The development of the banking sector in conditions of industrial revolution

According to leading economists, the fourth industrial revolution has no analogues in all previous experience of mankind. Its results will fundamentally change the way people live, work and communicate with each other. Already now we can observe stunning technological breakthroughs in a wide range of areas, including artificial intelligence, robotics, unmanned vehicles, three-dimensional printing, nanotechnology, biotechnology, etc. Feature of the fourth industrial revolution is the unusually rapid introduction of new technologies and their widespread use. An innovatively active market becomes a place of intense struggle of many companies around the world, regardless of their size. All of them compete for the opportunity to become the first among those who will be able to bring a new product, a new service to the market, and win the favor of customers. This is also true in the banking sector, where the traditional way of doing business is threatened by innovative financial and technological companies. The article analyzes the achievements of the banking industry during the four industrial revolutions, as well as the main directions of industry 4.0 introduced by the Bank of Russia.