Artificial Intelligence (AI) and Robotic Process Automation (RPA) may not be using reason, but they are undeniably effective in cutting costs and improving customer service, and gradually encroaching on ever-more areas of life and work. They also raise profound questions about law, audit, regulation, ethics, the future of employment and especially the standard of living. This is a summary of the first of many Future of Finance discussions about the commercial, economic and social impact of AI.