The '2025 Future Finance Forum' hosted by ChosunBiz at the Westin Chosun Hotel in Jung-gu, Seoul, concluded successfully on the 25th. This forum focused on 'AI, big data, and future finance,' where domestic and international scholars, financial experts, corporations, and government officials gathered to forecast the future of the financial industry and seek growth strategies.
Participants diagnosed that the paradigm of the financial market is rapidly changing due to advancements in AI technology and data utilization. They pointed out that applying AI technology to analyze high-quality big data and provide innovative services tailored to customers is essential for survival in the global financial competition. They also noted that to win in the global AI hegemony competition, collaboration between the government and private sector is necessary to establish new strategies. A total of over 400 people participated in the forum, including corporations, government officials, scholars, and students.
On that day, Kim Moon-soo of the People Power Party and Lee Jun-seok of the Reform Party, presidential candidates, stated via video messages that AI is the core technology of future finance. Candidate Kim said, "The entire future finance industry is undergoing a major transformation based on AI and big data," and added, "The ability to respond to crises using AI and big data in terms of asset and consumer protection determines the competitiveness of finance." Candidate Lee also emphasized, "AI and big data enable finance to include more people with more precise risk management."
Kim Byeong-hwan, chairman of the Financial Services Commission, mentioned in his speech, "With rapid technological advancements, the data economy has moved into the era of generative AI, and is now expanding into realms like physical AI," and added, "It will bring innovative changes in various fields such as internal management, risk management, and customer service."
He continued, "I will always think about how innovation and stability can be achieved in balance within the new financial environment."
◇ "The AI transition is just beginning... innovation must be from the customer's perspective"
The keynote speech on 'Rewriting finance with AI and big data' was given by Lee Eun-mi, CEO of Toss Bank. She stated, "It is not about having AI technology that is superior to others, but rather the perspective shift to think from the customer's viewpoint that is needed," and added, "Innovation starts from small experiments and eventually becomes an industry standard." She continued, "Innovation in the financial industry always starts from a small perspective," noting, "This is why AI and data should be utilized in connection with the inconveniences customers experience."
The first speaker, Noh Kyung-hoon, head of the financial customer team at Amazon Web Services (AWS) Korea, said, "The journey of generative AI has just begun. If we compare it to a marathon, we are currently struggling within the first 5 km," and forecasted, "Once issues like regulation and security are resolved, financial companies will begin to fully adopt generative AI."
Lee Young-soo, head of the AI research lab at Shinhan Bank, and Hong Seong-jun, Chief Design Officer (CDO) at Bank Salad, both emphasized the importance of agentic AI. Agentic AI is an AI system that independently makes decisions, plans tasks, and learns through interaction with users to achieve set goals.
Director General Lee stated, "Agentic AI is not just a simple chatbot," and added, "It is an autonomous system that thinks, plans, and executes on its own." CDO Hong also mentioned, "It can change customers' daily lives at the intersection of my data and intelligent agents."
Science communicator Gweido delivered a special lecture titled 'The future of finance with science and technology.' Gweido, a member of the YouTube channel 'An Daeul Science' with 1.3 million subscribers, actively communicates scientific knowledge.
He emphasized, "When AI is integrated into finance, it is like having skilled experts consulting on my life," explaining, "Utilizing AI in the financial sector allows for analysis of hundreds of indicators and making judgments to draw more favorable conclusions."
◇ "To innovate with AI, securing and utilizing data is crucial"
The next speaker, Moon Jae-nam, CEO of Communication Evaluation, introduced that the global market size for thin filers (people with insufficient financial information) reaches $38 billion (52.5 trillion won). He noted that the current credit evaluation model centered on financial information has limitations in assessing thin filers, and that alternative credit evaluation models can realize inclusive finance.
Jeon Gyeong-won, head of the DataLAB at Hanwha Life, explained the utilization of data in the insurance industry. He stated, "Insurance is fundamentally a data industry," and added, "With accelerating competition from insuretech like Toss and digital transformation, securing and utilizing data is becoming increasingly important."
Yeom Yeong-rang, head of the food business division at LOTTE Wellfood, introduced the business of data utilization in the food industry. He stated, "Through retail-based big data, we can quickly grasp changing trends," and emphasized, "We learned through big data that what was once considered the marketing bible, Maslow's five needs, is now also changing."
The final panel discussion featured representatives from banks, insurance companies, and fintech firms sharing their cases of AI and big data utilization. The panel discussion, themed 'The future strategy of finance based on AI and big data', included participants such as Professor Park Nam-kyu of Seoul National University, Director General Seo Il-sik of Hana Bank's Financial AI Department, Jeon Gyeong-won, head of Hanwha Life's DataLAB, and Woo Chi-soo, head of Toss's Credit Data Division.
Director General Seo mentioned, "We are developing a model that predicts exchange rates through AI learning," and stated, "We are preparing a service aimed at assisting customers in deciding the timing for currency exchange."
Director General Jeon conveyed, "Internally, insurance consultants can quickly find information through AI, which speeds up the process of insurance payouts and enhances customer satisfaction."
Director General Woo stated, "Based on the unique data possessed by Toss, alternative credit evaluation has become possible," and he noted, "In January of this year, Toss and Gyeongnam Bank launched a product that provides loans to young job seekers based on this alternative credit evaluation."