On October 9th, the Universidade Católica Portuguesa hosted an emblematic conference focused on the intersection between Artificial Intelligence (AI) and savings management.
The event, organized by Euronext and APFIPP, was held in partnership with CATÓLICA-LISBON. This conference aimed to clarify the numerous questions surrounding the potentialities and challenges of incorporating AI into financial management.
AI has been recognized for its potential to streamline processes and improve decision-making, especially in fields where rapid data analysis is crucial. Nonetheless, it is also an area that has raised some controversial opinions and doubts regarding its effectiveness and safety.
The event was attended by prominent experts, such as Filipe Santos, Dean of CATÓLICA-LISBON; Raquel Bilro from Microsoft; David Cruz e Silva from EUVC and Isomer Capital; Jorge Ferreira from IM Gestão de Ativos; João César das Neves, Economist and Full Professor at CATÓLICA-LISBON, and Hugo Rolim, Master's student in Finance at CATÓLICA-LISBON. The debate centered on "Artificial intelligence in savings management: opportunities and risks", was moderated by Shrikesh Laxmidas, deputy director of ECO.
Filipe Santos kicked off the debate by highlighting the relevance of investment as a foundation for shaping the future. He stated that, by creating jobs and stimulating innovation, technology, and training, we boost our economic competitiveness. In this context, the appropriate management of savings holds undeniable relevance, serving as the primary channel for investment. This insight revealed a broader concern about the Portuguese's conservative inclination towards their savings, leading the Dean of CATÓLICA-LISBON to underscore the need to delve deeper into savings management and how AI could effectively automate processes and introduce intelligence to this domain.
João César das Neves, in contrast, brought a more humanistic and measured perspective to the discussion. He emphasized that AI should be perceived as a supportive tool, and not as a human substitute. The professor warned of the risks of creating social inequalities, especially in sensitive areas like credit granting, stating, "In credit provision cases, it's challenging to assess the reasons behind individuals being good payers or not, which leads to significant impacts on citizens due to the discrimination they feel."
Hugo Rolim, on the other hand, offered a fresh and modern perspective. He assured that the key to successful AI integration lies “in adaptation and willingness to learn.” According to the Master's in Finance student, this adaptation is made on two fronts – in education/training and in terms of skills development. He further noted that humans must compete against machines and discern their unique qualities. In this regard, develop personal skills since it is emotional intelligence and critical thinking that distinguishes us from the machine and that will make us attractive to a company.
In addition to these viewpoints, the conference featured other experts, such as Raquel Bilro from Microsoft, who defended the potential of AI in helping users improve the management of their individual savings. She highlighted the existence of apps and software that promote more efficient expenditure management.
This gathering at Universidade Católica Portuguesa, in partnership with CATÓLICA-LISBON, highlighted not only the opportunities but also the risks of integrating AI into financial management. The conversation provided a multifaceted perspective, balancing technological optimism with ethical and humanistic considerations, fundamental in an increasingly digital world.
This conference took place within the scope of World Investor Week.