Yuen: Quantum computing transforms banking, demands resilience

Arthur Yuen noted that technological advancements, from AI to quantum computing, are fundamentally reshaping the banking business.

He emphasized that the question is no longer if new technologies will affect banking, but how effectively the industry navigates this transition to capture upside while controlling risks.

While AI offers faster insights and better services, and quantum computing promises unprecedented analysis speed, each new capability creates new responsibilities.

Better analytics demand better data, increased connectivity heightens cyber dependencies, and more powerful computing necessitates earlier consideration of resilience, security, and the future of cryptography.

The real challenge, Yuen stated, is to adopt technology in a way that makes banks not only more efficient but also more secure, more resilient, and ultimately more trusted by customers.

Yuen underscored that despite centuries of technological progress, banking remains fundamentally a people business, premised on trust and human interactions.

He acknowledged that while AI applications are improving, they still carry risks like bias and hallucinations, necessitating a 'human-in-the-lead' approach.

Yuen argued against framing technology as a contest between humans and machines, instead highlighting that technology shifts where human judgment is most critical.

The focus should be on achieving better decisions, superior service, and enhanced risk management.

As automation increases, distinctly human capabilities such as ethics, communication, and integrity become even more valuable, requiring future professionals to work fluently across both human and intelligent system interfaces.