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 grand opportunity and great challenge

The Ethics of AI : AI in the financial services sector: grand opportunities and great challenges

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In areas such as fraud detection, risk management, credit rating and wealth advisory, AI is already augmenting or even replacing human decision makers. In fact, not deploying AI capabilities in these fields can be considered disastrous. Withthe ever-increasing amounts of data that needs to be processed, AI systems are a must-have to improve accuracy. As technological capabilities continue to improve, the amount of available data grows, and competitive pressures mount, the use of AI in finance will be pervasive. However, as with any new technology the adoption of AI brings its very own set of challenges.

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