Banking Peek的动态

Explore the implications of the EU AI Act on banking and fintech. Discover how the new framework mandates responsible AI development to drive trustworthiness and legal compliance in the industry. #EUAIAct #ResponsibleAI #FintechRegulation #bankingindustry #money #finance #fintech https://lnkd.in/eCQzzGFr

?? The European Union has won praise for the first attempt anywhere in the world to regulate AI. But critics say lawmakers are struggling to understand the technology and predict the AI Act, which came into law on August 1, will stifle innovation. ?? Pioneers evidently get brickbats as well as bouquets. Gabriele Mazzini, who led the European Commission's drafting of the legislation, conceded in August that “the regulatory bar maybe has been set too high”. ?? However, Farnoush Mirmoeini, founder of the regulatory fintech KYC Hub, maintains the EU has got the balance about right. “This isn’t a particularly draconian piece of legislation; it’s about transparency and documentation rather than curtailing new technologies,” she argues. ?? “But it is a warning to banks and other financial institutions not to experiment with AI unless they fully understand what they’re doing.” ?? Some banks may even be surprised to find themselves in the scope of the new laws. ?? Critically, the AI Act applies both to technology developers and those, like banks, who are putting AI to work in their businesses. This includes those simply employing third-party AI applications and those adapting them to build a more sophisticated model. ?? There are tough penalties for compliance failures, with maximum fines set at the higher of €35mn or seven per cent of the organisation’s total worldwide annual turnover. ?? Read more below. Story by David Prosser https://lnkd.in/eQeYPeE5 #AIAct #AI #Banking #BankingIndustry

Financial institutions deal with some of our most sensitive information. If a banking AI makes the wrong decision or gives out false information, it's not just a regulatory risk: it could seriously affect people's lives. I am heartened by the launch of the Unleashing AI Innovation in Financial Services Act to address these issues by creating regulatory sandboxes on a national level. It aims to enable innovation while encouraging responsible development — both of which are critical for AI to fulfill its potential. I'll be watching this bill closely as it passes through Congress. Punchbowl News has more details: https://lnkd.in/gbPxdUQj #fintech #ai #airegulation

MUFG Trust and Banking will begin providing financial institutions with the "News AI Searcher (NAIS)" service jointly developed with MILIZE. It is a system that can be used for news analysis and due diligence operations in market operations using AI, and improves operational efficiency by eliminating the need to extract, analyze, and consider negative information from the large amount of news distributed daily. NAIS not only uses AI to extract important negative news from various business-related information delivered from multiple information sources such as news vendors, but also incorporates a versatile learning-based AI that customers can train themselves, enabling them to label (prioritize) a wealth of domestic and international news in accordance with their intentions. Going forward, news data will become important to be utilized in various business scenes against the backdrop of increasing geopolitical risks and other factors. NAIS, a solution developed based on the needs of practitioners, is expected to be widely used, mainly by financial institutions. In preparation for the official service commencement from April 2024, a free trial site of NAIS for mainly financial institutions is now available. ?? Subscribe to our weekly LinkedIn newsletter, the "Japan FinTech Observer", here:?https://lnkd.in/gNjUuSxG

Artificial intelligence (AI) is here to stay and has only begun to transform the financial services industry. During the next Fintech Go-to-Market webinar, a Cooley LLP team will review the benefits and challenges of AI deployment in this space – such as the use of chatbots and AI’s impact on fair lending – and will focus on the various applications of AI in open banking. Register for the August 15 session with the link below. #AI #fintech #CooleyREG

In today's markets, marked by an economic downturn and increased regulatory requirements, the use of #generativeAI in #banking has emerged as a game-changing option. You can automate data extraction, speed up research, provide more detailed insights, and generate content automatically. These processes are fundamental across numerous banking operations, from credit approval to pitchbook creation to due diligence and more. Get to know more ?? https://lnkd.in/gDSkD9K8 #Fintech #FintechTransformation #Banking #AI #AISolutions

BANKING & FINANCE | Financial services are harnessing AI for efficiency and accuracy, but the regulatory landscape is shifting. https://lnkd.in/gKWK4xBS How do you ensure AI systems are compliant and transparent? Be sure to meet with Authentrics.ai CEO John E. Derrick at the Evident AI Symposium in New York on November 21, 2024, to discuss the future of AI governance and assessment solutions. #AICompliance #FinanceIndustry #Banking #AIGovernance #EvidentAI2024

Whether you're a C-suite executive, an IT professional, or a digital strategy enthusiast, this white paper is your compass in the rapidly changing banking landscape.?Download?it now to ensure your organization not only keeps pace but leads in the era of Generative AI. Download now: https://bit.ly/3IJZimx #fintech #AI #banking #finance

Artificial intelligence (AI) is here to stay and has only begun to transform the financial services industry. During the next Fintech Go-to-Market webinar, a Cooley LLP team will review the benefits and challenges of AI deployment in this space – such as the use of chatbots and AI’s impact on fair lending – and will focus on the various applications of AI in open banking. Register for the August 15 session with the link below. #AI #fintech #CooleyREG

Artificial intelligence (AI) is here to stay and has only begun to transform the financial services industry. During the next Fintech Go-to-Market webinar, a Cooley LLP team will review the benefits and challenges of AI deployment in this space – such as the use of chatbots and AI’s impact on fair lending – and will focus on the various applications of AI in open banking. Register for the August 15 session with the link below. #AI #fintech #CooleyREG