寫在前面
這篇文章是Brett King在一次演講中的內容，標題是”銀行4.0與金融服務的未來“。我把演講內容全部摘抄了下來。
Brett King 是一位國際知名的金融科技專家、作家和演說家。著有《Bank 3.0》《Bank 4.0》等多本在金融科技領域具有廣泛影響力的書籍。
本篇文章有2個部分：
- 演講正文與英文詳解
- 關於金融服務的思考
本篇文章有3個目的或者作用：
- 作為英文學習材料，裡面有很多英文的表達是值得我們學習的。特別是關於金融領域的詞彙。
- 作為金融領域知識，值得金融從業人員學習，裡面有很多關於銀行的發展以及金融服務的發展的理念。
- 分享一些自己觀後的一些思考和總結，特別是作者關於金融服務的未來的部分。
注：文中的翻譯部分使用了AI，其餘均為自己創作。
演講正文
先來閱讀一下作者的演講全文，文中關鍵的英文單詞或者短語我都做了標註和解釋。同時包含了中英文對照。原文是我從演講中摘抄出來的，中文是我用AI翻譯加我自己校對的。（雖然說AI翻譯已經非常厲害了，但可惜還是離不開人工校對。）加粗的文字是我認為作者的金句。
Guten morgen, it’s great to be here.
早上好，很高興來到這裡。
Guten morgen是德語的早上好。I hope I don’t disappoint after that glowing introduction.
希望我的介紹不會讓你失望。
But yeah it’s quite a thing to wake up one morning and find your Twitter feed getting blown up by people saying: “isn’t that your book on President Xi’s shelf?”
不過一早醒來，發現自己的推特被人刷爆了，確實是件好事， “主席的書架上不是你的書嗎？”
blow up：爆發，爆炸。 這裡主要指推特被刷爆了。Blown是blow的過去分詞。So, that’s pretty cool.
所以，這很酷。
As a futurist , one of the things that you try and do is you’re not just looking at what’s going to happen in the future.
作為一個未來學家，你要做的一件事就是你不能只關注未來會發生什麼。
futurist：未來學家You have to look at analogies for what might happen based on what’s happened in the past.
你必須根據過去發生的事情來類比可能發生的事情。
analogy： /əˈnælədʒi/ n. 類比，比擬；JP and I were talking about this last night, a futurist told him once, “you have to be a good pastist,” understanding the past to understand the future.
JP和我昨晚在談論這個話題時，一位未來學家曾告訴他，“你必須是一個優秀的歷史學家”，瞭解過去才能瞭解未來。
And when you look at what’s happening in financial services broadly.
當你看一下金融服務領域正在發生的事情時，你就會明白這一點。
broadly: /ˈbrɔːdli/ adv. 廣泛地，普遍地；When we look at isolated technologies like blockchain or the smartphone, for example, we might think of these as a data solution for the bank.
當我們看到區塊鏈或智慧手機等孤立的技術時，我們可能會認為這些技術是銀行的資料解決方案。
Or we might think of mobile like a channel for the bank.
或者，我們可能會認為移動手機就像銀行的一個渠道。
But if you step back from those specific technologies and you look at what’s happening in the world, something is changing.
但是，如果你從這些特定技術中抽身出來，看看世界正在發生什麼，就會發現有些東西正在發生變化。
step back from: 從……退後：停止或減少對某事的參與或關注。The world is digitizing and the world is digitizing because we’re seeking low friction and immediacy.
世界正在數字化，世界正在數字化，因為我們正在尋求低摩擦和即時性。
friction: /ˈfrɪkʃ(ə)n/ n. 不和，分歧；摩擦；摩擦力
immediacy: /ɪˈmiːdiəsi/ n. 直接；及時性We want immediate responses, we want stronger commerce connections that can scale up more rapidly.
我們想要即時響應，我們想要更強大的商業聯絡，能夠更迅速地擴充套件。
These are the systems that are changing globally.
這些都是全球正在發生變化的系統。
So within that framework, you can’t expect banking and financial services to stay the same as it has been.
因此，在這個框架內，你不能指望銀行和金融服務一成不變。
Because, ultimately, it has to shift.
因為，歸根結底，它必須轉變。
So when we look at these phases of development of banking, if you overlay technology on this, you understand that it’s not just about inserting technology into banking, there’s a larger shift.
因此，當我們審視銀行業發展的這些階段時，如果將技術疊加上去，就會明白這不僅僅是在銀行業中植入技術，而是一個更大的轉變。
Part of the shift is around trust and the utility of the bank.
轉變的一部分是圍繞信任和銀行的實用性。
So when we look at the Bank 1.0 world, the foundational elements of banking, going back to the time of the Medicis and Florence and Firenze and places like that.
因此，當我們審視銀行 1.0 世界時，銀行業的基本要素可以追溯到美第奇家族、佛羅倫薩和佛羅倫薩等地的時代。
美第奇家族（`the Medicis`）主要活動在佛羅倫薩（Florence，義大利語為 Firenze）。美第奇家族以銀行業起家，建立了龐大的金融帝國。他們的銀行網路遍佈歐洲，為各國君主和貴族提供金融服務，積累了鉅額財富。美第奇家族是文藝復興的重要贊助者。When you look at that, banking was very simple, you would go to the bank and we trusted the bank because that was the safe place to store the money.
銀行業務非常簡單，你可以去銀行，我們信任銀行，因為銀行是安全的儲錢場所。
But transactionally, as our demands on the banking system increased, we needed to put technology in place to keep up with the demands of utility.
但在交易方面，隨著我們對銀行系統的要求越來越高，我們需要引進技術來滿足實用性的需求。
This is the first bank mainframe called ERMA.
這是第一臺名為 ERMA 的銀行大型機。
mainframe: n. [計] 主機；大型機Electronic Recording Machine for Accounting.
ERMA，它是一種用於銀行的計算機技術，實現了銀行記賬和支票處理的自動化。最早由通用電氣生產。ERMA 的出現標誌著計算機技術開始在銀行業發揮重要作用，推動了銀行業從手工處理向計算機處理的轉變，對銀行業的現代化和發展產生了深遠影響。This was, I think, where acronyms were introduced into banking, through technology.
我想，這就是透過技術將縮寫引入銀行業務的地方。
acronym: n. 首字母縮略詞This was built by MIT for Bank of America in 1953 and it was primarily designed to do check processing back then.
這是麻省理工學院 1953 年為美國銀行設計的，當時主要用於支票處理。
check ：這裡的check是指支票。
back then ：當時，指過去的某個時間點或時期。So, technology started to change the banking sector.
因此，技術開始改變銀行業。
the banking sector：銀行業Now you probably don’t know this, but prior to the introduction of ERMA and mainframes, we never had bank account numbers.
你可能不知道，在引入ERMA和大型機之前，我們從來沒有銀行賬號。
prior to：在……之前，先於You’d go to a bank and they would fill out a card, they’d put your name on it and that was your account record and your customer record.
你去銀行，他們會填寫一張卡片，寫上你的名字，這就是你的賬戶記錄和客戶記錄。
Your name and address was on a physical card in a bank branch.
你的姓名和地址都在銀行分行的實體卡片上。
This was why, for 30 years after this, with some banks, you couldn’t move from one branch to another without opening another account.
這就是為什麼在這之後的 30 年裡，有些銀行在不開設另一個賬戶的情況下，你不能從一家分行轉到另一家分行。
Because they stored your bank account details on this little card.
因為他們把你的銀行賬戶資訊儲存在這張小卡片上。
But ERMA couldn’t sort customer information by name, so they had to give each customer and each account a unique number to sort it in the computer system.
但 ERMA 無法按姓名對客戶資訊進行分類，所以他們必須給每個客戶和每個賬戶一個唯一的編號，以便在計算機系統中進行分類。
The computers weren’t very sophisticated back then.
那時的電腦還不是很先進。
sophisticated：/səˈfɪstɪkeɪtɪd/ adj. 見多識廣的，老練的，見過世面的；複雜巧妙的，先進的，精密的；水平高的，在行的；This was the first use of bank account numbers, due to the mainframe.
由於採用了大型主機，這是第一次使用銀行賬號。
Then, in the mid-80s, we started to look at ways to extend the platform of banking and make it self-service.
80 年代中期，我們開始研究如何擴充套件銀行業務平臺，使其成為自助服務。
We had the Internet come along in the 90s, but this really started with the introduction of the ATM machine, self-service banking.
90 年代出現了網際網路，但真正的起點是引入 ATM 機和自助銀行服務。
come along: 出現：指某人或某物出現或到達。What’s happening is, we’re trying to say, “We’re extending the bank as a platform.”
現在的情況是，我們試圖說，"我們正在把銀行作為一個平臺來擴充套件”。
But our reliance on the bank as a building, the bank as a place, was becoming less and less important, because now we’re saying you can bank 24/7.
但我們對銀行這座建築的依賴，銀行這個地方的依賴的重要性越來越低了，因為現在我們說你可以7*24小時辦理銀行業務。
reliance：/rɪˈlaɪəns/ n. 依靠，信任
less and less：越來越少And then when Bank 3.0 came along, we extended that analogy to say you could bank anywhere, any time.
然後，當銀行 3.0 出現時，我們將這一類比擴充套件到你可以隨時隨地進行銀行業務。
And this mobile, if you step back from this and say, “Well this was just another channel to extend banking, ” then you don’t understand the implications, because what it was doing was saying: “Banking can be done wherever you are, you don’t need the bank.”
如果你退一步說：“這只是擴充套件銀行業務的另一個渠道”，那你就不明白它的意義，因為它的作用是說： “無論你在哪裡都能辦理銀行業務，你不需要銀行。”
implications：/ˌɪmplɪˈkeɪʃ(ə)n/ n. 可能的影響（或作用、結果）；
what it was doing was saying：整句話可以翻譯為 “它正在做的事情是在表明……”，“what it was doing”是“正在做的事情”，這裡的saying表示 “表明 / 表示”。But what was key was the core utility of the bank, was being surfaced through this technology.
但關鍵在於，銀行的核心功能正透過這項技術浮出水面。
And so, the trust was changing from being about a place you could go where your money was safe, to now, a set of bank platform technologies that would enable you to do banking.
因此，人們對銀行的信任正在從你可以去安全存錢的地方，轉變為一套銀行平臺技術，可以讓你進行銀行業務。
Today, it’s not a bank charter that makes someone trust in you as a bank brand, it’s the utility of your bank.
今天，讓人們信任你這個銀行品牌的不是銀行牌照，而是銀行的實用性。
charter：/ˈtʃɑːrtər/ n. 憲章，章程；特許狀，許可證；
bank charter：銀行牌照If your technology stops working for 10 days, you can’t access internet banking, point-of-sale systems are down, branch systems aren’t working, how much trust do you think people would have in your bank for these 10 days?
如果你的技術停止工作 10 天，你無法訪問網上銀行，POS系統癱瘓，分行系統無法工作，你認為在這 10 天里人們會對你的銀行有多少信任？
point-of-sale：就是我們平時刷卡的POS機的全稱。So utility and trust become wrapped up.
於是，實用性和信任度就被捆綁在了一起。
wrapped up：總結，概括；包好，裹緊；這裡理解為捆綁到了一起。And technology now becomes the overarching mechanism for delivery of that utility.
而技術現在成為了提供這種效用的總體機制。
overarching：/ˌoʊvərˈɑːrtʃɪŋ/ adj. 首要的，總體；支配一切的；包羅永珍的
mechanism：/ˈmekənɪzəm/ n. 機械裝置，機件；途徑，方法；（生物體內的）機制，構造；But something else changed.
但還有其他一些變化。
We started to see us rethinking the way financial services should work.
我們開始重新思考金融服務的運作方式。
This is Yuebao, the most successful investment or savings product on the planet today, built in China on top of Alibaba’s system to capture those deposits from merchants and consumers working on Alibaba and Taobao, putting that aside and giving them some high-yield interest rate.
這就是餘額寶，當今世界上最成功的投資或儲蓄產品，它建立在中國阿里巴巴的系統之上，從阿里巴巴和淘寶網上的商家和消費者那裡獲取存款，並將其擱置起來，為他們提供高收益利率。
deposits：存款
merchants：商家
high-yield：高的，高產的
interest rate：利率We classify this in the West as a money market fund.
在西方，我們將其歸類為貨幣市場基金。
classify：/ˈklæsɪfaɪ/ v. 把……分類，把……分級；
money market fund：貨幣基金Jack Ma doesn’t see it as that, that’s way they called it Yuebao, “Hidden treasures.”
馬雲不這麼認為，所以他們叫它餘額寶，“隱藏的財寶”。
doesn’t see it as：不認為它是…
treasure：/ˈtreʒər/ n. 金銀財寶，珠寶，財富；They saw it as a behavioral model for savings.
他們認為這是一種儲蓄行為模式。
savings：儲蓄$180 billion assets under management, no branches, no humans involved in the sale of that product.
管理著 1800 億美元的資產，沒有分支機構，沒有人參與產品銷售。
In the past, you may have heard an argument that we need bank branches and face-to-face interaction because how else are we going to engage customers to take deposits or assets?
過去，你可能聽過這樣一種說法：我們需要銀行網點和麵對面的互動，因為我們還能如何吸引客戶來存款或購買資產？
argument：n. 爭論，爭吵；論據，理由；辯論，討論；這裡理解為一種說法或論點。
engage：v. 僱用，聘請；參加，從事；吸引，引起；And yet the most successful deposit product in the world today doesn’t involve humans, it’s completely automated.
然而，當今世界上最成功的存款產品並不涉及人類，而是完全自動化的。
And Alipay, Ant Financial, the parent company of Alipay in China, has a higher trust rating in China than most of the banks there.
而支付寶，也就是中國支付寶的母公司螞蟻金服，在中國的信任度高於大多數銀行。
Why? It could be argued that it’s because of utility.
為什麼呢？可以說是因為實用性。
It could be argued that: 可以說，可以這樣說。是一種常用表達。Now, when you see where we’re going with this, the next generation of technology, as we’re talking about, voice-based artificial intelligence, personal smart assistants built into our home and telephone.
現在，當你看到我們的發展方向時，下一代技術，正如我們正在談論的，基於語音的人工智慧，內建在我們的家庭和電話中的個人智慧助理。
Augmented reality smart glasses in a few years that can give you data in your field of view so you can make decisions.
幾年後，擴增實境智慧眼鏡可以在你的視野中提供資料，讓你做出決策。
field of view：視野：指在不轉動頭部或移動身體的情況下，一個人可以觀察到的區域。These technologies will increasingly embed banking in our world.
這些技術將越來越多地把銀行業務融入我們的世界。
embed： v. （使）嵌入， 把……插入；And so, the design of a banking system to fit into this world, requires us to sort of rethink banking from the ground up around utility, not around the products or the channels we’re using.
因此，要設計一個適應這個世界的銀行系統，我們就必須從根本上重新思考銀行業務的實用性，而不是我們正在使用的產品或渠道。
sort of：表示程度上的某種程度，有點兒。
from the ground up：從頭開始，從零開始Now, when you look for evidence of changes into the way economics works and so forth and you look at technology, the way it’s impacted, the biggest changes historically that have taken place in the world have happened with what we call “first principles design thinking.”
現在，當你尋找改變經濟執行方式等的證據，並審視技術及其影響方式時，歷史上發生在世界上的最大變化都發生在我們所說的 “第一性原理設計思維”中。
economics：經濟學
and so forth：等等，等同於and so on或者etc.
historically：adv. 關於歷史事件，從歷史觀點上說；在過去，歷史上地That’s when a new piece of technology comes along that’s so different from the way it was done before, that it requires everyone to reset their thinking and change their behavior.
當一項新技術出現時，它與以往的工作方式大相徑庭，這就需要每個人重新思考並改變自己的行為。
The automobile was an example of that.
It got rid of all these people working in London and New York who were shoveling the horse dung off the streets, it changed employment patterns, it changed the architecture of cities.
它擺脫了所有在倫敦和紐約工作的人，這些人剷除了街道上的馬糞，它改變了就業模式，改變了城市建築。
got rid of：擺脫，除去：
shovel：/ˈʃʌv(ə)l/ v.（用鏟子）剷起，鏟去；
dung：/dʌŋ/ n.（動物的）糞，糞肥；It created the middle class in the United States.
the middle class：中產階級它在美國創造了中產階級。
The Model T Ford production line is credited with creating the middle class in the United States.
福特Model T車生產線被認為是美國中產階級的開創者。
be credited wtih：/ˈkredɪtɪd/ 認為…有某種成就All of this from a first principles rethink about transportation.
所有這一切都源於對交通的初步反思。
transportation：n. 運輸，運送；交通運輸系統；We don’t need a faster horse, we need to rethink the way we get from point A to point B.
我們不需要更快的馬，我們需要重新思考從A點到B點的交通方式。
You can think of other examples as well.
你還可以想到其他例子。
A great example of this is the iPhone.
iPhone 就是一個很好的例子。
When Steve Jobs worked on the iPhone and the iPod, you can see this is an example of the prototype that they used for creating the first iPhone and the first iPods.
當史蒂夫-賈伯斯開發 iPhone 和 iPod 時，你可以看到這是他們用來製作第一代 iPhone 和第一代 iPod 的原型機。
prototype：/ˈproʊtətaɪp/ n. （新型汽車、機器等的）原型，雛形；Now, Jobs didn’t take the Nokia Banana Phone, or the Motorola flip or the BlackBerry RIM and try and iterate on that, he said, “If we’re going to take a touchscreen device, a mobile phone, internet access, software apps, and combine them into a device, how would that work?”
現在，賈伯斯並沒有把諾基亞香蕉手機、摩托羅拉翻蓋手機或黑莓 RIM 手機作為原型，而是說：”如果我們要把觸控式螢幕裝置、行動電話、網際網路接入、軟體應用程式結合到一個裝置中，這將如何運作？“
This is what we call first principles thinking.
這就是我們所說的第一性原理。
Let me give you one other example and then I’ll tie this back to banking.
讓我再舉一個例子，然後把它與銀行業聯絡起來。
tie ... back to：與…聯絡起來Let’s talk about the development of technology here in Germany: the V-2 rocket.
讓我們來談談德國的技術發展：V-2 火箭。
It was an amazing piece of technology, if you step away from what it was used for, it was decades ahead of the rest of the world in terms of technology development.
這是一項了不起的技術，如果不考慮它的用途，就技術發展而言，它領先世界其他國家幾十年。
step away from：離開，遠離。
decades：n. 數十年（decade 的複數）
ahead of：領先於
in terms of：就……而言；But Wernher von Braun, who was behind this technology, said he wanted to get men to the moon.
但這項技術的幕後推手沃納-馮-布勞恩說，他想把人類送上月球。
沃納・馮・布勞恩（Wernher von Braun）是 20 世紀液體燃料火箭技術和宇航工程的開創者和奠基人。So, at the end of the Second World War, the Russians, Americans and the British were rushing into Germany to try and get access to these resources, namely Wernher von Braun.
因此，在第二次世界大戰結束時，俄國人、美國人和英國人紛紛湧入德國，試圖獲得這些資源，也就是沃納-馮-布勞恩。
rushing into：v. 倉促行動；倉促從事
namely：adv. 即，也就是He went on to build the Apollo program.
他後來建立了阿波羅計劃。
Using this technology, he iterated on the V-2, created the Mercury-Redstone rocket, the Apollo rocket, and at the height of this program, the average launch would cost about $1.2 billion in today’s terms, about $6000 to get a kilogram of stuff into orbit.
利用這項技術，他迭代了 V-2 型火箭，創造了 “水星-紅石 ”火箭和 “阿波羅 ”火箭，在這一計劃的鼎盛時期，平均發射費用以今天的價格計算約為 12 億美元，將一公斤的東西送入軌道約需 6000 美元。
at the height of：在…的頂峰時期
in today’s terms：用今天的眼光來看，這裡指的是如今的匯率來算
kilogram：n. 千克，公斤
orbit：/ˈɔːrbɪt/ n. （環繞地球、太陽等執行的）軌道；Over the last 50 or 60 years, we’ve reduced that by about a third by iterating on the Apollo design.
在過去的五六十年裡，我們透過對阿波羅火箭設計的不斷改進，將成本降低了大約三分之一。
a third：三分之一Something interesting happened in the last few years: along came Elon Musk and SpaceX, and they said, “What happens if we were going to redesign rockets, if we started from scratch? What if we didn’t take the Wernher von Braun Apollo program design and iterated on this? What if we started from scratch using 3D printing of titanium engine parts? What if we started with new computer models with new systems? If we started from scratch would this make a difference?”
過去幾年發生了一件有趣的事：埃隆-馬斯克和 SpaceX 公司出現了，他們說："如果我們要重新設計火箭，如果我們從零開始，會發生什麼？如果我們不採用沃納-馮-布勞恩的阿波羅計劃設計並在此基礎上迭代呢？如果我們使用 3D 列印鈦發動機部件，從零開始呢？如果我們使用新的計算機模型和新的系統從頭開始呢？如果我們從零開始，這會有什麼不同嗎？
along came：到達或出現在某個地方，這裡指馬斯克出現了。
started from scratch：從頭開始（固定搭配）
titanium：/taɪˈteɪniəm/ n. [化學] 鈦（金屬元素）First principles thinking.
這就是第一性原理。
And the result is that in just 14 years, with the reusability on the Falcon Heavy platform, SpaceX has got the cost to orbit down to about $300 per kilogram, a 95% reduction of the days of the Apollo program.
結果是，在短短 14 年時間裡，憑藉 “獵鷹重型 ”平臺的可重複使用性，SpaceX 將進入軌道的成本降至每公斤約 300 美元，比阿波羅計劃時期降低了 95%。
Falcon：n. 隼，獵鷹。這個單詞本身是獵鷹的意思，但這裡Falcon Heavy platform指的是SpaceX的獵鷹重型平臺。And they sent Starman into space in a Tesla.
他們還用特斯拉把 “星人 ”送上了太空。
Starman是DC漫畫的星光俠。獵鷹重型火箭的首次發射中，作為模擬有效載荷，火箭攜帶了 SpaceX 創始人埃隆・馬斯克的特斯拉 Roadster 紅色電動跑車，而在該跑車的駕駛座上有一個名為 “Starman” 的假人。是一種致敬，星光俠是美國奧帕爾市的一位科學家，具有超能力，在漫畫中是一個與太空相關的英雄角色。這也契合了此次太空發射行動以及人類對太空探索的追求。So this required rethinking the way rockets worked, reusability, all of these things, were essential components of this.
因此，這需要重新思考火箭的工作方式，可重複使用性，所有這些東西，都是必不可少的組成部分。
So you end up with two competing design themes in terms of how we incorporate technology into the world.
因此，在我們如何將技術融入世界的問題上，最終會出現兩個相互競爭的設計主題。
end up with：以……結束
incorporate： v. 包含，合併；You have first principles thinking, which says: we’ve had a major leap in technology, it changes everything.
一種是第一性原理思維，即：我們的技術有了重大飛躍，它改變了一切。
a major leap：重大飛躍Or the other approach: we take technology and gradually improve on it.
或者是另一種方法：我們利用技術並逐步加以改進。
gradually：adv. 逐漸地，逐步地That’s what’s happened in banking today.
今天的銀行業就是這樣。
We’ve taken technologies like the mainframe, the ATM machine, internet, mobile, and we’ve iterated on the traditional banking model.
我們採用了主機、ATM 機、網際網路、行動電話等技術，並對傳統銀行模式進行了迭代。
Branch banking, investment advisors, we’ve iterated on this.
分行銀行、投資顧問，我們都在此基礎上進行了迭代。
So, when the iPhone came along, instead of saying, “There’s an opportunity to completely rethink the way financial services fits into people’s lives,” we took the primary artifact, the bank account, and we stuck a representation of that in the phone.
因此，當 iPhone 出現時，我們並沒有說 “現在有機會徹底重新思考金融服務融入人們生活的方式”，而是將銀行賬戶這一主要工具植入手機。
completely： adv. 完全地，徹底地
fits into：vt. 適合，適應；符合
artifact：n. 人工製品
stuck：stuck主要有卡住、陷入的意思，這裡主要指塞進，也就是植入。
a representation of：…… 的代表；…… 的象徵；…… 的表現形式This is what we call Design-by-Analogy.
這就是我們所說的 “類比設計”。
So, these are the two competing design schools.
這就是兩種相互競爭的設計流派。
schools：這裡指的是學派、流派。不是學校。First principles design, start from scratch or iterate on the existing model by incorporating technology.
第一性原理設計，從零開始，或者在現有模式上結合技術進行迭代。
incorporating：/ɪnˈkɔːrpəreɪtɪŋ/ adj. 合併的Remember, historically speaking, the biggest leaps and the biggest changes in the world have occurred through first principles thinking.
請記住，從歷史上看，世界上最大的飛躍和最大的變革都是透過第一性原理思維實現的。
historically speaking：從歷史上看，用於引出一段歷史背景或歷史事件的講述So how would you think about acquisition of customers in the first-principle world?
那麼，在第一性原理的世界裡，你會如何考慮獲取客戶呢？
acquisition：/ˌækwɪˈzɪʃ(ə)n/ n.學得，習得；（金錢、財物等的）獲取；這是獲取客戶的常用單詞。Well, we’ll introduce Jack Ma.
好吧，我們來介紹馬雲。
Hear what he had to say about competing with Walmart.
聽聽他對與沃爾瑪競爭的看法。
It doesn’t matter that he’s talking about the retail business there because he’s used the same strategy in financial services in China today, making him one of the fastest-growing financial services organizations or Ant Financial, one of the fastest in the world.
他所說的零售業務並不重要，因為他今天在中國的金融服務領域也採用了同樣的策略，使其成為全球發展最快的金融服務機構之一，即螞蟻金服。
Hear what he said about competing with Walmart.
聽聽他是怎麼說與沃爾瑪競爭的。
He said Alibaba is going to be bigger than Walmart in a couple of years, because of this reason.
他說，因為這個原因，阿里巴巴將在幾年內比沃爾瑪還要大。
You did a great job in Baba, so I said maybe in 10 years, we’ll be bigger than Walmart.
你在巴巴做得很好，所以我說，也許 10 年後，我們會比沃爾瑪還大。
He said, “Young man, you have good hope.”
他說："年輕人，你的希望很大。”
I said, “Let’s make a bet. In 10 years we’ll be bigger than Walmart on sales, because if you want to have 10000 new customers, you have to build a new warehouse and this and that. For me, two servers, two computers.”
我說："我們打個賭吧。10 年後，我們的銷售額將超過沃爾瑪，因為如果你想擁有 10000 個新客戶，你就必須建一個新倉庫，建這個建那個。對我來說，兩臺伺服器，兩臺電腦。
warehouse：n. 倉庫，貨棧That’s all he says he needs to get 10000 customers, two servers.
他說，要獲得 10000 個客戶，他只需要兩臺伺服器。
So, in the world that Jack Ma thinks of financial services being embedded in people’s lives, the ultimate, low-friction, financial services engagement means you can execute everything you need to cross-digital channels.
因此，在馬雲認為金融服務已經嵌入人們生活的世界裡，終極的、低摩擦的金融服務參與意味著你可以執行跨數字渠道所需的一切。
ultimate：adj. 最終的，最後的
friction：n. 不和，分歧；摩擦；摩擦力Whereas with banks, we iterate on this, and we say, “Well, we don’t want to sell stuff on the internet because that’s going to cannibalize our existing agency business or our branch-based business, so let’s put some transactional stuff online.”
而對於銀行來說，我們會反覆斟酌，然後說："好吧，我們不想在網際網路上賣東西，因為這會蠶食我們現有的代理業務或分行業務，所以我們還是把一些交易性的東西放到網上吧。”
Whereas：conj.（表示對比）但是，然而；
cannibalize：/ˈkænɪbəlaɪz/ vi. 調撥人員；拆用配件；同類相食。它的名詞cannibal是食人者的意思，它的形容詞cannibal是食同類的、吃人肉的意思。所以這裡就是指蠶食什麼。So, when the internet came along, we didn’t sell investment products or bank accounts on the internet, we created internet banking, which was essentially the bank statement online, behind a login.
因此，當網際網路出現時，我們並沒有在網際網路上銷售投資產品或銀行賬戶，而是建立了網上銀行，本質上就是透過登入在網上提供銀行對賬單。
bank statement：銀行結單，銀行對賬單。
essentially：adv. 本質上，根本上；大體上，基本上Then mobile came along and we said, “Great, now we can put those bank statements on a smaller screen.”
然後手機出現了，我們說，“太好了，現在我們可以把銀行對賬單放到更小的螢幕上了”。
This is the iterative thinking.
這就是迭代思維。
So what you have today is, compared with first principles players in this ecosystem, all of the challenger banks of the world and the new behavioral investment platforms and so forth, are all about digital onboarding.
因此，與這一生態系統中的第一性原則參與者相比，如今世界上所有的挑戰者銀行和新的行為投資平臺等都在致力於數字化開戶。
onboarding：通常指新員工入職培訓；新使用者引導流程，顧客引導；但這裡指開戶。And yet, less than 5% of the banks in the world today offer complete digital onboarding of customers.
然而，目前全球只有不到 5%的銀行為客戶提供完整的數字化開戶服務。
And yet：然而，儘管如此。用於引出一個與前面所說的相反或出乎意料的事實或情況。We’re already starting to see the world diverge around this very simple engagement principle: how you acquire customers in the digital age.
我們已經開始看到，圍繞著這一簡單的參與原則：如何在數字時代獲取客戶，世界已經開始出現分歧。
diverge：/daɪˈvɜːrdʒ/ v. 相異，出現分歧；If you’re going to design value stores, you have to understand that technology is going to change the nature of banking itself, and that would have to start with the basic bank account or a value store.
如果要設計價值商店，就必須明白技術將改變銀行業務本身的性質，而這必須從基本的銀行賬戶或價值商店開始。
the nature of：…的性質；…的本性In fact, if you think about it, if you break down the value financial service players provide to their customers, extending on what JP was talking about before, we probably only have three core products: we have the ability to store value, we have the ability to move money, and we have the ability to access credit.
事實上，如果你仔細想想，將金融服務公司為客戶提供的價值進行細分，根據 JP 之前的論述，我們可能只有三種核心產品：我們有儲存價值的能力，我們有轉移資金的能力，我們有獲取信貸的能力。
break down：分解，拆開，分析或細分They’re the core foundation elements or utility that our products that we give to customers provide.
它們是我們為客戶提供的產品的核心基礎元素或實用性。
Let’s step back from the technology and think about the change that’s occurring in the value store itself at the heart of banking and financial services.
讓我們從技術角度退一步，思考一下作為銀行和金融服務核心的價值商店本身正在發生的變化。
If you look historically at the value stores we used to use, they weren’t particularly smart.
如果你回顧一下我們過去使用的價值儲存，它們並不是特別智慧。
particularly：adv. 非常，尤其They would store our money safely and at the time, that was what the core value proposition, the trust in a bank was for, because your money was safe.
它們會安全地儲存我們的錢，而在當時，這正是銀行的核心價值主張和信任所在，因為你的錢是安全的。
proposition：n. 主張，觀點；But as technology started to come into play, we took those dumb artifacts and we put them inside our technology platform to try and give some bigger utility.
但隨著技術的發展，我們把這些笨拙的工具放到了我們的技術平臺上，試圖讓它們發揮更大的作用。
come into play：開始起作用
dumb：adj. 愚蠢的；簡易的But they were still dumb, they didn’t provide any feedback.
但它們仍然很笨，沒有提供任何反饋。
That basic debit card or credit card you use when you go to visit a store, it doesn’t tell you your balance before and after the transaction.
你去商店購物時使用的基本簽帳金融卡或信用卡不會告訴您交易前後的餘額。
debit card：簽帳金融卡
credit card：信用卡That’s the most requested piece of information you get from customers about their day-to-day bank account.
這是您從客戶那裡得到的關於其日常銀行賬戶的最多資訊。
day-to-day：adj. 日常的；逐日的We had to think about this in a different way.
我們必須換個角度思考這個問題。
When it comes to what we’re seeing in terms of investment today, what’s happening is, you’re not getting people just looking at digital onboarding, you’re seeing from the perspective of investment and savings, looking at behavioral mechanisms behind savings and investing.
說到我們今天所看到的投資，現在的情況是，人們不再僅僅關注數字開戶，而是從投資和儲蓄的角度，關注儲蓄和投資背後的行為機制。
And not saying you need a minimum AUM to qualify as a customer to get into this account, just saying, “Let’s change your behavior so you can save. Let’s change the way you save so you can invest more money.”
並不是說你需要最低資產管理規模才有資格成為這個賬戶的客戶，只是說："讓我們改變你的行為，這樣你就可以儲蓄。讓我們改變你的儲蓄方式，這樣你就能投資更多的錢"。
And not saying：而不是說（常見用法）
AUM：資產管理規模（asset under management）
qualify：v.（使）有權去做；取得資格，達到標準；Because this, over time, builds AUM faster than saying, “Here’s a great product to stick your money in.”
因為隨著時間的推移，這比說 “這是個不錯的產品，你可以把錢存進去” 更快地積累資產管理規模。
over time：隨著時間的過去，它也有加班的意思，但這裡就是指時間流逝。
stick … in：放入，這裡就是存錢，投進去的意思。So, this is the change, it’s a behavioral framework, around the value store, not a product framework.
所以，這就是改變，是圍繞價值儲存的行為框架，而不是產品框架。
When you look at how this might evolve, a great illustration of this is happening in China right now with ICBC, with their AI investment platform.
當你看這可能如何發展時，中國工商銀行的人工智慧投資平臺就是一個很好的例子。
evolve：v. 進化，演化；
illustration：/ˌɪləˈstreɪʃ(ə)n/ n. 插圖，圖解；說明，例釋；例項，示例。這裡主要是示例的意思。Now what they do is they monitor your behavior in terms of your portfolio, to produce a very detailed risk model.
現在，他們所做的就是監測你在投資組合方面的行為，以生成一個非常詳細的風險模型。
portfolio：在這裡指的是投資組合。
produce：v. 生產，產生；They’re eliminated the risk profile questionnaire as part of the investment process.
他們取消了作為投資流程一部分的風險狀況問卷。
eliminated：/ɪˈlɪmɪneɪtɪd; ɪˈlɪməˌneɪtɪd/ v. 被淘汰；消除；排除
risk profile：風險評估
questionnaire：/ˌkwestʃəˈner/ n. 問卷，調查表Now, from a perspective of a regulator, you might say, “This is a problem, because we need that risk profile questionnaire to understand your risk profile and then understand that you’ve committed to that risk contained in that investment product.”
現在，從監管者的角度來看，你可能會說：“這是個問題，因為我們需要風險評估問卷來了解你的風險狀況，然後瞭解你是否承諾承擔該投資產品所包含的風險。“
regulator：n.（某行業的）監管者，監管機構；But that’s iterative thinking.
但這是迭代思維。
First principles design thinking is: well, let’s monitor your behavior and learn how risky you are.
第一性原則設計思維是：好吧，讓我們監控你的行為，瞭解你的風險有多大。
And if that risk is a problem for you, let’s change your behavior over time by educating you, by giving you the right behavioral triggers.
如果這樣的風險對你來說是個問題，那就讓我們透過教育你、給你正確的行為誘因來改變你的行為。
This is really at the heart of this change around financial services.
這正是金融服務變革的核心所在。
at the heart of：在……的核心；As we get smarter, banking and investment, and these tools are becoming embedded in this world through technologies.
隨著我們變得越來越聰明，銀行和投資以及這些工具正透過技術嵌入這個世界。
This is leading us to move away from the financial products we used to have to understand that the utility of financial institutions is now serviced not through products through a channel, but through technology experiences that service the utility.
這促使我們擺脫過去的金融產品，認識到金融機構的實用性現在不是透過渠道提供產品，而是透過服務於實用性的技術體驗來實現。
move away from：遠離
institutions：n. 機構，團體；The core ability to move money, store value or access credit.
核心能力是轉移資金、儲存價值或獲取信貸。
How we adapted to this in the past, is we took those traditional interactions we’d had in the physical space and we implemented electronic forms or electronic systems to mimic the processes we’d had in the branch or with the investment advisor.
過去，我們是如何適應這種情況的？我們採用了實體空間中的傳統互動方式，並實施了電子表格或電子系統，以模仿我們在分行或與投資顧問之間的流程。
adapted：v. 適應；調整
mimic：v. 模仿We iterated on this from a technology perspective.
我們從技術角度對此進行了迭代。
Now, I’m going to show you how Capital One did this with Alexa in respect to their credit card product.
現在，我將向大家展示 Capital One 在其信用卡產品中是如何使用 Alexa 的。
in respect to：關於；就……而言
Alexa：Alexa是亞馬遜推出的一個智慧助理音響，類似於小愛音響。It's not a core product, but it’s a good illustration of iteration.
這不是核心產品，但它很好地說明了迭代的問題。
Voice is the next big technology that’s going to affect financial services.
語音是影響金融服務的下一個重要技術。
This is how one of the first banks in the world attacked the use of Amazon Alexa with voice.
世界上首批使用亞馬遜 Alexa 語音技術的銀行之一就是這樣做的。
The Capital One Skill for Amazon Alexa makes credit card payments easier than ever.
亞馬遜 Alexa 的 Capital One Skill 讓信用卡支付變得前所未有的簡單。
After saying, “Alexa, open Capital One” and speaking your personal key, you can pay your bill using only your voice.
說 “Alexa，開啟 Capital One ”並說出你的個人金鑰後，你就可以用你的聲音支付賬單了。
“When’s my payment due?”
“我的付款何時到期？
“The payment of your credit card is due July 9th.”
“您的信用卡付款截止日期是 7 月 9 日"。
“Pay my Capital One credit card bill.”
“支付我的Capital One信用卡賬單”
You’ll get the option to pay your balance or a minimum payment.
您可以選擇支付餘額或最低還款額。
Make your choice and confirm.
做出選擇並確認。
A confirmation code will appear on the Capital One Skill card in your Alexa app.
在 Alexa 應用程式中，Capital One Skill 卡上會顯示一個確認程式碼。
Once the payment has been made.
付款完成後
“Confirm.”
確認
“All set, I’ve made the payment for you.”
“一切就緒，我已為您完成支付"。
All set：準備就緒：表示一切都已安排好或準備完畢。The Capital One Skill makes account management as easy as speaking up.
Capital One Skill 讓賬戶管理像說話一樣簡單。
Just ask Alexa, to find out for yourself.
一問 Alexa，馬上知道。
This is not bad for a first attempt at adapting Alexa, but they just took the product they had in the branch, the credit card, and said, “How do we put this on the voice channel?”
這對於首次嘗試改編 Alexa 來說還算不錯，但他們只是把網點裡的信用卡產品拿出來說："我們怎麼把它放到語音渠道上？”
Whereas a first principle designer would say, “You don’t need plastic to make a payment, you’ve got your voice, that’s your unique identifier. As long as you can attach the voice to a value store, you don’t need plastic, or a 16-digit number. You can get access to credit, but that can be based on an experiential basis rather than a physical card.”
而一個第一性原則設計師會說："你不需要信用卡來付款，你有你的聲音，那是你獨一無二的識別符號。只要你能把語音附加到一個價值商店，你就不需要實體信用卡，也不需要 16 位數字的號碼。你可以獲得信貸，但這可以建立在體驗的基礎上，而不是一張實體卡。
plastic：/ˈplæstɪk/ 信用卡，這裡是想強調它是一個實體塑膠卡。
As long as：只要That’s first principles thinking versus iterative thinking.
這就是第一性原則思維與迭代思維的對比。
versus：對比，它的縮寫是VSWhen you look for evidence of first principles design in the financial services world, you see a lot of it coming out of China and new fintech start-ups around the world.
當你在金融服務領域尋找第一性原理設計的證據時，你會發現中國和世界各地的新金融科技初創企業都有很多這樣的設計。
start-ups：創業公司This is, of course, Tencent WeChat.
當然，這就是騰訊微信。
Now, in China, 98% of mobile payments go through two technology platforms, Ant Financial’s Alipay and Tencent WeChat, not through the traditional banks or traditional payments networks.
現在，在中國，98% 的移動支付都是透過螞蟻金服的支付寶和騰訊微信這兩個技術平臺進行的，而不是透過傳統銀行或傳統支付網路。
And this has happened in the space of just a few years.
而這一切都發生在短短几年間。
in the space of：在某個時間內，不超過某個時間Last year, $12 trillion in mobile payments, what that means is this year, China’s mobile payments transaction traffic will surpass all of the card traffic of the world.
去年，移動支付交易額達到 12 萬億美元，這意味著今年中國的移動支付交易額將超過全球所有銀行卡交易額。
trillion：萬億（生活中不常用，但金融領域挺常用的，所以提出來）
surpass：v. 超過，勝過，優於；
what that means is：這意味著There will be more mobile payments globally done this year than all of the plastic card payments done across traditional means.
今年，全球移動支付的交易量將超過透過傳統方式進行的所有實體信用卡支付。
plastic card：這裡強調的是實體信用卡。
means：n. 手段，方法；金錢This is a pretty big shift.
這是一個相當大的轉變。
But WeChat, they didn’t try to create a credit card or debit card that you signed up for at a branch and you use a traditional point-of-sale network, they just used a simple QR code.
但微信並沒有試圖創造一種信用卡或簽帳金融卡，讓使用者在網點註冊並使用傳統的POS機網路，他們只是使用了一個簡單的二維碼。
First principles thinking around payments.
圍繞支付的第一性原理思維。
It wasn’t a payment product, it was enabling the utility of a payment experience.
這不是一個支付產品，而是實現了支付體驗的實用性。
When Uber was faced with the challenges of growth in American cities, in cities like New York, San Francisco, Chicago and Los Angeles, they couldn’t recruit drivers fast enough and they found out that 30% of the drivers who started the application process in the app got to a single field in the app and abandoned the driver sign-up process.
當 Uber 在美國城市面臨發展挑戰時，在紐約、舊金山、芝加哥和洛杉磯等城市，他們招募司機的速度不夠快，他們發現有 30% 的司機在應用程式中開始申請流程時，只填寫了應用程式中的一個欄位，就放棄了司機註冊流程。
recruit：v. 招聘，招收
abandon：v. 拋棄，遺棄；That field was the debit card.
這個欄位就是簽帳金融卡。
Because they had driven yellow taxi cabs and had never had a bank account, they’d been paid in cash.
因為他們開的是黃色計程車，從來沒有銀行賬戶，他們的工資都是現金支付的。
yellow taxi cabs：計程車。這裡主要是指紐約經典且傳統的黃色計程車。順便說一些歷史，在18世紀的英國，貴族往往都僱傭一輛單馬雙輪輕便車（cabriolet），到了19世紀，人們開始用cabriolet的縮略詞cab來代指城中專供出租的大型馬車，後來汽車出現了，出租馬車就變成了汽車，所以計程車就叫cab了。So, to enable them to grow Uber faster, they had to issue drivers with a bank account.
因此，為了讓 Uber 更快地發展，他們必須向司機發放銀行賬戶。
Overnight, Uber became one of the third-largest acquirers of small business bank accounts in the United States.
一夜之間，Uber 成為美國第三大小型企業銀行賬戶收購者之一。
the third-largest：第三大，第幾大就把中間那個數字換成幾But Uber doesn’t want to be a bank.
但 Uber 並不想成為一家銀行。
They needed the utility of the bank built into their app to continue to grow their business.
他們需要在應用程式中內建銀行的實用功能，以繼續發展業務。
As JP mentioned, I founded Moven in 2011 in the US, and we’ve built essentially this app, this is the latest iteration of our app, as a smart bank account that will advise you on how to be financially healthy.
正如 JP 所提到的，我於 2011 年在美國創立了 Moven 公司，我們將這款應用（這是我們應用的最新迭代版本）打造成了一個智慧銀行賬戶，為你提供財務健康方面的建議。
found：v. 建立；創立And that includes investment products, it includes savings behavior, and so forth.
這包括投資產品、儲蓄行為等等。
When we introduced our first savings experience in Moven which was in Q4 last year, 40% of our customers immediately deposited funds into the Moven savings “stash” as we call it, our savings account or value store.
去年第四季度，當我們在 Moven 中首次推出儲蓄體驗時，40% 的客戶立即將資金存入了 Moven 儲蓄，我們稱之為“stash”，它是儲蓄賬戶或價值儲存。
But we did zero marketing and we have 0% APR on that savings account.
但我們沒有進行任何營銷活動，而且該儲蓄賬戶的年利率為 0%。
APR：年利率40% of our customers immediately, overnight, responded to that.
一夜之間，40% 的客戶立即對此做出了反應。
We can tell you the best day of the week to prompt people to save.
我們可以告訴你一週中哪天最適合提示人們存錢。
We can tell you the exact time of day that is the best time to message someone to save money.
我們可以告訴你一天中哪個時間段是給別人傳送儲蓄資訊的最佳時間。
Behaviorally, we created a behavioral savings process, not a savings account.
在行為上，我們建立的是一個行為儲蓄流程，而不是一個儲蓄賬戶。
The customer doesn’t even need to sign up for a savings account with Moven, we just enabled their savings behavior.
客戶甚至不需要在Moven公司註冊儲蓄賬戶，我們只需啟用他們的儲蓄行為。
When you start thinking about utility as it changes, banking becomes highly contextual.
當你開始考慮實用性的變化時，銀行業務就會變得高度情景化。
contextual：/kənˈtekstʃuəl/ adj. 上下文的，與語境相關的A great example of this might be credit access for day-to-day banking where I walk into a grocery store and I fill up my cart and I go to the checkout, and then they swipe my card and the cashier says, “I’m sorry Sir, it’s been declined.”
一個很好的例子可能是日常銀行業務的信用訪問，我走進一家雜貨店，把購物車裝滿，然後去結賬，他們刷我的卡，收銀員說：“對不起，先生，它被拒絕了”。
grocery store：雜貨店Some of your customers may have had this problem.
您的一些客戶可能遇到過這種問題。
Then you go fishing for another card.
然後你就去找另一張卡。
fish for：設法獲取；探聽；摸索尋找“Let me give you this one, try this one.”
“我給你這張，試試這張"。
What about if we didn’t think about that as a product-based process?
如果我們不把這當成一個基於產品的過程呢？
What about if you think: when you walk in the grocery store, if I know you don’t have enough money to do your shopping, I present you with an offer for credit access there and then, to solve that problem?
如果你認為：當你走進雜貨店時，如果我知道你沒有足夠的錢來購物，我會當場向你提供信貸服務，以解決這個問題，你會怎麼想？
I don’t wait for you to get to the checkout.
我不會等你去結賬。
This is experiential design of this.
這就是體驗式設計。
Then we come back to the role of advisors, because when it comes to financial services, we’ve had this view predicated over the last 30 or 40 years that the best way to get the best bang for your buck, in investment terms, is you need to have a human involved, you need to get that advice.
然後我們再來談談顧問的作用，因為說到金融服務，在過去的三四十年裡，我們一直有這樣一種觀點：在投資方面，要想獲得最佳收益，最好的辦法就是讓人參與進來，你需要得到建議。
predicate：v. 使基於，使取決於；表明，斷言
get the best bang for your buck：是一個常用的英語表達，意思是 “以最少的錢獲得最大的價值；物有所值”。bang在這裡不是 “砰” 的意思，而是指 “效果、影響力、價值” 等，是一種形象的說法。buck通常指 “美元” 或 “錢”，是一種通俗的貨幣表達。
in ... terms：在什麼方面But technology is also going to change the way we think of advice in financial services.
但技術也將改變我們對金融服務建議的看法。
In fact, probably the most common form of advice our customers will be faced with in the future from financial services is just something as simple as this: Hey Siri, can I afford to go out for dinner tonight?
事實上，未來我們的客戶最常遇到的金融服務建議可能就是這樣簡單： 嘿 Siri，我今晚有錢出去吃晚飯嗎？
afford： v. 買得起；有（時間）做某事；承擔得起Your bank account should be smart enough to answer that question.
你的銀行賬戶應該有足夠的智慧來回答這個問題。
And if you’re looking at retirement, how much do I need to save each week to put my son through college?
如果你考慮的是退休後的生活，我每週需要存多少錢才能供兒子上大學？
be looking at：考慮，思考
retirement：退休
put my son through college：供我兒子讀大學How much do I need to put away for retirement?
我需要為退休儲蓄多少錢？
put away：存錢There are questions a smart bank account should just be able to know, should just be able to answer for you, and artificial intelligence is going to give us that platform.
這些問題，智慧銀行賬戶應該能夠知道，應該能夠為你解答，而人工智慧將為我們提供這樣的平臺。
Let me explain it in this sort of context: we talked about autonomous vehicles, smart-driving cars, so this is what we think of when we think of how an autonomous vehicle drives.
讓我在這樣的背景下解釋一下：我們談到了自動駕駛汽車、智慧駕駛汽車，所以當我們想到自動駕駛汽車是如何駕駛的時候，我們想到的就是這個。
autonomous：/ɔːˈtɑːnəməs/ adj. 自治的，有自治權的；It learns by capturing all of this information using LiDAR, radar detection, camera suites and so forth.
它透過使用鐳射雷達、雷達探測、相機套件等捕捉所有這些資訊來學習。
All of these information captures about 1000 times the content that visually we can see through our eye.
所有這些資訊所捕捉到的內容大約是我們透過眼睛所能看到的內容的 1000 倍。
These chips now are so good at processing this that it can process that amount of information in about half the time of our brain, our neocortex, or visual cortex.
現在這些晶片的處理能力非常強，它可以在我們大腦、新皮層或視覺皮層一半的時間內處理如此多的資訊。
neocortex：n. 新（大腦）皮質，皮層
cortex：n. 皮層，（尤指）大腦皮層；1000 times the information processed in half the time of a human brain.
用人類大腦一半的時間處理 1000 倍的資訊。
Ultimately, when this technology is mature, that’s why no human will be able to keep up with an AI when it comes to driving.
最終，當這項技術成熟時，這就是為什麼在駕駛方面，沒有人類能趕上人工智慧的原因。
mature：adj. 成熟的，理智的；
keep up with：跟上，與他人保持相同的進度或水平，在比賽、競爭等中與他人保持平衡。Same analogy in financial services.
在金融服務領域也是如此。
The more data we have, the better advice we can give you, and no human will be able to process the same amount of data as an artificial intelligence.
我們掌握的資料越多，我們就能為你提供更好的建議，而沒有一個人能夠像人工智慧一樣處理同樣多的資料。
When we look at this being applied in the robo-space for robo-advising, 2017 was a big year, it was the first year that robo-advisors met the performance of human advisors in terms of portfolio returns.
當我們看到這一點被應用於機器人領域的機器人諮詢時，2017 年是一個重要的年份，這是機器人顧問在投資組合回報方面達到人類顧問表現的第一年。
portfolio returns：投資組合回報率The best robo-advisors getting about 11-12% return on the portfolios.
最好的機器人顧問的投資組合回報率約為 11-12%。
So, we’re now starting to see the fact that, in terms of the black box portion of this, that machines are catching up with humans.
因此，我們現在開始發現，在黑箱操作方面，機器正在趕超人類。
portion：n.（某物的）一部分；On the trading side, it’s even worse.
在交易方面，情況更糟。
Goldman Sachs has said one programmer can replace five traders today, by application of technology.
高盛說，透過技術應用，今天一個程式設計師可以取代五個交易員。
Goldman Sachs：高盛集團This was UBS’ trading floor in Stanford back in the early 2000s in Stanford, Connecticut.
這是 2000 年代初瑞銀在康涅狄格州史丹佛的交易大廳。
UBS：瑞士聯合銀行（United Bank of Switzerland）
trading floor：交易大廳
Connecticut：美國康涅狄格州Today, this is empty, this trading floor, because of the application of artificial intelligence.
如今，由於人工智慧的應用，這個交易大廳已經人去樓空。
AI is being introduced into the asset management side, portfolio management, advice and return generation for assets under management.
人工智慧正在被引入到資產管理方面，包括投資組合管理、諮詢以及為所管理的資產創造回報。
portfolio management：投資組合管理But aren’t AIs all going to be the same?
但人工智慧不都是一樣的嗎？
Let me use these two race cars as an illustration of this.
讓我用這兩輛賽車來說明這一點。
These are Audi’s test vehicles for their self-driving rig.
這是奧迪為其自動駕駛裝置準備的測試車。
rig： 裝備、器械；在這裡可以理解為 “車輛裝置”“裝置組合” They’re not self-driving cars you drive on the roads, they’re actually racing cars.
它們不是你在路上開的自動駕駛汽車，實際上是賽車。
Now, there’s two of these vehicles, test vehicles A and test vehicles B.
現在，有兩輛這樣的車，測試車 A 和測試車 B。
The engineering team nicknamed them AJ and Bobby, A and B, right?
工程團隊暱稱它們為AJ和Bobby，A和B，對吧？
But Bobby drives faster than AJ.
但Bobby比AJ開得更快
Same car, same platform, same hardware, same firmware, same software, same engineers that drive this, and yet one of these cars drives faster than the other consistently.
同樣的車、同樣的平臺、同樣的硬體、同樣的韌體、同樣的軟體、同樣的工程師駕駛，但其中一輛車始終比另一輛車開得快。
firmware：韌體。和hardware、software經常一起出現在IT領域。
consistently：adv. 一貫地，始終；一致地I asked the engineers at Audi when I was doing augmented, “Why is that? Why does one AI drive faster than the other?”
我在做擴增實境的時候問過奧迪的工程師："這是為什麼？為什麼一輛人工智慧車開得比另一輛快？”
augmented：增強的，這裡指的是擴增實境。And the engineer from Audi said, “Hmm, Yeah, we really don’t know.”
奧迪的工程師說："嗯，是的，我們真的不知道。”
I said, “Can you give a guess?”
我說："你能猜猜嗎？”
And he said, “Actually, we think we know. One of the engineers, early in the process, because this is a machine-learning platform, maybe he drove more aggressively that day. Maybe he had an argument with his wife or got caught in traffic.”
他說："實際上，我們認為我們知道，其中一位工程師在早期，因為這是一個機器學習平臺，也許他那天開車更猛烈了。也許他和妻子吵架了，或者堵車了。”
aggressively：/əˈɡresɪvli/ adv. 好鬥地；侵略地；
got caught in traffic：堵車（以後就知道堵車如何表達了）But that set a new baseline for one of the artificial intelligences to learn differently from its compatriot.
但這為其中一個人工智慧設定了一個新的基線，讓它以不同於同類的方式學習。
compatriot：/kəmˈpeɪtriət/ n. 同胞，同國人；同事，夥伴And this shows us that even in investment, artificial intelligence, one AI will differentiate from another AI in terms of some types of investment platform.
這告訴我們，即使在投資、人工智慧領域，在某些型別的投資平臺上，一種人工智慧也會區別於另一種人工智慧。
differentiate：v. 使不同；求……的微分；For now, the advantage lies with advisory firms incorporating artificial intelligence.
就目前而言，擁有人工智慧的諮詢公司更具優勢。
lie with：取決於，在於It’s man with machine versus man without machine.
這是有機器的人與沒有機器的人的較量。
But it won’t be long before it’ll be machine versus man.
但用不了多久，就會變成機器與人的較量。
We’ve got probably a three-to-five-year window where we can supplement or augment human advisors with AI.
我們大概有三到五年的時間可以用人工智慧來補充或增強人類顧問。
supplement：v. 增加，增補
augment：v. 增加，增大；加強，補充After that, AIs are going to start to separate themselves in terms of capability.
在此之後，人工智慧將開始在能力上脫穎而出。
separate themselves：指個體或群體在某種情況下自願或被迫與其他人或事物分開。When you look at the problem of customer acquisition and relationship and engagement of customers, what becomes clear is one of our biggest problems in financial services is the way we identify customers.
當你審視客戶獲取、客戶關係和客戶參與的問題時，就會發現我們在金融服務領域最大的問題之一就是我們識別客戶的方式。
KYC: Kill your customers with paperwork.
KYC： 用文書工作扼殺客戶。
後續內容請看下篇。