The world is changing by Caio Ruiz

The world is changing, and changing fast. Since the 2000s, we have been going through major changes in the most diverse areas, such as social fields, politics, medicine, industry, and even the advent of artificial intelligence being released to the common people.  In this scenario, it is essential to highlight the evolution of AI, how mass communication changed, and how fintech has substituted traditional banking.

At first glance, the accelerated evolution of artificial intelligence came with the main concern being whether this is a good or bad thing, since we achieved great things with AI, for example, students have more options to learn efficiently. On the other hand, AI is now capable of reproducing human images with accuracy, being able to create fake videos about celebrities, for example. Not only that, but AI also has ethical issues, especially because it conceives biases and relies on data (not actual thinking capabilities), according to Forbes.

Besides AI, communication and mass communication are completely different from 25 years ago.  In a time that mass communication was unilateral (the press or news were responsible for sending messages via journal, television, or mail), people couldn't talk to each other the way they do now, in a multipolar world, where an individual can “post a thread” and 500 million people can read, comment and interact with other viewers by just pressing buttons on their cellphones.

Finally, digital banks are taking over the world, as they propose a low-cost operation, which leads to a high-competitive market with more available products, such as credit, loans, and financing. They innovate by, for example, Peer-to-Peer loan companies, companies that operate loans and financing.” This kind of business operates credit via an electronic platform, and the funds collected by the creditors are directed to debtors after negotiation” (Central Bank of Brazil about P2P loan companies). The institution isn’t allowed to give loans using its own money or invest in banks. Because of that, it needs a way to show lenders clear and fair information about how risky it might be to lend money to certain borrowers, different from traditional financing, that the banks are allowed to lend their own money and intermediate the operations, with high fees.

Concluding, the world is in high technological development, and nothing is like we are used to. Constant changes, a higher pace in people interactions, and new and cheap ways to get loans. Suddenly, the world is different, and learning how to adapt to those changes is substantial.