Theodora Lau的动态

AI was the Word of the Year for 2023 according to Collins Dictionary. From ChatGPT's debut to Meta and Microsoft's AI counterparts, the revolution is in full swing. AI took center stage across many industries in 2023, and the financial world is no exception. Understanding AI basics is crucial for organizations, and 2024 is set to be a year of defining AI's role. Three key areas stand out: Internal workflow refinement: Streamlining tasks, from compliance to content creation. External product enhancement: Product development, risk management, and fraud detection. Organizational optimization: Balancing growth with AI while preserving human value. What's fascinating is the focus on predictability – using AI to foresee outcomes. Get ready for a data-rich future, as AI's impact in financial services continues to evolve! Don’t forget to nominate your AI and FinTech products for Q1 of the 2024 Product Awards. The nomination deadline is January 31! #2024productawards #productawards #fintech #ai #data

Opportunities for #GenAI in #FinancialServices by #VISA ? - Generative AI (Gen AI) has led to a rush to incorporate this technology across financial services. Large language models like GPT are enabling new product offerings focused on automating processes, enhancing customer engagement, and delivering predictive insights.? - Key areas where Gen AI is being leveraged include consumer finance management, fraud/risk mitigation, accounts receivable, customer support chatbots, real-time decision-making, investing tools, e-commerce enablement, and employee financial services. - While fintechs are rapidly adopting external customer-facing Gen AI products to attract users, banks are focusing more on back-office optimization, cost reduction, and compliance through AI-driven tools. - However, there are still underexplored opportunities like serving the unbanked/underbanked, optimizing in-person customer interactions, elevating strategic planning, and driving broader international adoption. - Regulators are actively monitoring Gen AI's use in finance, providing guidance while enforcing compliance rules. As capabilities improve, widespread adoption will hinge on maintaining robust data governance, ethical AI standards, and transparent disclosures. - Despite the open questions that remain, Gen AI's integration into banking and fintech is inevitable. Those with quality data, strong compliance, and innovative vision will be best positioned to capitalize on Gen AI's immense potential. #GenerativeAI #FinTech #BankingInnovation #ArtificialIntelligence #FinancialServices #LargeLanguageModels #DataGovernance #EthicalAI

Can AI help to improve trust in financial advisers? This question can be considered by looking at the skills and knowledge of financial advisers combined with the capacity of AI tools like ChatGPT. While it is true that anyone can use AI tools to assist with personal finances, the output of the data generated depends on knowing how to frame your input. When it comes to trust, however, it might depend on developing trust in AI before it can contribute to the finance sector in a valuable way. For more detailed insight, we've talked to Richard Hilsley, one of our Digital Transformation Experts here at Mindera, for his view on the role of AI in fintech: https://lnkd.in/dyB3eYBq #MinderaWorld #fintech #technology #data #leadership #artificialintelligence #automation #futureofwork

#Consumer use & understanding of #GenerativeAI, including in #financial & #debt advice- Key insights from Digital Regulation Cooperation Forum (DRCF) Thinks Insight & Strategy Financial Conduct Authority and Competition and Markets Authority report

I'm really fascinated by the impact of artificial intelligence on the financial sector, as highlighted in this Forbes article. Morgan Stanley's adoption of a new internal AI assistant based on ChatGPT is a prime example. This tool aids financial advisors and staff in accessing a vast repository of research reports, assisting with investment recommendations, business performance analysis, and internal processes. The article also emphasizes how traditional banks can leverage similar AI-driven solutions. Overall, artificial intelligence presents tremendous opportunities for enhancing the banking experience, benefiting both consumers and industry professionals. It's crucial for financial leaders to recognize this potential and invest in AI technologies to propel the industry forward. #AI #Banking #Fintech

#Consumer use & understanding of #GenerativeAI, including in #financial & #debt advice- Key insights from Digital Regulation Cooperation Forum (DRCF) Thinks Insight & Strategy Financial Conduct Authority and Competition and Markets Authority report ? Awareness of the concept of #GenAI among consumers is high, viewed as an aspect of ongoing technological advancement as opposed to a completely new or distinct #technology. ? Few consumers have a deep understanding of how Gen AI works or how it is distinct from other types of AI. ? specific risks such as Gen AI being used to drive #fraud and Gen AI potentially giving inaccurate outputs are felt to be concerning to consumers ? In the absence of information about #regulation, consumers ‘fill in the gaps’ and assume regulation is or would be in place if using Gen AI in #financialservice settings which further builds #trust. ? consumers expect those organisations deploying Generative AI tools will be accountable if things go wrong. #GenAI #Chatgpt #AI #FinTech #Finserv #LLMs #Banking #Regulation #Regtech #Trust #Risk #AIregulation Mike Flache Tony Moroney Francesco Burelli Panagiotis Kriaris Dr. Martha Boeckenfeld Prof. Dr. Ingrid Vasiliu-Feltes Spiros Margaris Alex Jimenez Nicolas Babin Nicolas Pinto Sam Boboev Eveline Ruehlin Efi Pylarinou Enrico Molinari Dr. Khulood Almani???? ?.???? ?????? Amitav Bhattacharjee Dr. Debashis Dutta https://lnkd.in/gZtJ6XTQ

Artificial Intelligence (AI) continues to transform the fintech industry, driving innovation across various financial services. Startups are leveraging AI to enhance fraud detection, personalize customer experiences, and expand credit and insurance offerings. According to Statista, the AI market in fintech reached 44.08 billion U.S. dollars in 2024 with a projected growth to exceed 50 billion U.S. dollars by 2029. ? Are you integrating AI to stay ahead of the curve in financial innovation? #Fintech #AI #Innovation?

?? The financial services sector has long been a pioneer in leveraging artificial intelligence, but the rapid adoption of generative AI is taking innovation to new heights. While AI has typically been the domain of data scientists, today’s tools like ChatGPT are proving valuable across the board, reshaping how employees and executives approach challenges. ?? As industry leaders discussed at the 2024 MIT FinTech conference, this shift is happening quickly, but with careful consideration to ensure AI’s responsible and effective use in customer-facing roles. (Source: https://bit.ly/4cij6cJ) At Bermen March, we’re committed to staying at the forefront of this AI revolution, partnering with fintechs to drive smart, secure innovation. ?? https://bermenmarch.com/ #AIinfinance #fintech #innovation #generativeAI #bermenmarch #digitaleconomy #AI #financialservices

#ai | #artificialintelligence | #banking : #Banks are proceeding with caution as a new generation of AI tools arises. Key findings ? The majority of bankers are still educating themselves about the breadth of AI solutions and how they can best be applied to support their businesses. The top actions they are taking include exploring AI technology providers in their industry, attending industry conferences or events on AI and educating key stakeholders to get buy-in across the organization. ? Outside of ChatGPT, which three-quarters of banking professionals have used, familiarity with specific generative AI tools is low and opportunities for education on what those products do are plentiful. ? Almost all banks expect that AI will help their business in one way or another, suggesting the full extent of AI’s impact on the industry could wind up being impressively large. ? Bankers are also concerned with potential business risks associated with AI, particularly loss of personal touch with customers and the introduction of ethical issues. ? Banks appear to be in the early stages of preparing for widespread implementation of innovative generative AI tools, with almost two-thirds either still collecting information ahead of an implementation or starting small pilot projects. ? In general, a majority of banking professionals expect that AI adoption will ultimately impact the nature of jobs in the industry without greatly reducing the number of jobs. EmpowerEdge Ventures

Gen AI is literally everywhere, but is it just a tech trend that's going away? Spoiler alert: It’s not! ?? Models like ChatGPT, Claude, and Llama are exceeding expectations and setting the stage for a new tech era. While businesses might be worried (and rightly so) about jumping in, the impact of #GenAI is real and coming fast. ?? Economic Impact According to McKinsey, Gen AI could add $2.6 trillion to $4.4 trillion to the global economy each year. That’s huge—like adding the whole GDP of the UK! ?? It’s set to automate 60-70% of work tasks in high-wage, knowledge-based jobs, boosting productivity and driving economic growth. For industries like banking, high tech, and life sciences, the gains could also be massive. In banking alone, #GenerativeAI could bring in an extra $200 billion to $340 billion annually. How is your business planning to leverage Gen AI? Let me know your thoughts and plans! #tech #techrevolution #ai #artificialintelligence #futureproofing