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Cities worldwide are actively vying to establish themselves as eminent Artificial Intelligence (AI) in Finance hubs to harness AI’s full potential. To stay ahead, our latest report with the Monetary Authority of Singapore (MAS) and Elevandi shows how cities must navigate two core drivers – attracting AI talent and fostering global investments. Read the full report to explore insights from our extensive industry study, coupled with outcomes of the Elevandi Insights Forum roundtable conducted at the Singapore FinTech Festival >https://owy.mn/4baMEsS APIX Platform, Amdocs #ArtificialIntelligence #Finance #SFF2023

🆕 Following extensive research and a closed door roundtable convened at the Elevandi Insights Forum held alongside Singapore FinTech Festival 2023, stakeholders including the Monetary Authority of Singapore (MAS), Oliver Wyman Asia Pacific, APIX Platform and Amdocs released a whitepaper on the role of Artificial Intelligence (AI) in the financial sector, the challenges and approaches in attracting AI talents and fostering AI investments. Read the whitepaper "Becoming a Global Artificial Intelligence in Finance Hub: Attracting Talents and Fostering Investments" now ⬇ #AIinFinance #FinTech #FinTechHub #APIXPlatform

I enjoyed reading this report from CFTE - Centre for Finance, Technology and Entrepreneurship summarising an expert roundtable discussion on Generative AI and its impact in Financial Services. Zeroing in on the use cases in Finance: as someone who has spent much of their career analysing and interpreting financial data I’m excited to see where AI applications may be developed to perform elements of the work, thereby freeing up more time for the human interpretation and overlay. Important though that we don’t lose the underlying skills and knowledge ourselves, besides being vital to audit what AI is doing its also crucial to the useful interpretation and application of the insights gained from the analysis.

The CFS | Canadian Fintech Summit this year focused on integrating #GenAI into businesses and the productivity promise of Artificial intelligence. From use cases to data sources (not to mention the infamous pitch competitions) to leaders like nesto, Google proposed their outlook on the matter and the many used cases it could serve. I noticed how leaders were overall focused on the ethical focus of the #GenAI (Pamela Hilborn for example emphasized a need for empathy and intentionality at the very beginning of your Product Lifecycle). Founders like Malik Yacoubi emphasized a need to execute at a certain speed to achieve competitiveness on a global level. Overall my opinions of the conference can be summed up to two points: - Have a clear communication of how an AI framework will operate, this framework has to be adopted first and foremost by senior management, and the "AI governance structure" must be translated into operational responsibilities across all lines of business. - Secondly, an era of active learning comes with harnessing AI as a fast-developing topic in a fast-changing environment, and leaders have to stay on top of these developments, and the onslaught of regulations, from region to region. The keyword here is awareness. Understanding the limitations, risks, and habits at every level of business operations, ensures that we are ready for any change that might come in a sound and rigorous manner. Developing a set of training programs, along with internal guidelines and policies that would be periodically reviewed for feedback and updated for content in the spirit of continuous improvement, this inclusive process allows everyone to be part of the discussion and have every management level aligned. Whether or not organizations assign a Chief Ethical Officer, or if it is a task that is tricked down through teams and hierarchy is an ongoing process, one that Canada is facing head-on thanks to initiatives set up by Peter Misek and Carol Misek. I look forward to the 10th edition. #GenAi #CAFintech #Fintech #CanadianBusiness #Ethics #AI #AIEthics #Toronto #MyThoughts #CABusiness #Innovation

👉 Citi report 'Disruptive Innovations X': Smart Money: AI in Finance "The main beneficiaries will likely be firms with a comprehensive AI strategy and a clear future target operating model that considers how to attract right talent, solve for legacy technology (before overlaying AI tools), and deal with unstructured data sets across the organization (before putting AI to work). We expect Gen AI to increase the scope for new entrants to make inroads into the financial services sector of 2025-2030." According to World Economic Forum analysis, nearly a quarter of all jobs globally will change in the next five years - brace yourself for impact. Let's start the conversation (now!) about how we manage the transformation in financial services and not if or when. This topic is top of our agenda at Copenhagen Fintech and the impact of AI will be main theme for the Nordic Fintech Week end September (link in comments). Quite sure Ronit Ghose will also cover this in his session 😉 #cphfintech #fintechmatters #nfw2024

Not just that as per the previous month's report by Tech Nation the UK AI sector is valued at £72.3bn – the largest in Europe. This data shows that positive trends for investment into the UK innovation ecosystem are manifesting and signs of early optimism are coming to fruition – particularly in the area of AI,” said Simon Bumfrey, head of technology and life sciences at HSBC Innovation Banking UK. Do you think we'll see even larger investments in UK AI and other sectors from both foreign and domestic investors as the year progresses? Share your thoughts in the comments below! 💬👇 Follow us for more updates on the ever-evolving tech landscape.  https://lnkd.in/g5KF9K5 #UKTech #AISector #Investment #TechNation #Innovation #FutureOfAI #TechGrowth #AIInvestment

The global AI market is expected to exceed $1 trillion by 2028. We've decided to invite the industry leaders to discuss and address the impact on skills. I am thrilled to announce the launch of our new report “Addressing the new skills in an AI World” by CFTE - Centre for Finance, Technology and Entrepreneurship and the British Chamber of Commerce Singapore (BritCham) following up a roundtable with senior industry leaders. Because of AI and Gen AI innovations, new players emerged, new activities were created, old roles were transformed or disappeared, and new roles appeared. New skills are therefore required to understand this new world. This report will give you an insight into: 1 -The Current Landscape of AI Skills, including how they are structured and the challenges in bridging the AI skills gap 2- The Role of Stakeholders in AI Education and Adoption, covering the involvement of individuals, private organisations and governments 3- Best Practices for Bridging the AI Skills Gap, both at an organisational and country level Thank you to all the contributors and industry leaders for bringing insightful perspectives to the roundtable. Here is the report: https://lnkd.in/emiPAJJu #AISkills #GenerativeAI #AI #Education #FinTech #Lifelonglearning #Professionals #Upskilling #Talent #CFTE Huy NGUYEN TRIEU Shameek Kundu Prag Sharma 🆑 Christophe Langlois Imane Elmajdoubi Claire Calmejane

Today at the Money20/20 conference in Bangkok, there were numerous engaging discussions and presentations, but one standout was Farhan Ahmad @FarhanAhmad1 and his insights into the future of AI in banking. 🚀 Imagining the Future: AI and the Evolution of Decision-Making 🤖 Have you ever wondered what our world will look like in 50 years? The presentation by Farnham Ahmad got people thinking deeply about the impact of AI on our lives, particularly in the realm of decision-making. Firstly, let's consider the prediction that within 20 years, AI will revolutionize all banking and payment systems. This means everything we currently rely on, even here at conferences, could become obsolete. AI will take the helm, freeing us from routine tasks. The intriguing part is our inevitable reliance on AI for decision-making. As AI proves to be vastly superior in cognitive abilities, we'll likely surrender many choices to its capable "hands." Despite our initial reluctance, the reality is that humans are wired to seek dopamine-triggering responses. When AI simplifies complex decisions, it's like a dopamine hit for our brains. Much like mice pressing a button for dopamine, we'll find ourselves increasingly drawn to AI's efficiency. This paradox of wanting to retain control while craving AI's assistance will likely result in a substantial shift of decision-making to AI. Even with AI's potential friendliness and beneficial intent towards humanity, decisions will predominantly be made devoid of emotional bias. Today, brands thrive on user experience (UX), emotional attachment, and references. However, when AI takes charge, decisions will be solely driven by value propositions, security, and connectivity — stripping away the emotional nuances. Looking ahead, universal blockchains crafted by AI could quickly steer users towards companies offering superior value, security, and connectivity. This shift could instantaneously redirect 100% of market value to these innovative entities. In summary, the future promises a fascinating interplay between AI, decision-making, and market dynamics. It's a thought-provoking glimpse into a world where AI plays a pivotal role in shaping our choices. 🌐🤖 #FutureTrends #AI #Technology #Innovation #money2020Asia

Aiming to address the recent rapid changes in technology, including the dissemination of #generativeAI, the Ministry of Economy, Trade and Industry #METI and the Japanese Ministry of Internal Affairs and Communications #MIC integrated and updated the existing related guidelines and compiled the #AI Guidelines for Business Version 1.0 based on the results of repeated discussions with experts. Key Points 🔹 Basic Philosophies: Emphasizes human-centric AI development and use, respecting human dignity, diversity & inclusion, and sustainability. 🔹 Principles: Outlines principles for AI business actors, including those related to human-centricity, safety, fairness, privacy protection, security, transparency, accountability, education/literacy, fair competition, and innovation. 🔹 Common Guiding Principles: Provides detailed guidelines on how to implement these principles across the AI lifecycle. 🔹 Advanced AI Systems: Offers specific guidelines for AI business actors involved with advanced AI systems, including generative AI. These guidelines focus on risk management, transparency, and responsible information sharing. 🔹 AI Governance: Advocates for agile governance — a continuous process of environmental and risk analysis, goal setting, system design, operation, and evaluation — to manage AI risks effectively. 🔹 AI Business Actors: Provides specific guidance for AI developers, AI providers, and AI business users, highlighting their respective responsibilities and actions. Structure of the Document 🔹 Part 1: Definitions — Defines key AI-related terms. 🔹 Part 2: Society to Aim for with AI — Presents the basic philosophies and principles for AI governance. 🔹 Part 3: Matters Related to AI Developers — Outlines specific considerations for AI developers, including data preprocessing, training, development, and post-development actions. 🔹 Part 4: Matters Related to AI Providers — Discusses responsibilities of AI providers, including implementation, provision, and post-provision actions. 🔹 Part 5: Matters Related to AI Business Users — Details responsibilities of AI business users, including the proper use of AI systems and services. Takeaways 🔹 This document aims to establish a unified framework for AI governance in Japan. 🔹 It encourages a risk-based approach, where the level of measures taken should be proportionate to the level of risk. 🔹 It stresses the importance of collaboration and communication among all AI business actors, including developers, providers, and users. 🔹 It emphasizes the need for transparency, accountability, and continuous improvement in AI governance.

Today we announce the release of our new "Smart Economy" Report. We analyzed the preferences, behaviors, and expectations of consumers in 5 countries, confirming that digital is fundamental only if it serves economic, environmental, and social sustainability. Advanced technologies, especially AI, are revolutionizing sectors like retail and banking, creating new opportunities for a more resilient and human-centric society. Future banks will no longer be mere aggregators of financial services but will become true life partners, anticipating consumer needs and offering personalized solutions. Technologies like Agentive AI are at the core of this revolution. At BIP, we are accustomed to change, and our commitment to interpreting trends to benefit our clients is paramount. To succeed, it is crucial that the governance balances technological innovation with the protection of human rights, preparing us for a new economic era. Download the report https://lnkd.in/dXxt7Rid #SmartEconomy #Innovation #technology #AI #BIP