555 Results from /ai
Pankaj Gupta Manager Data Engineering at Independent Researcher
In today’s digital world, fraud has become more complex, which means we need smarter ways to detect and prevent it. Generative AI helps with this by looking at large amounts of data in real-time, learning what normal and suspicious behavior looks like, and spotting anything unusual with incredible accuracy. In simple terms, it uses advanced AI to ...
03 September 2024 /ai /crime Artificial Intelligence and Financial Services
Alex Kreger Founder & CEO at UXDA
What do bank customers have in common with two NASA astronauts who were recently stuck in space for 8 months instead of 8 days? At first glance, not much. But if we dig deeper, the issue goes beyond a malfunction in Boeing’s Starliner capsule. NASA made a tough call on August 24, 2024: it was too risky to bring two astronauts, Butch Wilmore and S
02 September 2024 /ai /predictions Innovation in Financial Services
Ellen Roberson Global Marketing Advisor, Risk, Fraud & Compliance at SAS
Fraud, risk, and compliance departments worldwide face a rapidly evolving and expanding workload, fueled by increasingly complex modern-day fraud and financial crimes. According to data from the FBI and Deloitte, generative AI (GenAI) is expected to rapidly increase fraud losses over the next few years. But even as AI technology galvanizes bad act...
30 August 2024 /ai /crime Artificial Intelligence and Financial Services
Franklin Manchester Principal Global Insurance Strategic Advisor at SAS
This article originally appeared in the Anti-Fraud Alliance email newsletter and is re-published here with permission. Life insurance fraud is the second most expensive type of insurance fraud in the United States, with losses totaling an estimated $74.4 billion per year. Anecdotally, many carriers note that, while insurance fraud detection rates ...
29 August 2024 /ai /crime Artificial Intelligence and Financial Services
Patrick Bermingham CEO at Adflex
Visit any social media newsfeed and countless posts will tell you that AI means “nothing will ever be the same again” or even that “you’re doing AI wrong”. The sheer volume of hyperbolic opinions being pushed out makes it almost impossible for businesses to decipher between the hype and reality. This is an issue the European Union’s ‘AI Act’ (the ...
29 August 2024 /ai /payments Artificial Intelligence and Financial Services
Dirk Emminger Managing Director at knowing finance
Introduction to an AI Series with 8 Articles A different view on AI is needed In the banking sector, as of summer 2024, artificial intelligence remains largely in the background, or, when in use, mainly within operations and occasionally in innovation labs. When AI does play a role in the front-end, it is typically in presentation rather than i...
28 August 2024 /ai /retail Innovation in Financial Services
Ben O'Brien Managing Director at Jaywing
Recently, the UK Government called upon key regulators—including the ICO, FCA, and Bank of England (which incorporates the PRA)—to outline their strategic approach to Artificial Intelligence (AI). In response, the Bank of England highlighted various existing regulations that demonstrate its capacity to supervise AI. Notably, SS1/23 featured prom...
28 August 2024 /ai /regulation
Ruchi Rathor Founder at Payomatix Technologies
Trends in Financial Services and the Role of AI The financial services industry is undergoing a profound transformation, driven by rapid technological advancements, changing consumer expectations, and evolving regulatory landscapes. Among the various technologies reshaping this sector, Artificial Intelligence (AI) stands out as a key driver of inn...
28 August 2024 /ai /payments Trends in Financial Services
Luigi Wewege President at Caye International Bank
In the digital age, the banking industry is undergoing a seismic shift, with Artificial Intelligence (AI) at the forefront of this transformation. As the President of an established international bank, I have witnessed firsthand the profound impact that AI is beginning to have on retail banking. From enhancing client experiences to streamlining op...
27 August 2024 /ai /predictions Trends in Financial Services
Eldad Tamir Founder and CEO at FINQ
Millennials, born between 1981 and 1996, often find themselves under significant financial stress. The current economic landscape, marked by student loan burdens, a challenging job market, and the necessity to save for the future, compounds this stress. However, despite these challenges, millennials exhibit savvy, resourcefulness, and intelligence...
25 August 2024 /ai /markets Artificial Intelligence and Financial Services
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