Ethics, governance, and regulation will be essential in using big data and artificial intelligence

Jorge Sicilia participated in a meeting organized by the Global Interdependence Center at the Rafael del Pino Foundation. His presentation covered "Financial technology in banking / artificial Intelligence"' focusing on the opportunities and challenges associated with the use of data in the banking sector. Even if banking functions themselves haven't changed, they now entail an extensive and dynamic use of data, the primary raw material of today's technological transformation. Data is causing the sector to change in response to new massive personalization opportunities and the fact that multiple suppliers can create individual markets for each user. The functions don't change, it's the people involved who change and how they carry out these services. Big data and artificial intelligence are key across the value chain.