Everyday AI Podcast – An AI and ChatGPT Podcast

EP 143: AI Innovation for Financial Regulators

Nov 13, 2023
Guest
Kyle Hauptman
Kyle Hauptman, Vice Chairman at the National Credit Union Administration, shares insights into how AI is reshaping financial regulation. He discusses generative AI's potential to revolutionize anti-fraud measures and improve customer interactions in credit unions. The conversation highlights the importance of strategic policies to harness AI's benefits while addressing challenges. Hauptman also explores the broader impact of AI on the economy and emphasizes the need for inclusivity in financial services, particularly for marginalized communities.
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ANECDOTE

Adapting to Generative AI

  • Credit unions and banks must adapt to new technologies like generative AI.
  • Not adapting is like refusing to use the internet in the past, which would be detrimental.
INSIGHT

Economic Impact of Generative AI

  • Generative AI, like the internet, has potential benefits and drawbacks for the US economy.
  • The key is maximizing the upside while mitigating the negatives, like focusing on cybersecurity jobs.
INSIGHT

Public Perception of AI

  • Public perception of AI is often negative, but its practical applications can change that.
  • Widespread use, like ChatGPT for writing or state law awareness, showcases AI's benefits.
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