Financial Services and AI
In recent years, the financial services industry has seen a significant number of changes. Key to this has been the rise of big and open data. Financial institutions, both retail and commercial, have more data on their customers than anyone else. However, this information is rarely used in the most efficient way.
A recent study by The Alan Turing Institute sets out some of the issues affecting the sector, as well as how the rise of Artificial Intelligence and machine learning is transforming how data is used by banks. A range of such processes is now being used across the financial services industry, including robotic and intelligent process automation (RPA and IPA). Automated assistants such as Siri, Alexa and Google Home are giving consumers even more options over their spending habits, whilst machine learning and other algorithms are rising ethical questions for how financial institutions use and regulate themselves.
These innovations are being driven by advances in data analytics as financial services embrace the challenges and opportunities posed by the harnessing of ever growing data sets. This roundtable will look at the latest developments in AI and machine learning in the sector, as well as the regulatory and ethical pressures that they pose to the future of the industry.
The APGDA will discuss these issues in a Parliamentary roundtable on Tuesday 22nd October. The event will be led by the APGDA’s Chair, Daniel Zeichner MP. It will also feature presentations from Visa Europe and Equifax on the latest technological innovations by the sector.
Attendees will consist of a number of key figures from the financial services industry, academia, regulators and Parliament.
Please contact Jack Tindale if you would be interested in attending.