For Financial Institutions, AI usage boils down to one thing, and that is trust.

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For Financial Institutions, AI usage boils down to one thing, and that is trust. As demonstrated by the recent publication of a report by EY, you have to be able to test that the outputs from AI are correct. If you don’t, you risk publishing results that are not substantiated by facts, or automating processes that add little value.

For FIs this is a problem. They tend to work well at what they do at scale, and if you play around with that without understanding you are changing and why, you can rapidly bring systems to a grinding halt.

“Now you can leave a piece of software, [and it] could go out and do 70,000 transactions,” he said, explaining that when he started on the trading floor, everyone could hear every mistake, and the room would get quiet at the smallest slip-up.

AI adoption relies on trust, and the challenge today is that the pace of AI adoption is moving faster than the pace of AI governance, risk, and control. It is moving faster than our understanding of how to manage the technology.

@Thaddeus Dziekanowski Brian D. McCarthy

@Parava Security Solutions

#ai #artificalintelligence

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