Accenture Middle East’s Post

These days everyone is talking about #artificial #intelligence (#AI) ... except the European Central Bank. AI could profoundly change how #banks operate, and how they are supervised. So far, though, #ECB #banking #supervision has only discussed AI and its impact at a very high level. That may need to change soon. My latest Substack post is now live: #SSM #digitalbanking

Interesting consequences.. Thank you Michael Charles Borrelli, for sharing this insightful post. Sharing luke Clancy’s article (paywall). Key quote from the intro - for understanding the context: “Artificial Intelligence Act will create new regulators purely for the technology. Existing financial regulators such as the European Central Bank already oversee the use of AI by EU banks as part of their supervision of model risk.” So the issue is now they have two regulators on the tech they use. Comments on his post add some interesting ideas and issues. What are your hot thoughts? #ai #aichallenges #governance #euact #banking

Risk.net - EU #AI Act supervision 'headache for banks' Accusations of 'double-efforts' are being levied at European institutions responsible for #AI oversight. These fuel claims of over-regulation stymying an established technology undergoing a 21st renaissance. What do you think? Read more at > https://lnkd.in/d9fvxCxy #AI

Adoption of AI within banks - Key Trends Our colleagues Mélissa Hulin and Bao Anh Nguyen are pleased to share the highlights from the event "Adoption of AI within banks, from innovation to business processes" organized by Revue Banque Brilliant discussions with : Christophe Hurlin, Hervé PHAURE, Idriss S., Didier Lellouche, Ruta Merkeviciute, Anselmo Marmonti, Mark Thundercliffe, Terisa Roberts, Dr. Marc Pfeiffer and Ibrahim TOURE, FRM®. Animated by Abdelhafid El Attar from SAS Follow EthiFinance for more insights.   #creditrisk #banks #IA #datagovernance #digitalrisk #transitionrisk  #riskmodelling #EthiFinance

We are delighted to announce Sameer Gupta, Chief Analytics Officer at DBS Bank, as one of our speakers at Evident’s inaugural European Symposium in London on June 19. For our first European gathering, we are zeroing in on the theme: how can we accelerate outcomes and drive value from AI today? In 2023, we saw investment pour into AI across the banking sector: strategies were set. Centralised AI teams were established. Gen AI use cases were ideated and prioritised. In 2024, it’s all about delivering value. Over the course of the day we’ll explore: - The leading use cases: how are banks harnessing AI to create value? - The way to scale: how do centralised platforms enable banks to accelerate AI deployment? - The quantum horizon: how will quantum technologies affect banks? - The agent movement: what does the emergence of agentive artificial intelligence mean for the banking sector? Find out more about the Symposium and register your interest here: https://lnkd.in/ex5KWFSg To keep up-to-date with the latest Symposium announcements, sign up to our fortnightly newsletter The Brief here: https://lnkd.in/eBPtFKB8 #evident #ai #artificialintelligence #banking #finance

Artificial intelligence (AI) is opening up completely new opportunities increasingly complex and highly regulated market environments. Read more 👉 https://lttr.ai/ATsXL #Data #Regulation #RiskManagement

🚀 Unlocking the Power of AI/ML in Financial Supervision: A CFO's Journey 🚀 Last week, a curious 17-year-old asked me why I'm diving into the world of AI. My response? "What I've learned in the past has made me an impactful CFO today. But to stay impactful in a world that's marked by perpetual change and innovation, I need to have a relentless commitment to continuous learning and adaptation." Excited to announce my new journey as a contributor at Elevandi Insights! 📝 My debut discussion paper explores the use of AI/ML in financial supervision by central banks. From predicting economic trends to proactive risk management, the possibilities are endless! It not only represents a paradigm shift for central banks but can also help supervised entities (i.e banks and financial institutions) to reduce cost of compliance. Join me as we delve into how central banks worldwide are harnessing AI to reshape regulatory oversight. Let's advocate for collaborative efforts to integrate AI responsibly into regulatory frameworks, while acknowledging the challenges of achieving advanced machine reasoning. A big shoutout to Navin Suri for his support and guidance on this incredible journey! 🙌 https://lnkd.in/gwDFFTAy #artificialintelligence #machinelearning #generativeai #aiadoption #regtech #suptech #payitforward

New AI act could create supervisory turf war, say policy insiders. https://hubs.ly/Q02k9QZt0 Non-subscribers can get a snapshot of Risk’s coverage. Registration is free and allows you to read two articles a month: https://hubs.ly/Q02k9Pbt0

From BIS. The use of artificial intelligence (AI) and machine learning (ML) in banking raises important prudential and financial stability challenges, according to Pablo Hernandez de Cos.

Did you imagine that one of the most regulated industries would deploy AI so quickly. The European Central Bank begins experiments and is working with other world banks. Fascinating. But consider the use cases they are working with - those that drive efficiency and effectiveness. Which is exactly how so many other industries are deploying this evolving tech. #AI #tech #bankingsolutions