China opened its first “unmanned” bank in Shanghai this week that claims to be able to handle over 90% of a traditional bank’s services, whether it’s cash or cashless. Customers will be greeted by a robot as they enter the lobby who’s supposed to communicate with them and help with their needs.
The bank also claims to offer services including:
- Video teller machines
- Currency exchange machines
- Augmented Reality
- Virtual Reality
Why it’s hot: Deferring low-value work to machines is inevitable to increase efficiency and profit margin. Brainpower should be reserved for cognitive work.