Artificial Intelligence modifies the previously existing links between entities operating on the financial markets, introduces new competition rules, and plays an increasingly important role. Its potential poses a major challenge for the financial system.
The banking sector is facing another revolution — the competition of global corporations, such as Facebook, Google, Amazon, Apple, and Alibaba. Their strength will force banks to restructure, but it may also push some of them out of business.
The Polish banking sector is feeling the pressure of rising personnel costs and costs related to IT investments. Burdens are growing while the rate of return on equity declines, thus the consolidation of the sector may accelerate.