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

  • Accentuating customer experience: Digital Chat Agents & Chatbots

    As e-commerce (and retail in general) becomes increasingly global and competitive, business leaders understand that AI can be a valuable tool in reconnecting with consumers. AI has the power to analyze huge amounts of data from numerous sources, including human behaviors and emotions. This can then be used to create more meaningful customer experiences. Take, […]

  • Redefining Business with Algorithms

    Algorithms will not only drive scores of business processes, but also build other algorithms, much as robots can build other robots. And rather than using apps, future users’ lives will revolve around cloud-based agents enabled by algorithms. Gartner expects that by 2020, smart agents will facilitate 40% of all digital interactions. Organizations will license, trade, […]

  • JPMorgan Completes Live Intraday Repo Transaction using Blockchain

    IBM-Launches-New-Blockchain-Project-Collaborating-with-Big-Firms

    Investment bank JPMorgan says it has completed a live intraday repo transaction using a blockchain solution that will soon see a commercial launch. The repo trade was carried out between JPMorgan’s broker-dealer and banking entity, the bank announced Thursday. The blockchain application used was developed in-house by the bank’s blockchain business arm, Onyx, and is said to […]

  • How AI is transforming Financial Services

    Since its inception, AI has experienced at least two major hype cycles with resulting winters of disillusionment. Although after the first “winter”, many financial firms deployed a number of successful applications, by the 1990s, AI went into its second winter of disillusionment as realization set in that these systems were harder and more costly to build and maintain […]