When Does Tech Cross the Line?
Is My Bank My Therapist?
As technology and banking are more inextricably linked, our financial programs are affecting the way we live our day to day lives. Some credit cards are offering points for how far someone walks in a day and Mastercard released a credit card that stops your spending when you’ve maxed out your carbon footprint. What permissions are we granting these companies as a user? Where is our data stored and what freedom are we allowing with the movement of our data?
Under the glare of data sharing and social media, people increasingly value their privacy. It is no longer assumed that you and your partner will combine finances. Our VP of Data Science Kendra Clarke questions where financial institutions stand in our personal lives, “Is my bank also going to be my therapist now? Finances and money are one of the leading causes for why couples argue… It [money] becomes very emotional.”
With the rise of these unique reward credit cards and personal finance structures increasingly affecting more aspects of our lives, banks can explore other opportunities to re-skill their workforce relating to our Element of Culture x-skilling. Banks can add additional services such as a financial therapist that would parallel the digital therapists we see rising in popularity.
Showdown on the Slowdown
Netflix is testing a new feature that allows consumers to speed up or slow down a program on their platform. Though we already use this feature on Youtube, actors and filmmakers are protesting this new feature on Netflix because they believe it will manipulate, distort and possibly destroy their art.
Once these productions are out on the world, do the producers, actors and directors still own them? In viewing customizable content, consumers may be creating their own “art.” Director of Cultural Strategy Steve Goldberg argues, “When you are an artist and you release something into the world, it is no longer yours.” Similar outrage was felt when it came to watching movies on differently sized screens, for example watching films on the iPhone, iPods, laptops, etc. Film directors felt that their work was being compromised in being viewed on varied screen sizes.
There is space to explore this idea that could please both parties. Senior Cultural Strategist LaToya Robertson adds, “Content producers could potentially lean into this by building in these customizable features for more layered storytelling. We consume content so quickly it could be another way to get people to rewatch certain films.”