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Hallucinations, copyright infringements, and other "abuse" of AI are all important considertaitons of AI Governance. Listen here to one of the industry leaders and how they approach the topic. #ai #governance #data

AI in your banking processes? The AI act is here. Join us for an educative webinar focused on understanding the AI regulation and how it affects banking! When: Wednesday, June 12, 2024 · 2:00 PM CEST Who is it for: For Data, AI, Risk & Compliance experts What’s covered: - Learn why the AI Act matters for banks and how it identifies high-risk AI systems. Discover which of your AI systems may be at risk and why it's important to know. - Explore practical steps to ensure compliance with the AI Act for your AI systems. We'll discuss using open-source libraries and managing AI systems without protected attributes. - Understand how AI Act compliance fits into your bank's risk management strategy. Discover the roles of compliance and risk management teams in navigating AI regulation effectively. Register here: https://lnkd.in/gX4G5R4s #fintech #banking #ai #aiact 

💼📚In a revealing move, the U.S. Department of the Treasury evaluated the risks and legal challenges confronting banks as they implement AI technology. 🚀🏦 Their insightful report discovered that financial institutions are stumbling with #AI adoption due to lack of experience, an evolving regulatory environment, and data privacy concerns. 📈🔒 Crucially, they advocate for a careful, thoughtful approach to AI, empowering the tools to drive innovation while ensuring customer rights and data security. 💡🔑 In a digital age where #innovation is paramount, staying informed about the challenges and opportunities of AI in banking is indispensable. 🌐💰 💭 As we navigate this rapidly changing landscape, what do you think are some potential solutions to these challenges? #Banking #ArtificialIntelligence #RiskManagement #DataSecurity (Reference: https://lnkd.in/eNKr8TxG)

AI in your banking processes? You might be in trouble as of May 2024. What exactly is the EU AI act and how does it affects banking? Join us Wednesday, June 12, 2024 · 2:00 PM CEST for an educative webinar focused on understanding the latest AI regulation. Register here: https://lnkd.in/egcY2BWR Who is it for: For Data, AI, Risk & Compliance experts What’s covered: - Learn why the AI Act matters for banks and how it identifies high-risk AI systems. Discover which of your AI systems may be at risk and why it's important to know. - Explore practical steps to ensure compliance with the AI Act for your AI systems. We'll discuss using open-source libraries and managing AI systems without protected attributes. - Understand how AI Act compliance fits into your bank's risk management strategy. Discover the roles of compliance and risk management teams in navigating AI regulation effectively. #fintech #banking #ai #aiact

AI in your banking processes? You might be in trouble as of May 2024. What exactly is the EU AI act and how does it affects banking? Join us Wednesday, June 12, 2024 · 2:00 PM CEST for an educative webinar focused on understanding the latest AI regulation. Register here: https://lnkd.in/egcY2BWR Who is it for: For Data, AI, Risk & Compliance experts What’s covered: - Learn why the AI Act matters for banks and how it identifies high-risk AI systems. Discover which of your AI systems may be at risk and why it's important to know. - Explore practical steps to ensure compliance with the AI Act for your AI systems. We'll discuss using open-source libraries and managing AI systems without protected attributes. - Understand how AI Act compliance fits into your bank's risk management strategy. Discover the roles of compliance and risk management teams in navigating AI regulation effectively. #fintech #banking #ai #aiact

AI in your banking processes? You might be in trouble as of May 2024. What exactly is the EU AI act and how does it affects banking? Join us Wednesday, June 12, 2024 · 2:00 PM CEST for an educative webinar focused on understanding the latest AI regulation. Register here: https://lnkd.in/egcY2BWR Who is it for: For Data, AI, Risk & Compliance experts What’s covered: - Learn why the AI Act matters for banks and how it identifies high-risk AI systems. Discover which of your AI systems may be at risk and why it's important to know. - Explore practical steps to ensure compliance with the AI Act for your AI systems. We'll discuss using open-source libraries and managing AI systems without protected attributes. - Understand how AI Act compliance fits into your bank's risk management strategy. Discover the roles of compliance and risk management teams in navigating AI regulation effectively. #fintech #banking #ai #aiact

🚀 Artificial Intelligence (AI) in banking represents a pivotal opportunity for transformative growth and enhanced decision-making capabilities. With banks globally embracing this technology, the appointment of a Chief Artificial Intelligence Officer (CAIO) has emerged as a critical driver for sustaining competitive advantage and managing complex risks in today’s digital economy. 💼 🌐 Two-thirds of banks worldwide have designated a C-suite executive to oversee AI or machine learning initiatives, according to an annual survey on the use of AI and machine learning (ML) in financial services from the Institute of International Finance and EY, with 75% of U.S. institutions appointing a manager specifically focused on AI ethics and governance. 📊 🤖 However, the role of a CAIO demands more than just technical prowess; it requires a visionary leader who can navigate the ethical complexities of AI deployment, while driving strategic adoption of this powerful technology. Successful CAIOs must have a multifaceted skill set, blending technical expertise with strategic acumen and executive leadership. They play a pivotal role in developing AI strategy, fostering collaboration across departments and driving tangible business outcomes. 🎯   🏦 Various global banks [SF2] have already recognized the significance of AI leadership by appointing top executives to oversee AI initiatives. By elevating the AI oversight role, banks signal their commitment to responsible and ethical AI usage, both internally and to external stakeholders. 👁️🗨️ 💡 Banks must prioritize the appointment of CAIOs to spearhead their AI agendas. This entails defining the role within the organizational structure and empowering CAIOs to drive AI strategy from the top. By embracing AI leadership, banks can accelerate digital transformation, establish themselves as industry leaders and ensure long-term success in the AI-driven landscape. 🌟   #CAIO #GenAI #StrategicLeadership #EthicalAI #RiskManagement #Innovation #TechnologyLeadership https://lnkd.in/dCM7TYBq

Interesting thoughts from the #CMO of our company.

AI in your banking processes? You might be in trouble as of May 2024. What exactly is the EU AI act and how does it affects banking? Join us Wednesday, June 12, 2024 · 2:00 PM CEST for an educative webinar focused on understanding the latest AI regulation. Register here: https://lnkd.in/egcY2BWR Who is it for: For Data, AI, Risk & Compliance experts What’s covered: - Learn why the AI Act matters for banks and how it identifies high-risk AI systems. Discover which of your AI systems may be at risk and why it's important to know. - Explore practical steps to ensure compliance with the AI Act for your AI systems. We'll discuss using open-source libraries and managing AI systems without protected attributes. - Understand how AI Act compliance fits into your bank's risk management strategy. Discover the roles of compliance and risk management teams in navigating AI regulation effectively. #fintech #banking #ai #aiact

As AI/ML models proliferate through financial institutions, regulators are responding quickly. Benjamin Peterson looks at how regulators, such as the UK’s Prudential Regulatory Authority, intend to mitigate the unique risks of financial AI/ML and what it means in the short term for banking MRM functions and risk owners worldwide. Download our whitepaper to learn more. #artificialintelligence #machinelearning #modelriskmanagement #banking