What comes to mind when you think about the future?
Some might argue that “The Jetsons” cartoon was our first view of the future. George Jetson commutes to work in a flying car, navigating effortlessly through cities and traffic, with virtual environments that enhance connection and collaboration no matter the location, and smart homes and appliances, where autonomous systems handle routine tasks and improve decision-making.
Whichever version of the future you visualize, money is one common thread that runs throughout all of them. Significant changes have occurred, yet some aspects remain unchanged.
The Jetsons movement
Examining the past provides a valuable context for envisioning the future. Two decades ago, financial technology was a new concept. Online banking emerged in the 1980s with the introduction of basic digital banking platforms, allowing customers to manage accounts and pay bills via the Internet for the first time. However, widespread adoption took nearly a decade.
Then came the iPhone, which, in 2007, ignited the smartphone era and fundamentally changed modern life. Mobile apps flourished as users gained the freedom to access services anywhere via their devices. This led to new on-demand business models, and mobile banking soon followed suit.
Over the years, increased mobile internet availability and affordability, technological advancements, and the evolution of global financial systems have not only changed how customers bank and manage finances but also enabled new business models, products, services, and competitors.
Could AI play a similarly transformative role by empowering innovations and reshaping habits and expectations? Its potential to foster greater inclusion, as fintech has expanded credit, savings, and other financial services to previously underserved groups, is a reason for optimism. The potential for AI to bridge existing divides in society is a reason for optimism.
The Jetsons meet the “iPhone moment.”
Is the future already here? The debate continues around whether the future is already underway.
AI has impacted credit unions for years through activities like back-office automation, fraud detection, and customer service. Recent surges in interest and funding for AI now provide an opportunity to rethink emerging technologies and how they impact our daily lives. It is time for all parties to be more responsible and inclusive of innovation, underscoring the urgency and importance of these principles.
Just as the smartphone revolutionized our lives, putting banking at our fingertips and inspiring new business models, we may be on the cusp of an ‘AI moment.’ This moment holds the potential to make financial services even more accessible and personalized—while addressing the needs of a diverse, global population.
AI’s potential goes beyond personalization—it could democratize financial access. By making complex tools available to those previously left out of the system, AI could enable an economic world where everyone has a place, from rural communities to emerging markets.
Empathy is often overlooked in tech-focused discussions, so emphasizing it is excellent, especially as people seek more human-centered support.
If the future becomes AI-led, how do we define and consider people’s needs? Who decides which need is adaptable or not—those already digitally included or the unbanked left out of the digital economy? These are the questions that will shape the future of finance and AI.
As we navigate this future together, AI can become more than a tool—it can be a co-pilot, helping us make financial decisions, build wealth, and achieve stability. But it will be our human empathy, creativity, and responsibility that shape its impact.
