As Open Banking spreads across the globe, the unleashing of data will open up new market opportunities for both incumbents and startups, with the potential to radically transform the industry, creating new winners, losers, rewards and challenges.
Big data powered by artificial intelligence (AI) is dramatically reshaping the global financial services industry. Open Banking promises to transform it even further, as vast financial data sets are decoupled from incumbent institutions. AI in Finance and Open Banking training course will first take the participants through the basics of AI, and then explore the many opportunities it provides in the data-intensive industry of finance while flagging the pitfalls they may face in adoption.
OBJECTIVES
At the end of the AI in Finance and Open Banking training course, you will be able to :
Examine the potential and power that AI can bring to the financial services industry
Learn to think strategically about AI and understand the business impact as access to financial data becomes more open
Explore what is happening in the major financial centres and regions that are leading the way in Open Banking
Develop a deep understanding of the AI-driven data economy and how it impacts Open Banking
Learn how Open Banking emerged, the need for it, and how AI is driving and delivering new services and products
WHO SHOULD ATTEND ?
AI in Finance and Open Banking training course, is ideal for :
An entrepreneur, business leader, or executive who wants the strategic insight and actionable knowledge to create new ventures or develop both short and long-term business strategies for Open Banking driven by AI
A manager, director, or professional in either a private or public sector financial services organisation
Intellectually curious and motivated and in the midst of, or aspiring towards, a career transition or looking for future-fit skills in financial tech or banking
COURSE OUTLINE
Day 1
Introduction to AI and Data Basics
Differentiate between ML and AI use in banking, and how both can be used to solve consumer challenges
Understand how AI complements human intelligence and how can this be used to solve specific business problems
Learn why data-based decision making impacts end consumers and transforms industries
Understanding the ethical challenges that arise from AI and ML
Day 2
Open Banking and the Data Revolution.
How Open Banking is creating competition for the incumbents by unbundling the financial services that banks offer, and the opportunities being created
Thinking through the challenges and the regulations, considering views from different markets and how Open Banking has been regulated
Evaluating what opportunities and challenges have arisen, and what impacts have been made on the industry
Day 3
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AI in Incumbent Banks and The Opportunities for New Entrants.
Views from incumbent banks with a realistic view of how they are making use of AI, their challenges and successes, potential for services enhancement, and how they can transform themselves through AI
Views from new fintech entrants, the opportunities they are presenting, and the challenges that they are facing
Platforms as Key Market Players.
Who are the platforms - Amazon, Google, Apple, etc. - and how are they disrupting the financial sector with data?
How will regulations and Open Banking impact platforms?
What should businesses be thinking about and doing in the face of possible disruption by the platforms?
Day 4
AI Opportunities, Pitfalls, and Ethics
How can discrimination and privacy issues be avoided in data usage?
What are the current related legal challenges and how are they dealt with around the world? Compare the ethics of competition between small and large companies
Day 5
Open Data, AI Strategy, and The Future.
What opportunities and challenges does it create?
Understanding the evolving nature of AI and how to create feasible strategies
Evaluate trend predictions for both the private and public sector
Synthesise your six week learning journey with presentation of an experiential learning capstone project
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