Generative artificial intelligence (AI), autonomic systems and privacy-enhancing computation are three technology trends gaining traction in banking and investment services in 2022, according to Gartner, Inc. Banks will apply generative AI in growth areas such as fraud detection, trading prediction and risk factor modeling. Autonomic systems exist in a basic form as roboadvisors, but more advanced forms will emerge. 60% of large organizations will use one or more privacy-enhancing computation techniques by 2025.
AI and ML have the potential to advance financial services more than any other emerging technology. With AI, financial services can better mitigate risk, optimise portfolios, combat financial crime, deliver personalised customer experiences and more. It transforms the finance industry by enabling frictionless 24/7 customer interactions, reducing the need for repetitive work, lowering false positives and human error and optimizing cost. Pravat Sutar will share insights on hyper automation / cognitive automation in Banking & Finance Industry on Risk Management, Credit Scoring, Payment Processing and Contactless Payments.