Christopher White’s Post

Sector spotlight: Global Banks The 2024 Financial Institutions Sentiment Survey reveals that 67% are optimistic about the long-term outlook for the UK economy, and 81% view AI as an opportunity for their business. Christopher White, Managing Director, Head of Global Banks and Specialist Finance, Lloyds Bank comments: "While there is a growing level of confidence amongst respondents, global banks are having to navigate several challenges and opportunities, given the evolving regulatory landscape, political and economic uncertainty, and the adoption and utilisation of AI.” Read the report > http://spr.ly/6043ifHDd

Sector spotlight: Global Banks The 2024 Financial Institutions Sentiment Survey reveals that 67% are optimistic about the long-term outlook for the UK economy, and 81% view AI as an opportunity for their business. Christopher White , Managing Director, Head of Global Banks and Specialist Finance, Lloyds Bank comments: "While there is a growing level of confidence amongst respondents, global banks are having to navigate several challenges and opportunities, given the evolving regulatory landscape, political and economic uncertainty, and the adoption and utilisation of AI.” Read the report > https://lnkd.in/eQzTnstK

Exciting times are ahead as Banking encourages the use of AI 🚀 The Bank for International Settlements (BIS) recently urged central banks to embrace AI to enhance their analytical capabilities and ensure financial stability. The BIS's report highlights AI's transformative potential in reshaping financial systems, employment markets, productivity, and economic growth while noting its potential impact on inflation dynamics.📈 So, what does this mean for the UK? 🤔 The Bank of England adoption of AI could revolutionise economic forecasting and risk management. It might even improve our anti-Truss rating! By leveraging real-time data, they should be able to better predict inflation, detect financial vulnerabilities, and make more proactive interventions. This not only boosts financial stability but also fosters economic growth and resilience.🎯 This translates to more stable economic conditions, potentially lower interest rates, and improved financial services. Now there is something to celebrate. AI's efficiency can reduce payments, lending, insurance, and asset management costs, benefiting consumers and businesses. However, addressing the risks, such as cyber threats and market volatility, is crucial.💻 By fostering a collaborative environment and sharing best practices, central banks can harness AI's full potential, ensuring a stable economic future for everyone. Pie in the sky or next-gen thinking?🏦 #businessintelligence #strategy #growth #smes #audience

Bank of England to review AI risks as it warns of ‘challenging’ global economy – business live LINK: https://lnkd.in/eDY4sZ8F Hashtags: #BankingAndFinanceNews #Banking #Technology Please Repost

AI is moving faster than regulatory updates. Where does that leave banks? With a U.S. leadership shuffle and international models in mind, expect mostly business-first regulation. https://lnkd.in/e45H8g3m

Capital One and Bank of America are the ‘influential leaders’ of the Index when it comes to AI patents. Together, their patents garnered 58% of all forward citations across the banks. However, RBC throws their hat in the ring, with the bank garnering 2.7x more citations per patent than the Index average. Will these banks continue to dominate the sector? Who else is challenging them for the top position? Download an excerpt of the report here and discover more about Evident membership: https://lnkd.in/eww7f8BH #evident #ai #artificialintelligence #banking #finance

The banking industry is at a crossroads. Inflation, higher interest rates, and possible recessions in some markets continue to swirl as new technologies like generative AI present challenges and opportunities for the sector. These risks are multiplying, colliding, and manifesting in unexpected ways.   Discover RiskN – The Era of Exponential Risk – and what it means for the banking industry here: https://mdy.link/3VlLiXg

💬 “A fear of “disrupting the status quo” is blocking innovation at mid-sized UK banks, a damning survey reveals.” Interesting insights about fear of change causing stagnation in business practices in the banking sector from John Crowley at Banking Risk and Regulation. Read the full article here: https://lnkd.in/euKznGTj #ProcessMining #AI #Innovation

The Intersection of AI and Central Banking Official Link: https://lnkd.in/g_a266nZ The Bank for International Settlements – BIS Working Paper "Artificial Intelligence and Big Holdings Data: Opportunities for Central Banks," offers profound insights into how AI can reshape monetary policy. Key highlights: - Asset Demand Systems: The paper discusses the critical role of accurately modeling asset demand systems to predict how central bank interventions affect asset prices and financial stability. - AI Integration: It explores how recent advancements in AI, particularly in creating embeddings, can enhance our understanding of asset and investor behavior, paving the way for more effective policy-making. - Real-World Applications: The authors provide examples of how these models can help in understanding financial contagion, designing optimal monetary policies, and even assessing climate-related financial risks. This report is a must-read for anyone interested in the future of finance and the transformative potential of #AI in central #banking. It underscores the importance of data availability for improving models that can ultimately enhance the resilience of our #financial systems. Tony Moroney Zvonimir Filjak Igor Babych Sam Boboev Prasanna Lohar #centralbanking #artificialintelligence #financialstability #BIS #economics

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