“A report from Deloitte predicts that banks could take a big hit from fraudsters using deepfakes, voice cloning, and other hyperrealistic AI content to scam banks out of money. The consultancy predicts that generative AI could enable losses from fraud to reach $40 billion in 2027—up from $12.3 billion in 2023—a compound annual growth rate of 32%.”…
Tag: Digital Transformation
IBM Study: Banking and Financial Markets CEOs are betting on generative AI to stay competitive, yet workforce and culture challenges persist
Banks See Risk in Dependence on Big Tech’s AI Capabilities
“The concern is that problems at a single cloud computing company could potentially disrupt services across multiple financial institutions, per the report. Moving data into the cloud is expected to become more complex as the adoption of AI and computing power increases, requiring banks to notify regulators.” https://www.pymnts.com/news/banking/2024/banks-see-risk-in-dependence-on-big-techs-ai-capabilities/
For AI to really succeed, we need to protect private data
JPMorgan Chase is training every new hire on AI
“New hires at JPMorgan Chase are being trained to take on the growing potential of artificial intelligence, as the bank continues to establish itself as a leader in the space. ‘This year, everyone coming in here will have prompt engineering training to get them ready for the AI of the future,’ said Mary Erdoes, head of…