Background:

The growing use of advanced technologies (artificial intelligence (AI) and Machine Learning (ML) by financial institutions when adopted with adequate safeguards can contribute in significant ways to business growth. While AI/ML offers benefits like improved operational efficiency, regulatory compliance, personalized financial products, and advanced data analytics, have to understand the several AI-related vulnerabilities and their potential to exacerbate existing risks and introduce new risk implications. It is important for the Board members and senior executives to develop and demonstrate a measurable understanding of how AI/ML can reshape the organisation. To reduce the disconnect between the CEOs and Boards on crucial AI/ML issues, it’s no surprise that AI literacy is rapidly becoming a baseline expectation for board membership, not a differentiator. Boards need to better understand the gap between headline AI hype and reality, and focus on not what AI can replace rather than seeing where it can realistically augment human expertise. AI in finance is not only a technology challenge but it is also a governance, capability, and cultural challenge. 

Objective:

It is designed for Board Members and Senior Executives who want to understand how to apply AI/ML and generative AI to business strategy, operations, and organizational leadership, without requiring a technical or engineering background. The program aims to provide an overview of the promise AI/ML holds in banking and financial sector.