Forrester’s Top Emerging FinTech Innovations: What You Need To Know

Recently, the global technology research company Forrester released their report on the top ten emerging technologies for 2024. This report offers a fascinating look at the future of financial services, insurance, and various other industries. Some technologies are expected to be available within two years, while others may take five or more years to mature. It's an exciting glimpse into what's on the horizon. 

At Magnet, we're storytellers who believe that compelling narratives can be experimental, futuristic, and resonant, especially when using the right tools. We’ve reviewed the Forrester report and have identified our top 3 takeaways to help financial services brands identify future tools to tell their stories in meaningful ways.

1. Generative AI For Visual Content

• Why It Matters: As Forbes noted, "AI-generated visuals offer a level of creativity and customization that was previously unattainable at scale."
• Magnet POV: Tools that enable teams to rapidly create custom visual content can lead to more unique customer experiences. Unique experiences help brands differentiate themselves from the competition.

‍2. Generative AI For Language

• Why It Matters: According to AI firm Folio3, “At its core, Generative AI services enable AI-powered language translation that goes beyond simple word substitutions. It comprehends the contextual intricacies, idiomatic expressions, and cultural nuances that make language rich and dynamic. This deep understanding ensures accurate, meaningful, and culturally sensitive translations.”
• Magnet POV: Whether telling brand stories or improving the customer experience, the usage of AI in communicating messages across languages ensures that messages are culturally nuanced while ensuriung that nothing gets lost in translation.

‍3. AI Agents

• Why It Matters:  As stated by Finley AI in an April 2024 LinkedIn article, “AI agents are not just reshaping but revolutionizing the finance sector, offering insights and functionality that go far beyond what traditional Large Language Models (LLMs) can achieve.”
• Magnet POV: AI Agents allow financial institutions an opportunity to provide well informed and trustworth information to their customers 24/7, while matching unique users with personalized products and assistance. 

Interested in the full report? You can check out Forrester’s Top 10 Emerging Technologies For 2024 here. 

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