“‘It’s not even clear what the difference is between AI and software,’ said Oren Etzioni, CEO of the Allen Institute for Artificial Intelligence He believes the rules should include a mandatory kill switch on all AI programs and requirements that AI notify users when they are not interacting with a human.” (GeekWire Photo / Monica…
Tag: regulation
Artificial Intelligence: These 3 charts show what people really think
Image: REUTERS/Darrin Zammit Lupi “’Artificial intelligence is one of the most powerful tools we have as a society,’ said Kay Firth-Butterfield, Head of Artificial Intelligence at the Forum. ‘But, without a governance structure to provide the guardrails for how we interact with this, we risk leaving large parts of the population behind.’” https://www.weforum.org/agenda/2019/07/artificial-intelligence-these-3-charts-show-what-people-really-think/
Trends to Watch in Regulatory AI
“According to PwC, 20% of business executives surveyed plan to incorporate AI throughout their companies in 2019. According to a survey by Duff & Phelps, compliance costs in the financial sector are on pace to double by 2022 – a staggering amount considering the current spend for compliance and regulatory obligations is already $270+ billion…
The end of code, the beginning of bank future proofing
Even with the emergence of today’s RegTech innovation, most institutions today need more than 12 months to make regulatory changes. The cause: custom coding. No code software builds itself and gives managers of customer onboarding and KYC functions visual tools to easily configure unique nuances—using business metaphors that automatically generate code and user experience Artificial…