No.
Anything else?
'Don't be silly, boss. Do the email.'
Uh.
Uh.
Uh.
'Stop saying "Uh", and get on with it!'
Dear Michael,
With the usage of Artificial Intelligence on the rise for the past couple of years, more and more Fintech businesses across the globe have chosen to implement AI in their business. Predictions suggest that by 2023, 54% of organizations with more than 5000 employees will have implemented AI systems.
Yeah, yeah ... and then all these employees will be sleeping under the arches, won't they?
However, as with any disruptive technology, adopting AI comes with unique challenges. Data privacy, security, the "black box" problem, and potential model degradation require close monitoring and careful mitigation strategies. Baltic Amadeus' data scientist, Darius Padvelskis, states that understanding these limitations is crucial to prevent unintended consequences.
Er, hang on ... what about the ex-employees under the arches???
Attached is a press release that delves deeper into this subject matter. Should you wish to discuss this further, I can arrange a conversation with Darius Padvelskis or provide additional resources.
Best Regards,
Laura
Oh, I don't want to -
'Darius! Ain't that the guy Alexander had a beef with?'
No, Voice. It's a different Darius.
'Oh.'
July 25, 2023, Artificial Intelligence has considerably impacted the financial services industry in recent years, especially since the advent of OpenAI in late 2022. According to the Economist Intelligence Unit, 54% of financial services organizations with over 5000 employees have implemented AI systems. Most recently, the now-familiar customer-facing chatbot has been joined by more advanced implementations of generative AI in behind-the-scenes processes.
Right.
'Where the hell is Darius?! Has he sped off in his chariot?'
What?! No.
Darius Padvelskis, a data scientist at Baltic Amadeus - a software development and IT consulting company, explains, "It is crucial for Fintechs to stay mindful of the fact that AI systems are not without their limitations and that those limitations can lead to unintended consequences when they are not properly evaluated."
He's just a data scientist.
'Oh, okay.'
ENDS
ENDS
ENDS
"To reduce the risk and potential impact of a data security breach," Padvelskis says, "Fintechs who use AI would be well-advised to implement robust AI security compliance programs."
Fine.
Thank you, Darius.
ENDS
"For all its power," Padvelskis says, "or perhaps because of it, AI is still most effective when its tasks and data environment are precisely defined, and human monitors are near a hand to keep it in check."
Uh.
FFS.
Uh.
Uh.
ENDS - !!!
"Because AI algorithms are extremely complex, explaining how and why certain decisions are reached can be difficult. This lack of transparency can have legal, ethical, or even just reputational implications for banks and Fintechs who use AI."
This guy is unbelievable.
'Throw a spear at him!'
No!
Don't be so bloody stupid, Voice.
There's no need for anything like that.
ENDS
ENDS
ENDS
ENDS
ENDS
ENDS
ENDS
ENDS
ENDS
"Undoubtedly, AI can and will help Fintechs achieve their aims. But doing so will require keeping a close eye on things; implementation must be done carefully and deliberately," explains Padvelskis.
