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Artificial Intelligence and Financial Services
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Yuriy Gnatyuk COO at Kindgeek
With a recent AI breakthrough captivating the world's attention, the momentum of the AI market penetration shows no signs of slowing down and steadily paves its way through 2023 with the introduction of GPT-4 and Bard. According to industry reports, the global market for AI is expected to surpass $521.3 billion by 2028, exhibiting a remarkable co...
25 May 2023 /retail /predictions
Roy Prayikulam SVP Risk & Fraud Division at INFORM GmbH
To overcome increased risks from financial crime, fraud expert teams have long been working with AI-powered solutions. Without such tools, inspecting all financial transactions for possible criminal activity would not be possible. But not all solutions are equally effective. The future of fraud prevention lies in intelligently combined multichanne...
24 May 2023 /payments /crime
Jose Pierre CEO at Marketware International, Inc.
Once upon a time, in the ever-evolving landscape of technology, a disruptive force emerged that had the potential to transform industries across the globe. This force, known as Large Language Models (LLMs), proved to be a game-changer in various domains, raising hopes and prompting businesses to adapt or risk being left behind. As organizations sc...
24 May 2023 /wealth /sibos
Sophie Dionnet VP Strategy at Dataiku
Financial institutions are data-driven by nature. All their core processes — including customer suitability assessments, credit allocation decisions, and liquidity buffers management — are dependent on data accessibility and AI models to make the best risk-adjusted business decisions. This data intimacy should give financial services institutions...
17 May 2023 /wholesale
Antony Fung Marketing Manager at CJC
AI and Human Expertise Hybrid Is The Optimal Solution Interest in Artificial Intelligence (AI) has skyrocketed. This article consolidates everything you need to know right now, from current developments to how AI is already impacting the financial sector including the AI potential, costs and employment impacts. It concludes AI has massive potentia...
17 May 2023 /cloud /predictions
Diederick Van Thiel Visionary Board Member | CEO | NED at AdviceRobo | Ecology Innovations | IKANO | Channel
INSPIRATION FROM RESPONSIBLE AI-USE CASES IN FINANCIAL SERVICES AND RETAIL Pause or accelerate AI-development? Some of the biggest names in tech are calling for artificial intelligence labs to stop the training of the most powerful AI systems for at least six months, citing “profound risks to society and humanity.” Elon Musk was among the dozens of...
10 May 2023 /retail /predictions
Ritesh Jain Founder at Infynit / Former COO HSBC
Artificial Intelligence (AI) is rapidly changing the way we live, work, and interact with each other. From virtual assistants like Siri and Alexa to self-driving cars, which are getting a lot more buzz post chatgpt, AI is making our lives easier and more convenient. However, the increasing integration of AI into our daily lives also profoundly i
07 May 2023 /people /sustainable
Karin Schreiber Chief Commercial Officer at Sygno
Manually evaluating transaction monitoring models is slow and error-prone, with mistakes resulting in potentially large fines. To avoid this, banks are increasingly turning to automated machine learning. Regulators increasingly expect banks and financial institutions to be able to demonstrate the effectiveness of their transaction monitoring system...
04 May 2023 /regulation /crime
Ivan Heard Global Head of Fraud Solutions at Quantexa
For decades, Companies House has provided frictionless company formation to support the British economy. A job it’s done admirably well; in 2021 the agency saw the highest number of incorporations on record. However, the register has also suffered from data-quality issues and companies being set up to front fraudulent or illicit activities. Recent...
03 May 2023 /regulation /crime
Michael Boukadakis CEO at ENACOMM
“ChatGPT lowers the bar for people using AI,” Charles Morris, Chief Data Scientist for Financial Services at Microsoft, recently said during a Banking Transformed podcast. It's true; this AI chatbot is democratizing artificial intelligence…even if it lacks the “right direction and guardrails” for use as an automated teller in retail banking. Chat...
02 May 2023 /retail /cloud
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