Rippleshot’s Post

Artificial intelligence is proving to be a game-changer for core banking processes. With its ability to analyze vast amounts of data in real-time, AI is driving more personalized and efficient service for customers. Plus, it's playing a vital role in fraud detection and prevention. #AI #BankingInnovation #Fintech https://lnkd.in/g5f_xy7q 

What's the biggest advantage that AI brings to risk and compliance? Efficiency appears to be the biggest attraction, according to 550 risk and compliance professionals surveyed in a report by Moody's Corporation. Improved efficiency: 72% see it as an advantage of AI Increased speed: 72% Cost savings: 66% But effectiveness also matters: Scalability for larger data sets: 61% see it as an advantage of AI Enhanced accuracy: 51% Reduction in false positives/negatives: 49% Ability to tackle more complex issues: 45% For a demo on how HAWK:AI uses explainable AI to help banks and payment providers to improve efficiency and effectiveness, visit: https://hawk.ai/ #aml #ai #artificialintelligence #antifraud #financialinstitutions #banks #fincrime

What's the biggest advantage that AI brings to risk and compliance? Efficiency appears to be the biggest attraction, according to 550 risk and compliance professionals surveyed in a report by Moody's Corporation. Improved efficiency: 72% see it as an advantage of AI Increased speed: 72% Cost savings: 66% But effectiveness also matters: Scalability for larger data sets: 61% see it as an advantage of AI Enhanced accuracy: 51% Reduction in false positives/negatives: 49% Ability to tackle more complex issues: 45% For a demo on how Hawk uses explainable AI to help banks and payment providers to improve efficiency and effectiveness, visit: https://hawk.ai/ #aml #ai #artificialintelligence #antifraud #financialinstitutions #banks #fincrime #compliance

"AI in Banking: Executive Cheat Sheet" https://lnkd.in/gans83g Emerj #AI Cheat Sheets serve as essential executive guides to AI applications and trends in critical industry areas. This brief 9-page guide can help #banking leaders identify and capitalize on emerging AI trends with six use cases from WellsFargo.com, Citibank and more.

"AI in Banking: Executive Cheat Sheet" https://lnkd.in/gans83g Emerj #AI Cheat Sheets serve as essential executive guides to AI applications and trends in critical industry areas. This brief 9-page guide can help #banking leaders identify and capitalize on emerging AI trends with six use cases from WellsFargo.com, Citibank, and more.

🏦 Is Your Bank 2.0 Powered by AI? Check out our latest blog post to find out! From intelligent virtual assistants to personalized financial services, we've compiled a comprehensive checklist to help you assess if your bank is leveraging AI to its fullest potential. 📈 Don't miss out on exploring new opportunities for growth and success with AI! Reach out to us today to learn more. #Banking #AI #Innovation #Fintech #DigitalTransformation Karan Bhalla Suchit Shah https://lnkd.in/gGizMjxc

I recently came across a article highlighting that Generative AI can deliver significant new value to banks between $200 billion and $340 billion. The applications of GenAI, such as credit risk modeling, fraud detection, and personalized customer interactions, illustrate AI's multifaceted role in elevating operational efficiency and customer-centricity in the banking ecosystem. GenAI can also create new data, which could help banks follow privacy rules while still being innovative. While I notice a huge prospect of Generative AI in the banking segment, we still need a foolproof strategy in place to leverage the complete potential of Generative AI. What is your opinion on it? Please share your thoughts in the comment below. #generativeAI #banking #strategy

This post is about AI’s existential threat to the banking business model. Think about six impossible things before breakfast. This was the White Queen’s advice to Alice in Through the Looking Glass. Technological change over millennia has been a constant source of impossible things. Things that could not happen until they did. For most of human and pre-human history people went a whole lifetime and saw no technological change. Today you are lucky if a day passes. And, Arthur C Clarke’s famous third law applies: Any sufficiently advanced technology is indistinguishable from magic. We are often told of the power of AI in the hands of companies. But less often do we talk about the power of AI in the hands of the customer. The only advice left about the banking business model is that given to Alice by the Red Queen. Which means a lot of running. #artificialintelligence #AI #banking

In 2024, regulators’ attitude to AI has to change. It’s safe to say that AI is pretty controversial. There’s more fear around it taking jobs than productive conversation of its benefits. And, for the banking sector, the tech could transform operations completely. For the better. 1. Targeted, hyper-personalized financial advice. 2. Swifter, chatbot-powered customer service. 3. Improved, seamless fraud detection. Those are just three of the many benefits. So, beyond it being a buzzword, AI could genuinely change the banking game. Of course, there are risks to widespread AI adoption – I won’t deny that. But, given its potential, there’s definitely an argument for loosening regulation of the tech in financial services. And that’s 100% a change I’d like to see. #AI #regulations #bankingindustry #bank

Thanks, Javier Guevara Torres for this insightful blog. #GenAI is proving to be a catalyst for unleashing the full power of AI/ML in Financial Services. However, essential considerations such as #responsibleai will need constant review and attention given the potential regulatory and reputational risks. Scaling some of the #GenAI use cases in Banking will require a dual culture of experimentation and risk mitigation to go hand-in-hand. #EnterpriseGradeGenAI #FinancialServices #Fintech #AIML #GenAIExperimentations