Course Details
Course Outline
5 days course
Introduction to AI and Data Basics
- Introduction to AI and ML concepts and features
- Recognizing the role of data science in AI and the usage of big data in model training
- Analyzing the complementation between AI and human intelligence and its role in solving business problems
- Discovering many applications of AI in finance
- Discussing ethical challenges and concerns of AI
Open Banking and Data Revolution
- Definition of Open Banking and its Impact on Consumers and Businesses
- Understanding regulatory frameworks and compliance requirements surrounding Open Banking
- Exploring types of Application Programming Interfaces (APIs) used in open banking
- Exploring the way open banking encourages innovation and competition among financial institutions
- Discussing data privacy and security considerations in open banking
- Analyzing opportunities and challenges associated with open banking
AI Applications in Financial Services
- Steps of developing an AI strategy for financial institution
- Exploring how to leverage AI in customer service:
- Chatbots
- Robo-advisors
- Personalized banking
- Discovering the application of AI for algorithm trading and portfolio management
- Understanding the way of using AI for fraud detection and prevention
- Exploring AI-driven risk assessment and management tools
- Discussing challenges in implementing AI in financial services
AI-Driven Opportunities for Open Banking
- Discussing the advantages and opportunities AI provides for incumbent banks and new fintech entrants
- Discovering innovative applications of AI in Open banking:
- Blockchain
- Cryptocurrency
- Analyzing the integration of AI with open banking platforms for better analytics and insights
- Understanding the disruption in finance sector using data by key market players e.g. Amazon, Google, Apple, etc.
- Determining the role of regulations and Open Banking in limiting platform influence
- Discussing best practices and actions to face disruption by platforms
Ethical Considerations and Future Trends
- Discussing ethical considerations and legal challenges of using AI in finance and open banking
- Methods to avoid discrimination and privacy issues in data usage
- Discussing the level of consumer trust in the adoption of AI and open banking technologies
- Analyzing the impact of future trends on the finance industry
- The final presentation of AI strategy in finance and open banking
- Summary, lesson learned and best practices
