INSIGHTS FROM SFNET’S CONVENTION Risks and Opportunities: Daniel Barsky delved into the deeper existential and legal questions posed by AI, reflecting, “Science fiction showed us questions coming up 350 years from now, and this technology has plopped them in our laps right now.” His discussion underscored the pressing need for a legal and ethical framework to navigate these emerging technologies.
Ryan Jaskiewicz is CEO of 12five Capital, LLC. He started 12five Capital in early 2006 at the age of 23. Responsible for overseeing all facets of the business, he focuses his efforts heavily on systems, processes and. He successfully grew the business from zero dollars in revenue or funding to a company of twelve people, topping over $35mm in net funds employed over the last 15 years.
Challenges and Opportunities The conversation on challenges was particularly revealing. I highlighted the operational difficulties, especially the potential for AI to scale fraud alongside efficiency. “While these tools can speed and accelerate my team at scale, it can also accelerate fraud at scale,” I pointed out. Eldon Richards responded to this concern by emphasizing the need for countermeasures, stating, “We will need to create tools using AI to fight the people using AI to defraud others.” This discussion underscored the ongoing arms race in technology and security within the financial sector. Encouraging AI Adoption
The panelists collectively stressed the importance of embracing AI with a balanced and informed approach. We discussed the need for pilot projects and gradual scaling, ensuring that AI integration in financial operations is not only efficient but also aligns with ethical standards and regulatory requirements.
The panelists collectively stressed the importance of embracing AI with a balanced and informed approach. We discussed the need for pilot projects and gradual scaling, ensuring that AI integration in financial operations is not only efficient but also aligns with ethical standards and regulatory requirements. Conclusion
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THE SECURED LENDER JAN/FEB 2024
The panel at the SFNet Annual Conference brought to light not just the opportunities but also the intricate challenges that AI presents in the world of secured finance. The insights shared by the panelists, particularly on the latest AI developments and the complexities they introduce, are invaluable for guiding the industry in this new era of technological advancement.