Fintech Insider Podcast by 11:FS
832. Insights: How is AI transforming financial services?
Mar 7, 2024
The podcast delves into AI's transformation in financial services, discussing investments, use cases, and future potentials. Guests from Microsoft and HSBC share insights on AI evolution, empowering customer agents, and democratizing investments with AI integration. The discussion highlights AI's impact on developer efficiency, client understanding of ESG, and future implications of personal digital AI agents.
55:03
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Quick takeaways
- Financial institutions are investing in AI to enhance capabilities from back office to customer-facing services, focusing on ESG analytics, customer service, and fraud detection.
- Challenges of governance in AI adoption in regulated industries like banking include managing technical debt, data infrastructure, security controls, balancing automation with human interaction, and mitigating biases and fraud risks.
Deep dives
The Use of Artificial Intelligence in Financial Services
Financial institutions are increasingly investing in AI to enhance their capabilities, from back office to customer-facing services. The podcast highlights how AI, including generative AI, is transforming processes within HSBC and broader banking industry. Focus areas include ESG analytics, customer service, and fraud detection, emphasizing responsible and ethical AI deployment.
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