Revolutionizing Finance: AI at the Helm

The financial sector is on the cusp of a transformative era driven by Artificial Intelligence (AI) and its powerful subset, generative AI. From chatbots that hold nuanced conversations to algorithms that predict market trends, AI is rapidly reshaping how we interact with money. Generative AI, with its ability to create entirely new data sets, is poised to further revolutionize the industry.kk

Banks and financial institutions (FIs) worldwide are actively exploring the potential of AI. They're deploying AI-powered tools for fraud detection, risk management, and personalized financial products. Chatbots powered by AI are streamlining customer service, while algorithmic trading is offering new avenues for wealth management. However, challenges remain. Regulatory frameworks are still evolving to address the unique use cases of AI in finance. Ensuring data privacy and mitigating potential bias within AI algorithms are crucial concerns. Additionally, the integration of AI requires workforce upskilling and a cultural shift within financial institutions.

This two-day AI in Banking Summit aims to address these challenges and opportunities head-on. We'll bring together leading experts, industry practitioners, and thought leaders to explore the cutting-edge applications of AI and generative AI in banking. Participants will gain insights into successful AI strategies, best practices for implementation, and the future trajectory of AI in banking.

This summit provides a comprehensive overview of AI in banking, ensuring participants not only understand the technology and its applications but also learn from the successes and challenges in other industries.

Key focus areas:

automation
Demystifying AI:

We'll break down the core concepts of AI and generative AI, making them accessible to bankers of all technical backgrounds.

automation
Building a Successful AI Strategy:

Learn from experts on crafting a roadmap for AI implementation within your financial institution.

automation
The Power of Personalization:

Discover how AI can be used to create customized financial products and experiences for your customers.

automation
Ethical Considerations:

We'll delve into the ethical implications of AI in banking, addressing issues of bias, fairness, and transparency.

automation
The Future of AI in Banking:

Join us for thought-provoking discussions on the potential of AI to reshape the financial landscape in the years to come.

Tour Itinerary

AI in Banking Summit

Day-1, 16 Oct 2024
08:30 - 09:00

Registration

09:00 - 09:30

The Future of AI: An overview of the Trends and Transformations we are looking at in banking

The financial landscape is rapidly evolving with Artificial Intelligence at the forefront. This session explores how AI is transforming banking, from customer interactions to core operations.

  • How will AI reshape the future of banking services and products?
  • What are the key opportunities and challenges presented by AI adoption?
  • How can banks prepare their workforce for the AI-powered future?

09:30 - 10:00

Demystifying AI for banking: Core technologies and their impact

Feeling lost in the AI alphabet soup? This session is your roadmap! We'll break down the key concepts of AI, including Machine Learning (ML) and Natural Language Processing (NLP), in a way that's easy to understand for bankers of all technical backgrounds. Get ready to unlock the potential of AI for your bank!

  • We'll start with a clear explanation of Artificial Intelligence (AI) and its core functionalities, dispelling common myths and highlighting its practical applications in the banking sector.
  • Understanding the basics of ML algorithms and how they can be used to predict customer behavior, assess credit risk, and detect fraudulent activities.
  • Examining how NLP transforms customer service and support through chatbots and AI-driven communication tools.
  • Strategies for bankers to adopt and integrate AI technologies effectively within their existing systems and workflows.

10:00 - 10:30

Morning Break

10:30 - 12:00

AI in the customer’s hands - the personalization of algorithms and user defined API’s

Open Banking: AI's gateway to financial innovation

Unlock the future of digital banking in this insightful session. Learn how strategic tech investments, AI, and collaboration are shaping the era of hyper-personalisation.

  • Is your institution leveraging the right technology to transform digitally and seize market share?
  • Impact of AI and ML on customer-centric digital engagements
  • Tailoring the experience: Generative AI, and its trajectory as the next frontier in reshaping the industry
  • Balancing personalization with privacy: Ensuring customer data security in an AI-powered environment

12:00 - 12:30

Understanding the regulator’s main concerns in AI

Regulation Revolution: Navigating the Evolving AI Landscape

The regulatory environment surrounding AI is constantly evolving. This session explores the current and upcoming regulations that banks need to be aware of.

  • Understanding key regulatory considerations for AI use in banking (bias, fairness, explainability).
  • How can banks ensure compliance with data privacy regulations (e.g., GDPR) when using AI?
  • Staying ahead of the curve: Proactive strategies for navigating future regulatory changes.

12:30 - 13:30

Lunch 

13:30 - 14:00

Beyond the ordinary: Unleashing generative AI to design the future of banking products

Get ready to break the mold! This session explores the revolutionary potential of generative AI to create entirely new and innovative banking products and services. We'll delve into how this technology can move beyond simple automation to reshape the financial landscape for the future.

  • Create personalized and dynamic financial products that adapt to individual needs and market conditions.
  • Identify and develop entirely new financial products and services that haven't even been conceived yet.
  • Unique risk management considerations when deploying generative AI in product development, ensuring responsible innovation within financial services.
  • The crucial role of human expertise in guiding and overseeing the creative process of generative AI, fostering a successful collaboration for the future of banking.

14:00 - 14:30

Beyond Plastic: The Future of Payments Powered by AI

Cash is fading, cards are swiping, but the future of payments is intelligent! This session explores how AI is revolutionizing the payments landscape, from frictionless transactions to enhanced security and personalized experiences.

  • Enabling seamless payment experiences, from biometric authentication to voice-activated transactions.
  • Analyse transaction data in real-time, identifying and preventing fraudulent activities before they occur
  • Personalise payment experiences, offering customers tailored recommendations for budgeting tools, loyalty programs, and financial products.
  • Emerging trends in AI-powered payments, such as open banking integration, the rise of digital currencies, and the potential for blockchain technology.

14:30 - 15:00

Learning from E-commerce: How personalization and optimization can supercharge your bank

This session will explore how e-commerce leverages AI for personalised customer experiences and optimised supply chain management, offering valuable insights for the banking sector looking to enhance operational efficiency and customer engagement.

  • How AI algorithms analyze customer data to deliver tailored shopping experiences, boosting engagement and loyalty.
  • Exploring AI technologies that predict demand, optimize stock levels, and enhance logistics, reducing costs and improving service delivery.
  • Streamline supply chains, optimizing logistics and minimizing disruptions – a strategy banks can adopt for faster loan processing and improved internal efficiency.
  • How the AI strategies used in e-commerce can be translated to enhance banking operations, from personalized customer interactions to efficient backend processes.

15:00 - 15:30

Integrating Large Language Models (LLMs) and advanced analytics in wealth management


Buckle up for a future-focused exploration of how AI, particularly LLMs, is revolutionizing wealth management and the financial sector as a whole. This session dives deep into the potential of AI to personalise investment strategies, optimise decision-making, and improve client experiences.

 

  • Potential benefits and challenges of LLMs in the financial industry, exploring their impact on investment analysis, risk management, and client interactions.
  • Create custom portfolio recommendations, predict market trends, and automate routine tasks within wealth management, fostering personalized and efficient client experiences.
  • Examine how AI is transforming other areas of the financial services sector, from fraud detection to loan underwriting..
  • Ethical use and the balance between innovation and customer trust.

15:30 - 16:00

Afternoon break

16:00 - 16:30

Decoding the Future: AI and the Cryptocurrency Revolution
Cryptocurrency and AI: Disruptive Technologies Reshaping Finance

Explore the dynamic interplay between AI and cryptocurrencies, examining how these technologies are not only reshaping the financial landscape but also redefining the possibilities within the banking sector.

  • Using AI to bolster security measures within cryptocurrency ecosystems, detecting and preventing fraud attempts.
  • Analyse vast amounts of cryptocurrency market data, offering valuable insights for investors and traders.
  • Emergence of AI-driven crypto products, such as algorithmic trading bots and risk management tools.
  • Examine the complex regulatory landscape surrounding AI and cryptocurrency, and how these technologies might influence future regulations.

16:30 - 17:00

Case Studies:

Cross-Industry AI Innovations: Lessons from Healthcare, Retail, and Logistics

AI isn't just for bankers! This session explores how cutting-edge industries like healthcare, retail, and logistics are pioneering AI for innovation. Get ready to learn from their success stories and spark inspiration for your own banking applications.

  • How retailers leverage AI to personalize customer experiences, predict buying trends, and optimize inventory management.
  • Assisting healthcare professionals with faster, more accurate diagnoses and personalized treatment plans.
  • Streamlining logistics operations, from intelligent route planning to predictive maintenance for delivery fleets.

End of Day-1


AI in Banking Summit

Day-2, 17 Oct 2024
09:00 - 09:30

Beyond Bitcoin: AI Unlocks the Potential of Digital Assets

This session explores the intersection of AI and digital assets, focusing on how artificial intelligence is reshaping the management, trading, and security of digital currencies and other financial technologies in the banking sector.

  • Develop sophisticated trading algorithms that optimize digital asset trading strategies for increased profitability and reduced risk.
  • Securing digital transactions and protecting against fraud in the digital asset ecosystem.
  • Helping financial institutions navigate the complex regulatory landscape of digital assets, ensuring compliance through automated monitoring and reporting.
  • Predicting trends and innovations in AI that will further influence the digital asset market, offering a glimpse into the future of finance.

09:30 - 10:00

Understanding what AI will do to blockchain: identity and operations

Blockchain and AI: Pioneering a new banking frontier

Delve into the transformative impact of blockchain and AI in reshaping the financial landscape. This session will delve into how the integration of blockchain and AI is creating new paradigms in banking, focusing on the changing nature of cryptocurrencies, the transparency it brings to transactions, and the enhanced security offered by these technologies.

  • Crypto dynamics: Exploring the evolving role of cryptocurrencies.
  • Transparent transactions: Enhancing transactional clarity and trust.
  • Security advancements: Strengthening financial systems through AI and blockchain.

10:00 - 10:30

Morning break

10:30 - 11:00

Integrating AI with existing banking core systems: Bringing the general ledger to life
Cracking the code: AI and the legacy labyrinth - Reanimating your core banking systems
Revitalizing the general ledger: AI integration in core banking systems

Tired of wrestling with outdated core banking systems? This session explores how AI can act as your digital decoder ring, unlocking the hidden potential within your legacy infrastructure and bringing your general ledger to life.

  • Strategies for integrating AI with existing core systems, bridging the historical data gap and unlocking valuable insights trapped within spreadsheets.
  • How AI can analyze vast transaction data, transforming static ledgers into dynamic forecasting tools that predict future trends and inform proactive decision-making.
  • Automating routine tasks, reducing errors, and speeding up financial processes within the general ledger.
  • The future of AI-powered core banking systems, highlighting the potential for increased agility, real-time risk management, and a data-driven approach to financial services.

11:00 - 11:30

Cloud-enabled digital transformation in banking

Dive into this session to explore the pivotal role of cloud infrastructure in revolutionizing digital strategies within the finance sector. We’ll discuss how leveraging cloud technology enhances the operational agility and innovation capabilities of banking institutions.

  • Leveraging cloud for operational agility: Examining how cloud infrastructure enhances banking operations and innovation.
  • Scaling AI solutions in the cloud: Strategies for efficiently deploying AI technologies in a cloud environment.
  • Ensuring data governance and compliance: Addressing data security and regulatory challenges in cloud-based banking systems.

11:30 - 12:00

Building an AI-Ready Workforce: Training, Culture, and Change Management
Beyond the hype: What Generative AI means for the future of work

Developing a successful AI strategy requires the right team. This session provides a framework for building an internal AI team or establishing partnerships with external experts.

  • Identifying the skillsets needed for a successful AI team (data scientists, engineers, etc.).
  • Building internal expertise vs. partnering with external AI vendors.
  • Fostering a culture of innovation: Encouraging collaboration and experimentation within the bank.

12:00 - 12:30

Ethics in AI: Balancing innovation and responsibility

We will explore the essential balance between innovation and ethical responsibility in AI usage, focusing on the development of transparent AI models, adherence to regulatory standards, and proactive measures for bias prevention in the financial sector.

  • Clarity in AI decision-making: the importance of transparent ai systems.
  • Staying ahead of regulations: navigating the evolving compliance landscape.
  • Bias mitigation: strategies for equitable ai algorithms.

12:30 - 13:00

Paradigms in handling fraud and risk management in an AI defined world
Navigating the AI Fraud Frontier: New Challenges in Banking Security

As the financial services industry embraces generative AI and other advanced technologies, new horizons in fraud prevention and risk management are emerging. This session will delve into the evolving landscape of financial fraud, driven by sophisticated AI tools that both combat and facilitate fraudulent activities.

  • How AI shifts fraud detection from rigid rules to adaptable models that learn and evolve alongside evolving fraud tactics.
  • How AI can identify complex patterns in vast datasets, uncovering hidden threats that might escape human detection.
  • Move from reactive to proactive by using AI to predict potential fraud attempts before they occur.
  • Uncover how human expertise and oversight remain crucial in the AI-powered fraud and risk management landscape.

13:00 - 14:00

Lunch Break

14:00 - 14:30

Upping the customer service automation: Chatbots, Virtual Assistants, and Personalized Banking
Elevating Client Connections: The New Era of AI-Enhanced Customer Service
Beyond buttons: Conversational AI and the future of personalized banking

This session will delve into the transformative impact of AI technologies like chatbots and virtual assistants on customer service in the banking sector. As financial institutions strive to enhance customer experiences, these AI tools play a crucial role in personalizing banking interactions and increasing service efficiency.

  • Uncover how Conversational AI goes beyond basic menus, enabling natural, engaging interactions between customers and virtual assistants.
  • Discover how AI can personalize customer service interactions, offering targeted support and recommendations based on individual needs.
  • Explore the potential of AI-powered virtual assistants that can handle complex tasks, from account management to financial planning.
  • How to strike the right balance between automation and human interaction for a seamless and personalized banking experience.

14:30 - 15:00

AI for Better Decision Making: Analytics and Insights in Banking
Harnessing the data wave: AI's new horizons

This session will focus on the innovative use of various data sources, including IoT and social media, to enhance AI applications, offering deeper customer insights and driving more informed financial decisions.

  • IoT insights: Capitalizing on IoT data for enriched financial analysis.
  • Social media intelligence: Gleaning customer preferences from social analytics.
  • Customer insight mining: Deriving deep insights from diverse data streams.

15:00 - 15:30

Afternoon break

15:30 - 16:00

AI for Sustainable Finance: Powering Greener Investment Decisions

This session explores the intersection of Artificial Intelligence (AI) and Sustainable Finance, examining how AI empowers financial institutions to make data-driven decisions that support a greener future.

  • Discover how AI can analyze vast amounts of ESG data, allowing for more comprehensive and informed investment decisions.
  • How AI can be used to identify and mitigate environmental and social risks associated with investments.
  • Greener Investment Strategies: Create and optimize investment portfolios that align with sustainability goals.
  • The future of sustainable finance: The evolving role of AI in driving a more sustainable financial future for all.

16:00 - 17:00

The Next Decade of AI in Banking: Mapping your own AI Journey
Building an AI Strategy for Your Bank: Charting the Course to Success

In today's rapidly evolving financial landscape, AI presents a wealth of opportunities for banks. However, navigating the world of AI and implementing it effectively requires a well-defined strategy. This session will equip you with the tools and frameworks needed to build and execute a winning AI strategy for your bank.

  • Understanding your "Why": Identify your bank's specific goals and objectives for deploying AI. What challenges do you aim to solve? What areas do you see AI enhancing?
  • Building a strong foundation: Learn the crucial steps for building an AI-ready infrastructure, including data management, talent acquisition, and cultural change.
  • Prioritizing use cases: Framework for identifying the most impactful use cases for AI implementation within your bank, considering factors like feasibility, ROI, and regulatory compliance.
  • Roadmap to implementation: Essential steps for developing and implementing your AI solution, from model selection to deployment and monitoring.
  • The Future of AI: A glimpse into the future of AI in banking, keeping you ahead of the curve and prepared for emerging trends.

16:30

End of Summit


Tour Hosts

Marla Sofer
Marla Sofer
Founder & CEO, knomee

Who should attend?

bank

CEOs, business heads and senior executives of retail banking, SME finance, wealth management, credit cards and consumer credit who need to keep abreast of the latest industry trends & strategies

bank

Senior executives of operations, technology, systems and methods who need to gain insights into the business side of retail banking, insurance, asset management firms and private equity

bank

Senior executives of risk management, controls and business development

bank

Regional managers, branch managers, and heads of marketing and distribution who need to expand their skill sets in a changing world

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