Dr Katrin Tinn on Crowdfunding and

the Future Job Market

17

February, 2018

Dr Katrin Tinn, Assistant Professor of Finance at Imperial College Business School, gave her perspective on Innovation at Warwick Congress on Saturday, sharing her thoughts with students on recent financial innovations including reward-based crowdfunding and Blockchain.

It is not obvious that machines always do everything better

– Dr Katrin Tinn

Dr Tinn highlighted that a major advantage of reward-based crowdfunding is that the limited length of campaigns enables firms to credibly learn about demand and test out the market, with crowdfunding campaigns promising to deliver a good that doesn’t yet exist but will do at some point in the future. As a result, Dr Tinn stated that crowdfunding was useful in enabling trade in more complicated situations, especially when firms are unsure of how else they will fund the creation of a product.

Dr Tinn also shared her opinions on FinTech such as Blockchain, stating that it “makes finance more accessible” as it allows for faster data analysis, with such developments also increasing access to global financial systems, especially for those in developing countries who used to be excluded from such services. However, Dr Tinn remained critical of cryptocurrencies such as Bitcoin for reasons similar to Paul Andrews; namely that the value of Bitcoin isn’t anchored to traditional banking institutions and instead is dependent on the value that people believe it has.  

When asked if the rise of AI would have a negative impact upon humans accessing the job market, Dr Tinn remained cautious, saying: “It is not obvious that machines always do everything better”. Dr Tinn drew particular attention to the fact that AI which utilised data with an underlying bias would simply copy and perpetuate that bias, whereas a human would use their judgement to correct the bias. Similarly, Dr Tinn emphasised that AI runs on algorithms which are written by humans. Consequently, Dr Tinn stated that: “Human intervention will always be needed … humans will always continue to be important”.

 

Written by Natasha Rega-Jones. Edited by Keval Dattani.

 

Warwick Congress Blog

Italian populism: a new challenge to the EU?

Italian populism: a new challenge to the EU? 19 June, 2018   Italy’s anti-establishment Five Star Movement and right-wing Lega party have formed a coalition government after months of political deadlock. The new government has raised questions over Italy’s future...

The Wider Picture: The Iran Nuclear Deal

The Wider Picture: The Iran Nuclear Deal 12 May, 2018   President Trump has announced the US is withdrawing from the Iran Nuclear Deal in what is a major setback for relations between the US and Iran The decision was taken as the US felt the “sunset provisions”...

The story behind the US-China trade dispute

The story behind the US-China trade dispute 13 April, 2018 The US are concerned at China’s economic activity and trade practices, especially in the field of intellectual property Both countries have imposed tariffs on each other’s goods, leading many to fear a trade...

Want new articles as soon as they get published?
Become a Member of Warwick Congress!