We Must Automate Humanity

We Must Automate Humanity

Chris Skinner

Chairman at The Financial Services Club

Views 512

We Must Automate Humanity

10.02.2017 10:30 am

Building on yesterday’s blog, there was another interesting debate about the risks of humans in the network.  Humans screw up.  Humans cause problems.  Humans have emotions.  Humans are not welcome here.

A good example of why humans are not welcome is that it is typically human error that causes issue.  A self-driving car is likely to drive a million miles without an accident, whilst a human driven car crashes three or four times on average throughout the driver’s lifetime.  I would personally prefer to be operated upon by a robotic surgeon with a million successful operations under its belt, rather than a human surgeon who makes a mistake once in 10,000 operations.  I would have more confidence in traders that were automated and settled without error, than a human trader who may be rogue and where we need to invest millions to reconcile what they’ve traded, when and where.

You get the point.

A machine can process things far more effectively than a human.  It’s the reason why Tesla wants to ban humans from its operations as they slow progress and why Amazon would prefer delivery via drones.  A machine can be programmed to get it right first time, every time and never get it wrong.  A human cannot.

A human can let people through a border control because they look like their passport photo; a machine will recognise that they’re not that person.  A human can be engineered to allow a cyberhacker into the building; a machine will not.  In fact, on this last point, that is a critical issue: humans can be socially engineered to do things that machines will not.  This is the core of our humanity: trust.  We naturally want to trust people.  People do naturally trust people.  That is our basic human nature, but it’s also the reason why we get ripped off. I blogged about this in 2013 when Tony Sale, Britain’s greatest fraudster, spoke at the Financial Services Club.

“Tony is using basic social engineering skills to achieve this and, as he pointed out regularly in his presentation, the problem we have is that most people believe people are honest.”


Jamie Woodruff, the Ethical Hacker, followed up by saying the same and claiming that the easiest way to steal online is all about social engineering.

People are the weakest link.  So we must get rid of them.

If we get rid of people, we can have bulletproof banks, foolproof operations and guaranteed success.  In fact, it galls me immensely that the only time these days where I get angry with poor service is when the automated processes fail and I have to deal with a human.  We must automate everything.

This article originally appeared on thefinanser.com

Latest blogs

Shuvo G. Roy Mphasis

Reboot 1.0: How financial services technology can enable the supply chain to support a post-lockdown boom

Ground control and Captain Tom When veteran Captain Tom Moore decided to walk one hundred laps of his garden before his 100th birthday to raise funds to support NHS heroes battling Covid-19 from the frontline, he never imagined that he would Read more »

Lisa Gutu Salt Edge

Building a PSD2 compliant channel: challenges and opportunities for financial institutions

PSD2 obliges ASPSPs including banks, e-wallets, prepaid cards and other companies that offer payment accounts to provide at least one channel for secure communication with third party providers (TPP). Even neobanks or e-money institutions, including Read more »

Thomas Pintelon Capilever

Credit origination - A lot of innovation on the horizon

While consumer credits are becoming more automated and user-friendly to request, all other credits are often still very manual and labor intensive to originate. In this (relatively long) blog I will try to give a description of the (potentially Read more »

Kelly Kearsley Hourly.io

Time Card Theft is a Big Problem. Here's How to Stop It.

Trust is at the core of every employer-employee relationship. You trust your people to do their jobs, and they trust you to compensate them for their work. Most of the time, it works. However, there's always the person looking to bend the rules or Read more »

Daria Afanasyeva UTP Merchant Services Ltd

Cybersecurity – Online payments are getting more secure

Ever since we've been able to buy anything we need with just a click of a button on our laptops or phones, online sales have been consistently increasing each year. Just last year, the total value of UK retail sales was £394 billion, with an average Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel