At present, creating music, videos and text using AI is completed in seconds and costs between $0 – 200 per year threatening the cash inflows of production studios, ad agencies, composers, directors and writers. By 2028, we create our own entertainment and enjoy it ad-free on a monthly subscription. Soon after, a personal AI packed into an earbud or other device is likely to emerge. Developed by banks using AI wrappers, these financial AIs are fully compliant to applicable ethics walls and regulations and ensure bank customers thrive in any situation.

Goldman Sachs anticipates 300 million full-time jobs to be lost to AI in coming years which translates to 300 million potential insolvencies. Creating new jobs is unlikely as AI evolves faster than individuals or businesses can adapt to. Previous technological advancements required human labor – AI does not. Instead, it triggers a shock to the global economy which, fortunately, can be vaccinated against. Banks have the right ingredients, Big Tech does not.

2028 is just around the corner and the clock is ticking . . .