reasonable plan to be positioned for the future. I folks here is a little summary of the types of AI that one might see in banking. Here we have a natural language processing, chatbots and things like that. Image analysis interpreting your check or complex mortgage documents which have been buried and underground for 100 years. A robotic process automation, whether it be by robots or just automating some workflow. I did not personally know the difference with the predictive analysis and machine learning. They're actually both those two are the top two and whether they're different or the same. It means that this whole area of using sophisticated analysis to run through all these, all these huge numbers of numbers they have and mine out nuggets from which stock to buy to. Some harbinger of somebody about to default or something like that. So we will go into more details in the following slides. Thank you. All right. So here is just a few news quotes. Here from January the third year of this year and here's Lloyd's closing announcing closing. And which of course they were ready. They were ready to be quite a few bank closings and said actually the 3300 branches were closed in the last four years and the United Kingdom and lots of ATMs. Because people don't use cash as much and the one the ATMs that remain getting more expensive because they know longer can presumably. They're no longer enough free things they can get from persuading people to use them. So this is hardly surprising. This is the change in from a physical bank into an electronic and purely digital electronic bank. And nowadays there aren't so many things you need to go to banks for maybe loans, changing currencies, but and depositing checks. You don't get so many checks most electronic transfers. And so there's not not so many reasons for a physical bank. There's some but not so many as they used to be. Here's another story from December last year about an Italian bank the largest which is cutting jobs and branches. And of course they need to replace it with the digital service and they have this one that usual problem of retraining their staff to accomplish this. Here is another set of statistics here is the branches of bank America over the last 10 years. They're not going down dramatically but it's certainly whatever it is. It's about a 20% effect for the uniform. No nothing special recently. Here is a little larger effect in the United Kingdom over the last five years. It's about four or four and a half years. Then the Royal Bank of Scotland is close 74%. And Lloyd's is only only close 31%. We had a story about them earlier. So there are a lot of, let's seem to be rather more closing in the United Kingdom. Here is sort of story of Citibank a major US bank and there are three sort of related things. The amount of contact with the people at the bank that is declining 6% over two years. Here is the amount of use of electronic statements growing up by by 7% and here is the online banking growth which is some of some of larger amount. And that's for both mobile and laptop. I mean desktop or general digital customers. That was from January this year. Now here is sort of general statement that AI will cut the back size of bank stuff. Notice they use AI pretty generally. I would call some of these things they call AI and just straightforward IT. Just getting the computer to do things that people otherwise do. And so according to this use report, Dutchist banks loses the largest jam on European bank. It cut 18,000 jobs and then there's meant to be 200,000 going down over the next decade. And you say as far as AI, this is manual work. But it's still all part of the digitization of the industry. I affect all industries. Here is a sort of government sex as a very good reputation. It's a pretty major not a consumer bank but a business bank or a rich people bank. And it's done quite badly and the purpose of this story which comes from the economist is that it's due to the fact that they didn't have a good strategy on the AI and digitization. And what they call more generally technology. And it is done much worse than some of the standard US banks. Although European banks have done even worse. At least our government sex was profitable and increased before the current crisis. Whereas Dutchist bank actually made the loss which is I think the largest European bank. Okay folks, here is a sort of related story about we've had several stories about jobs loss. When it tries to quantify it over the next 10 years. It says the standard banks are meant to reduce the head count by 9%. Unfortunately this is a third of a million people. And then the FinTech which is this highly digital AI-oriented component of small startups. It grows by more 90%. Unfortunately the FinTechs are only 5% of the legacy banks. And so this is only an increase of 37,000 jobs which is 10% of the loss. Notice that banks have this ingenious strategy of financing the FinTechs. They get, make loans to FinTechs. Then they see which FinTechs win and then they just buy them up. And then they have a bank which is FinTech enabled. Okay, so here are the real numbers. 2022 there's actually an increase predicted for incumbents. And an even bigger increase for FinTech. The FinTech increase grows up to 2025, 2030. And this increase here may not happen if we have the truth of the virus. It actually turns into a decrease by 2030. So this gives you a solid picture of this general feature that technology and AI and big data will lead to enhanced number of a certain type of job and a decrease in another type of job. Okay, that's the end of this module. Thank you.