Artificial intelligence (AI) has captured our collective imagination for centuries; from Frankenstein (1818), to Her (2013). The warnings of creating artificial life are numerous. While science fiction has centred on the ‘worst case’ scenario of institutionally controlled A.I., industry has taken the opposite tack. Focusing on the mundane tasks, from ‘Deep Blue’ defeating Garry Kasparov at chess in 1997, to Google’s ‘DeepMind’ beating Lee Sedol at Go in 2016. These advancements seem a world away from the walking talking killer AI’s in science fiction.
In reality, artificial intelligence will likely exist somewhere between killer robots and mundane chess champions. Driverless cars are an example of this, not overtly killer, but with risks and benefits alike. Thus the impact of artificial intelligence will be far more nuanced than the general broad notions found in popular culture.
This year, the FOM awards challenge you to imagine a socially beneficial way AI could be used in the context of payments. An AI that holds the possibility of new hopes or dreams. A technology to empower the people, not enslave them or make them redundant. An Artificial intelligence that will empower the disadvantaged when it comes to money.
For instance, could an AI help the little guy unwrap and reclaim their overpaid tax? Or fight the algorithms behind price fluctuations in online shops? Or somehow act as a leveller against powerful but socially destructive institutions? Or could an AI bridge the gap between value in reality and its sometimes distorted monetary representation. (These are just a few examples, yours will be better)
Be bold, ambitious and inventive.
The competition will run in two phases.
FIRST PHASE – Initial Idea
Please submit an overview of your initial concept. Preferred format = PDF. Maximum 3 pages communicating the concept and examples of previous work (website or PDF).
Deadline for submission 16th March 2018
Send entries to firstname.lastname@example.org
SECOND PHASE – Project Development
Shortlisted entrants will receive £600 each to develop their idea and produce a short video. The videos and concepts will be presented at Consult Hyperion’s ‘Tomorrows Transactions forum,’ which takes place on the 24th – 25th April 2018.
The top three entrants will have the opportunity to present their concepts at the Tomorrows Transaction forum to an audience of financial experts and industry leaders.
£600 each for project development.
Winners will receive a FOM award and shortlisted entries will also be uploaded to the Future of Money archive.