As we turn the corner into a new year, the pace of change in financial services is accelerating faster than ever before. Being the chief technology officer for one of the world's leading financial technology companies, I'm right in the heart of it all, watching emerging tech unfold and gauging its potential impact on businesses and consumers.

From what I can see, areas like artificial intelligence (AI) and embedded finance are shaping up to do some remarkable things. In fact, I'm betting 2024 is going to be the year these technologies really hit the mainstream and find their place in wide-scale commercial use.

New digital capabilities are set to empower customers and challenge the old ways of doing business. There's a huge opportunity in 2024 to shake things up and snag some serious competitive advantages.

So, let's take a closer look at some key technologies and trends that I believe will make a big impact on our industry and society in the years to come.

AI in action

A lot of people talk about AI, but it's time to turn those words and ideas into real action. As we stand at the dawn of 2024, I'm struck by the transformative power of AI and its potential to reshape this industry.

Imagine a world where fraud detection isn't just reactive but proactive, powered by AI's ability to analyze vast amounts of data and spot patterns that elude traditional methods. We're not just talking about reducing losses: We're talking about creating a safer, more secure financial landscape.

Consider the possibility of streamlining complex processes within the financial industry, making them faster, more accurate and less prone to human error. It's not just about efficiency: It's about freeing up human talent to focus on strategic, value-added tasks.

And what about personalization? By analyzing customer data, AI can provide insights that help financial institutions tailor their offerings to each customer's unique needs. It's not just about selling more: It's about delivering value and building trust.

As we look ahead to the next few years, these aren't mere possibilities: They're realities that are taking shape right now.

Embedded everything

Embedded finance is poised to become an integral part of our daily lives, bridging the gap between financial services and our everyday activities.

I think about how, in the future, paying my kid's college tuition could be as simple as logging onto the college's website or app. There would be no need to navigate to my bank's site, write checks or make wire transfers. It's all integrated right there within the educational platform itself.

But that's just the tip of the iceberg. Think about your favorite online retailers. In the future, they might offer personalized financing options tailored to your shopping habits and financial profile at checkout.

And it's not just about payments: Embedded finance has the potential to weave financial services into every aspect of our lives. The possibilities are endless, and the benefits are clear. For consumers, embedded finance offers convenience, speed and personalization. For businesses, it provides new revenue streams, deeper customer insights and the chance to build stronger relationships.

Of course, there are challenges to overcome, such as ensuring the security of financial transactions and scaling these solutions to handle a high volume of transactions. But the potential rewards are significant, and the momentum behind embedded finance is growing.

Tomorrow's talent

As we look to the future, I also reflect on the evolving landscape of the technology industry. I've worked in this field for years and watched as the emphasis has gradually shifted away from traditional education towards skills and experience.

The measure of a technologist isn't necessarily in their degrees or certifications but what they have built and created. It's in these tangible results – innovative solutions and resolved problems – that the true value lies. Now, don't get me wrong: College can be a valuable experience, offering more than just a formal education. It's a platform for networking, a hub for diverse ideas and a structured environment for learning.

But when it comes down to the nitty-gritty of working in tech, the most crucial skill isn't something you'll find in a textbook. It's adaptability, the ability to learn quickly and apply new tools effectively. As technology evolves at an unprecedented pace, understanding the latest tech isn't enough. You need to put it into practice and solve real-world problems, which requires a deep understanding of its capabilities. It's not about how the tool was created, but what you can do with it.

Creativity, too, is an undervalued asset in our industry. With technology becoming more accessible, the ability to think outside the box and develop innovative solutions has never been more critical. I've seen entrepreneurs from all walks of life with diverse backgrounds succeed in technology because they dared to think differently.

"I see a future where skills and experience take center stage, where creativity and real-world application are valued above all else. "

Whether you're honing your skills in a classroom or the field, there's a place for you in the tech industry. The key is to never stop learning, stay adaptable and always look for innovative ways to apply your skills.

What I look forward to most

I’m really looking forward to seeing what 2024 has in store for us. I'm excited about how these high-level concepts will finally land, transforming into applications and products that make a real difference.

When I look at what we're doing for our clients today, or what we've achieved in the past, I'm eager to say, "See this? It's gotten so much better because of the new technologies we've embraced." And it's not necessarily about making technology the star of our show. It may very well work its magic behind the scenes, completely unnoticed by our customers but still creating a significant impact.

At the end of the day, it's about using technology not just as a tool, but as an enabler, something that allows us to make a meaningful difference in people's lives. That's the vision I carry with me as I look forward to 2024 and beyond. And I can't wait to see it come to life.