Rob Walls’ Post

A recent study by Visa has revealed that 83% of Gen Z consumers in Singapore are aware of generative artificial intelligence (AI) and its potential to enhance their banking experiences. Adeline Kim, Visa Country Manager for Singapore & Brunei, said, “There is immense potential in generative AI, where it is predicted that Gen AI brings US$320B worth of value to the banking industry. We also believe there are interesting use cases in banking that could emerge which includes using Gen AI to create more efficient and automated customer service and drive hyper-personalised content and product customisation to serve customers. Combating fraud leveraging Gen AI is also another great example. We introduced the Visa Account Attack Intelligence score this year, which uses Gen AI components to identify and score enumeration attacks.” https://lnkd.in/gDfWhEkG

** Top Tech and AI News ** Welcome to today's update from DevTech.pro, bringing you the latest and most impactful news in AI, Tech, and API integrations to keep you informed and ahead of the curve. AI News: How Visa employed artificial intelligence to check $40 billion in fraud as scammers also take to AI Visa is combatting $40 billion worth of fraud by utilizing artificial intelligence and machine learning tools. The company analyzes over 500 attributes per transaction to create a risk score, detecting and preventing fraudulent activities. Fraudsters are now leveraging generative AI to make their scams more convincing than ever, resulting in significant losses for consumers. By investing in technology and implementing AI, Visa aims to reduce fraud and enhance network security. Incidents involving generative AI fraud are expected to increase in sophistication, potentially leading to billions of dollars in losses in the coming years. (Learn more at: https://lnkd.in/evHj2PSw) #devtech.pro #AI #technology #trending #news #innovation #technology #creativity #knowledge #entrepreneurship This article is written and published by Doki. Doki is our documentation's and social media's AI Agent.

We have an industry tested( more than 7 years ) AI regulatory reporting offering , that has been deployed with the British government, Singapore Monetary Authority, investment firms, global banks, legal and other institutions.   Our AI solution can be implemented for Revenue Generation, Risk Management, AML and Compliance as well as tremendous overhead savings. Our technology and approach will provide more flexible solutions faster, more cost effectively and ultimately the highest accuracy. (high 90’s accuracy with full traceability)   We can emulate your specific workflow requirements and unlike other solutions, we provide full data and decision transparency. With our ability to accept and analyze data from any sources including but not limited to financials, reports, files, news and prices for analysis we can demonstrate and provide new capabilities firms need to compete and manage the increasing risk and regulatory environments.  Our solution can increase the productivity of your organization teams up to 50 to 1 (as case studies of our solution have proven). interested in a chat and or demo? [email protected] 

Steven Alexander inquires: "What can possibly go wrong? Did I mention AI is not going away anytime soon?" 𝗩𝗶𝘀𝗮 𝗨𝘀𝗲𝘀 𝗠𝗼𝗿𝗲 𝗧𝗵𝗮𝗻 𝟱𝟬𝟬 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝘃𝗲 𝗔𝗜 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 https://lnkd.in/enzX_5PS Visa reportedly uses more than 500 generative artificial intelligence applications and is looking to add more. The company aims to gain the benefits of the technology sooner than others and keep up with the increasingly sophisticated threats the industry faces from fraudsters, The Wall Street Journal reported Friday (Nov. 1). “This is a time when I think we have to innovate very fast,” Visa President of Technology Rajat Taneja said, per the report. Visa’s range of AI tools includes one that finds security bugs in code, one that helps subscribers select their billing cycles, and chatbots that serve as subject matter experts on specific parts of the business, according to the report. The company’s investments in AI and data infrastructure have added up to $3.3 billion over the last 10 years, the report said. Measuring the return on investment can be a challenge, the report said. While the ROI of AI tools meant to prevent fraud can be gauged by the dollar value of fraud they prevented, that of productivity apps can be more difficult to determine. Looking ahead, Taneja said he would like to see teams of “AI employees” overseen by humans, per the report, with each AI employee focused on a task and each team of eight to 10 such tools overseen by one human.

Exciting news! My friend Giorgio Giuliani's blog "Fintech Ruminations" is about to get even more interesting. I am thrilled to announce that I will be guest blogging a series on the red-hot topic of AI in financial technology. While Giorgio usually covers the latest fintech trends, my posts will dive deep into the ways AI is revolutionizing finance. Make sure to subscribe to stay up-to-date on this fascinating series!

What if 64% of your customers were ready to jump on AI? Are you ready for them? Visa’s latest study shows 71% of Southeast Asians want AI in their #banking. And it’s not just about automation—Gen AI is about unlocking $𝟯𝟮𝟬𝗕 of value by creating real, personal experiences. 📌 Customers don’t just want faster service—they 𝘦𝘹𝘱𝘦𝘤𝘵 it. Personalized offers? Better fraud protection? That’s the standard now. 📢 Imagine giving your customers exactly what they need, before they even ask. That’s AI. Less friction, more loyalty. More value, less hassle. 💰 Source: Visa

Artificial Intelligence is currently one of the most discussed technological trends and its impact on our society is expected to be significant. For this reason, at Fintech Ruminations we have decided to launch a monthly bulletin focused on key AI events within the financial sector. This bulletin - that will be curated by my friend Evgeny Krapivin - will feature a curated selection of news, papers, and articles designed to keep you informed about AI developments without overwhelming you with the inevitable noise surrounding this rapidly evolving field. Find here the first issue: https://lnkd.in/de6C8qKd #AI #fintech

Visa - Opportunities for Generative AI in Financial Services  Source:https://lnkd.in/gRav9-wG #visa #twif #genai #opportunities #financialservices #finance #ai Credits: The banks that benefit the most from Gen AI will be those with: 1. Large amounts of customer data, to allow them to train more nuanced Gen AI models for everything from underwriting to customer service. 2. High compliance standards and a track record of effective monitoring, to ensure both back-end and customer-facing Gen AI tools are leveraged responsibly 3. Forward-thinking product teams and partnerships with innovative fintechs, to leverage a variety of industryleading Gen AI products from partners while also building sophisticated internal tools based off of proprietary machine learning models. Along with the unrealized opportunities, there are also still many unanswered questions to explore: 1. Does the incorporation of generative AI in financial services really provide a sustainable edge? Or will the product moat erode over time as competition between LLM providers drives down prices and banks and fintechs reach AI feature parity, similar to hosting in the cloud vs. on-prem? 2. Do specialized LLMs like Hyperplane’s banking specific Mandelbrot language have an inherent advantage over generic LLMs trained on higher volumes of data? 3. How will the regulatory response to Gen AI alter how banks and fintechs are able to incorporate this emerging technology into their product offerings? 4. Will every financial product necessitate a Gen AI component in the future, or are there bespoke, human capital-intensive service areas – such as M&A or international expansion – that will continue to be the domain of subject matter experts? Regardless of what the future holds, a few things are clear: 1. Gen AI in financial services is no longer “on the way” – as evidenced by many examples, it is here today and banks and fintechs need to take notice and respond. 2. The regulatory treatment of Gen AI is still relatively new, and will largely determine how products can be developed and offered in the future. 3. Even with the recent activity and innovation exemplified in this paper, there is still significant unexplored territory in Gen AI in financial services that signals a future ripe with opportunities for banks and fintechs alike.

How is AI revolutionizing digital payments? Let’s dive in! 🌍💳 AI is not just enhancing digital payments; it’s rewriting the rules. Here’s how: Fraud detection in real time: Advanced algorithms analyze millions of transactions every second, identifying and preventing fraud before it impacts users. 🔒 Faster cross-border payments: AI eliminates bottlenecks, enabling near-instant international transactions at lower costs. 🌐 Personalized payment journeys: With AI analyzing spending patterns, customers receive tailored offers, discounts, and seamless experiences. ✨ Voice and facial recognition: Biometrics add an extra layer of security, making passwords feel outdated. 🎙️ AI-powered wallets: Virtual assistants now help manage finances, predict bills, and even recommend investments. 💼 These innovations mean more than convenience—they redefine trust, speed, and connectivity in financial ecosystems. As businesses and consumers embrace these changes, we’re heading toward a future where payments are intuitive and proactive. What’s your take on the role of AI in transforming financial systems? Are we ready to go completely cashless, or is there more work to do? Let’s spark a conversation! 💬 #AI #DigitalPayments #FintechInnovation #FutureOfFinance #MachineLearning #GlobalEconomy #FraudDetection #TechForGood #SmartPayments #AIIntegration

How Businesses Leverage AI in Payments 🔖 Payment firms have some unique characteristics. They leverage #risks, regulations, competition and #customer engagement in many ways. This means #AI could have profound implications with potential opportunities to seize, and new challenges to navigate. 🔖 Visa Consulting & Analytics (VCA) believes that the payments sector has numerous unique factors to consider in adopting generative #AI. Generative #AI can help financial institutions (#FIs) ☑ acquire more customers ☑ drive customer engagement ☑ improve the customer experience for optimal growth. #generativeai #ai #financialinstitution #fintech #payments #engagement