India's largest platform and marketplace for GCC & AI leaders and professionals

Sign in

India's largest platform and marketplace for GCC & AI leaders and professionals
Become a Thought Leader
Become a 3AI Member

Sign in

3AI Digital Library

< Go Back

AI/ML Ecosystem in Financial Services

3AI June 19, 2022

Gokulraj Perumal 
Associate Principal
 eClerx

Technology-led customer expectations, fintech disruptors, challenging & changing regulatory frameworks and the blurring lines between industries….bank, insurance, IT, retail and telco businesses keep life interesting for the Financial Services sector. Financial institutions are finding new ways to incorporate tech into their services to be competitive and AI/ML are an integral part of this agenda.

In this session, Gokul shared interesting insights on the adoption of AI/ML in Financial Services and the spectrum of aspects AI/ML journey needs to address in this industry. He gave a walkthrough of the areas where the AI/ML are being applied – Fraud detection (transaction monitoring and anti-money laundering), Trading, Credit risk management, Personalised banking, Intelligent document processing, Process automation, Predictive analytics and control functions.

Gokul also touched upon Privacy Enhancing Computation & Explainable AI aspects which are of higher importance for the financial institutions as compliance and regulatory aspects.

    3AI Trending Articles

  • Mitigating Bias in AI Systems

    Featured Article: Author: Kritika Saraswat & Sreedhar Sambamoorthi, AB InBev Twenty Years ago, science fiction stories were ripe with futuristic scenarios with cars driving themselves, computer writing stories and human-like holograms responding to any and every query that we had. These scenarios were considered a figment of good writer’s imagination and books and movies on […]

  • IoT devices at risk from Amnesia:33

      A new series of vulnerabilities dubbed Amnesia:33 puts millions of IoT devices at risk of being compromised. Security researchers from Forescout disclosed the 33 vulnerabilities today. The flaws are found in four open-source TCP/IP libraries used in the firmware of products from over 150 vendors. According to the researchers’ estimates, millions of consumer and […]

  • Data for AI -Optimizing AI Governance and Implementing Key Performance Indicators for Success

    Featured Article Author: Prabhu Chandrasekharan Artificial Intelligence (AI) is revolutionizing industries by driving automation, optimization, and innovation. As AI systems become more complex, establishing robust governance frameworks focused on ‘Data for AI’ is essential. This ensures data quality, security, and neutrality, leading to reliable AI outcomes. Effective AI governance hinges on several Key Performance Indicators […]

  • The Evolution of Generative AI and Human Creativity: Ethical Concerns and Future Perspectives

    Featured Article Author: Bhabani Chatterjee, Capgemini Invent Generative AI revolutionized notions of creativity — in manufacturing, product design, content creation, and problem-solving across various domains. These advancements not only push human invention further but also open up a new world for enterprises and individuals. Of course, ethical implications abound, but the excitement is undeniable. The […]