How JPMorgan And Jamie Dimon Balance Risk And Innovation In AI-Powered Finance
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Published 2024-04-19
The panel includes Edward J. "EJ" Achtner, head of the Office of Applied Artificial Intelligence at HSBC, Alexandra Mousavizadeh, co-founder and CEO of Evident Insights, and Brian Mullins, CEO of Mind Foundry.
The group first discusses how banks like HSBC and RBC have a huge opportunity to significantly reduce the time that it takes to perform banking operations, financial analysts tasks, and hopefully empowers the employees to increase their productivity using AI. EJ shares that HSBC has over 1,000 applications across their operations that use AI every day.
They also discuss some of the risk factors of using AI, such as understanding what AI models can and can't do for each business. AI can't solve all of the problems for them, so they have to understand that you choose the applications that's best fit for each company.
Finally, the panel predicts some merging AI trends that business leaders will monitor over the next decade. Brian is eager for people to learn the power of AI and use them to their advantage to gather a whole lot of information quickly.
00:00 - Financial Services and Generative AI
00:34 - The AI Maturity of Banks
02:46 - Early Adopters' Strategies
04:46 - Strategies for Banks
06:59 - Risks of Generative AI in Finance
10:11 - Reskilling the Workforce
12:22 - Emerging Trends
16:10 - Managing Unstructured Data
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