Q&A: How Discover Financial Services created an AI governance council

The financial services industry has gone through an upheaval over the past several years with “open banking,” where customers control their financial data, has replaced the traditional model. That change has forced the industry to accelerate the adoption of digital technology.

At the same time, customer data remains at the epicenter of the financial services industry, so the need to protect, store, and leverage it is gaining importance. Along with big data and advanced analytics, artificial intelligence is the new frontier in financial services’ quest to stay competitive while also protecting sensitive data.

AI can be used in financial services for demand and revenue forecasting, anomaly and error detection, decision support, cash collections, and a myriad of other use cases.

To read this article in full, please click here

​ The financial services industry has gone through an upheaval over the past several years with “open banking,” where customers control their financial data, has replaced the traditional model. That change has forced the industry to accelerate the adoption of digital technology.At the same time, customer data remains at the epicenter of the financial services industry, so the need to protect, store, and leverage it is gaining importance. Along with big data and advanced analytics, artificial intelligence is the new frontier in financial services’ quest to stay competitive while also protecting sensitive data.AI can be used in financial services for demand and revenue forecasting, anomaly and error detection, decision support, cash collections, and a myriad of other use cases.To read this article in full, please click here   Read More Computerworld 

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