Anant Vashistha’s Post

Nextgov/FCW interviewed leading industry technologists about how the private sector is employing executives in charge of the emerging technology. Top three takeaways: 👉 The Chief AI Officer (CAIO) role is expanding 👉 Business understanding is crucial for success 👉 Balancing AI innovation with risk management is key Read on to learn more: https://imsap.co/6045s4YS9

Nextgov/FCW interviewed leading industry technologists about how the private sector is employing executives in charge of the emerging technology. Top three takeaways: 👉 The Chief AI Officer (CAIO) role is expanding 👉 Business understanding is crucial for success 👉 Balancing AI innovation with risk management is key Read on to learn more: https://imsap.co/6045s4mnf

Nextgov/FCW interviewed leading industry technologists about how the private sector is employing executives in charge of the emerging technology. Top three takeaways: 👉 The Chief AI Officer (CAIO) role is expanding 👉 Business understanding is crucial for success 👉 Balancing AI innovation with risk management is key Read on to learn more: https://imsap.co/6047st0U9

🎥 Unleashing the power of data & AI at Natixis in Portugal Today, we're excited to share key takeaways from our Dataiku Summit held last month. In this video, we delve into how Groupe BPCE is leveraging data and AI to revolutionize their business through: - Actionable AI: BPCE teams have used AI for years, focusing on real-world applications like risk management and anti-fraud processes. - Democratizing Data: The teams are committed to making #EverydayAI a reality! They recognize the transformative potential of AI across all departments and have dedicated teams to explore over 100+ data-driven projects. Watch the video to learn more about BPCE's journey towards a data-driven future!

Just in time for our AI in the Financial Services Industry Conference (27 June) at LUC, Citi Bank “estimate[s] the global banking sector 2028E profit pool could increase 9% or $170 billion from the adoption of AI…”See Citi, AI in Finance, Bot, Bank & Beyond, June 2024. This premier event brings together leading experts and industry executives to explore innovative applications of artificial intelligence in the financial sector. Don’t miss the opportunity to hear from our keynote speaker, Agus Sudjianto, former EVP, Head of Corporate Model Risk at Wells Fargo, who will set the stage for a day packed with valuable insights and strategic discussions. This year’s conference will delve into critical topics such as GenAI for process improvement, strategic AI deployment blueprints, and the challenges of navigating AI in a heavily regulated environment. You’ll gain in-depth perspectives on the regulatory environment, cybersecurity risks, and model risk management. Registration is open to senior level executives working in the financial services industry and academia. More information can be found here: https://bit.ly/3OvwRdN (link also in comments below)

I recently attended the Financial Services Forum at Databricks Data+AI Summit and was truly impressed by the insightful and well-organized session. I've summarized three of my favorite use cases from the event featuring S&P Global, J.P. Morgan, and TD Bank. Junta N. #Databricks #AI #LLM #Data #dataaisummit

AI Risk Looms Large in the Boardroom Public company board members say the swift rise of AI in the workplace is an issue that is keeping them up at night. Some board members point to recent concerns around employees putting proprietary code and documents into ChatGPT, companies using generative AI to incorrectly source content or worries about so-called #hallucinations where generative AI produces false or inaccurate information. Adding to their nightmares, board members worry that they could be held liable in the event AI solutions offered by Microsoft Google Meta and Salesforce leads to company problems. In recent years, some legal actions from shareholders have focused on whether board members—not just executives—exercised sufficient oversight of company risks. Board members, or directors, sit a level above management. Their job is to take a more independent view of company oversight, from risk management to culture to hiring the next CEO. Emerging technologies have been both a boon and a headache for companies. Now that AI is front and center, board members are on the front lines of making rules on where and how it should be used—guidelines that could be crucial to the course of the powerful and fast-evolving technology. AI Takes Center Stage AI’s rapid rise has many boards racing to catch up. In 2023, 95% of directors said they believed the increased adoption of AI tools would affect their businesses, while 28% said it wasn’t yet discussed regularly, according to a survey of 328 public-company board members by the National Association of Corporate Directors, the largest trade group for board members. That is changing as more board members say they are educating themselves on how generative AI can affect a company’s profit—potentially boosting productivity but also bringing risks that will be difficult to assess. AI Best Practices > Bad data is a leadership problem - make sure your C-level leadership prioritizes not just AI, but enterprise data strategy > Set-up a cross functional team that evaluates AI initiatives and reports to the C-suite to streamline the best projects, while killing the science projects and dangerous projects > Create a "state-of-AI" review and report for Board consumption quarterly. Increase visibility and awareness of projects, impact, and risk Credit Emily Glazer, Wall Street Journal #genai #ai #llm #risk #leadership #innovation #legal #bigdata #data Terzo

🚀 Webinar Alert: The Future of Financial Services with GenAI 🚀 Hello, LinkedIn community! I'm thrilled to announce I'll be participating in the forthcoming webinar "GenAI’s Role in Transforming the Future of Financial Services". This event is a must-attend for anyone curious about the transformative potential of generative AI in the financial sector. Date & Time: April 3, 11:30 a.m. ET Cost: Complimentary Why should you attend? The financial services industry is on the cusp of a major transformation, driven by the advancements in generative AI. With SAS leading the way in AI innovation, this webinar is the first of our GenAI series designed to demystify the hype and delve into the real impacts and potentials of generative AI in finance. What will we cover? - Insights from 40 Years of AI: Learn from SAS's vast experience, current GenAI investments, and our perspective on potential risks and rewards. - Practical Applications: Discover actionable strategies and use cases to help your institution leverage GenAI effectively. - Future Implications: Explore emerging trends and the transformative impact GenAI is poised to have on the financial services industry. - GenAI for Good: Understand how GenAI can enhance customer satisfaction and privacy in innovative ways. Meet the Experts: Stephen Greer (Moderator) - Banking Advisor, SAS Matthew Jones - Head of Risk Decision Science and Analytical Innovation, Nationwide Building Society Iain Brown Ph.D. Brown - Head of Data Science, SAS (That's me!) Anthony Mancuso - Director, Risk Solutions Consulting, SAS This is an unparalleled opportunity to hear from SAS data scientists, industry experts, and partners about the challenges, opportunities, and incredible potential of GenAI in financial services. Don't miss out on this comprehensive exploration of GenAI's role in shaping the future of finance. Register now to secure your spot! Looking forward to engaging discussions and sharing valuable insights with you all. See you there! #GenAI #FinancialServices #AI #DataScience

Making Everyday AI a reality Actionable AI focusing on real-world applications like risk management and anti-fraud processes.

AI’s rapid rise is keeping board members up at night. Just under six months ago, I had the privilege of speaking at the Digital Trust Summit, cited in the article and founded by the incredible Dominique Shelton Leipzig. There, we helped public company board members get a better handle on AI risks. As AI becomes increasingly central to business strategy, boards are becoming more sophisticated in their discussions—but the pace of change is grueling. Here are three things boards should do today: 1. Inventory AI risks: Start by identifying where AI is being used and assessing the level of exposure. Quantify the number of users, pinpoint areas of likely risk, and consider the cost of potential mistakes. Ask questions about privacy, reputational risk, and consumer trust. Prioritize based on both the risk and the value created for the organization and your customers. 2. Commit to continuous learning: With AI rapidly transforming business practices, it’s crucial that directors, especially those not actively involved in day-to-day operations, stay informed. This ongoing education will ensure that they can keep pace with AI’s ever-changing landscape. 3. Complement existing expertise with AI governance capacity: Involve AI experts—through dedicated AI councils or external advisors with the right credentials. I’m grateful for the leadership of IAPP - International Association of Privacy Professionals who have created one of the first formal certifications in AI Governance. Thanks to Dominique’s leadership and the support of leaders like Mike Gustafson, we’re advancing responsible AI governance. Further was proud to support this important event, and we're excited to keep driving these conversations forward. One thing is clear—there’s no one-size-fits-all approach to AI governance. Check out the full article below 👇 Is your board ready?