Artificial Intelligence Risk

Artificial intelligence and machine learning (AI/ML) are disruptive technologies for the financial services sector.

Companies in financial services are eagerly adopting artificial intelligence and machine learning (AI/ML). AI involves the “simulation of intelligent behavior in computers,” while ML “uses algorithms to process large amounts of data and learn from it.” Financial firms want to leverage AI/ML in four main areas: improving customer service and products, streamlining internal infrastructure and efficiency, optimizing revenue, and enhancing risk mitigation and fraud detection.

However, four AI...