Artificial Ignorance is a term that relates to machine learning and anomaly analysis, but as a concept, it can remind us to put in a process that ignores the noise of data overload and to focus on solving a problem, winning an opportunity, or optimizing a business. In this post, we tie this to an important risk management concept: Identify, Measure, Monitor, and Report.
Adapting to change in financial services requires efficient ways to understand and communicate actionable insight from data. Data visualization is the standard by which to uncover insights, trends, and hidden opportunities. However, we now have access to very practical tools that allow us to explore data through written word, or Natural Language Generation (NLG). When it comes to telling a story from your data, that story could be automatically written for you.
Intelligence (artificial or real) is as good as the information it uses. A higher volume of relevant information provides deeper context to a situation, resulting in heightened intelligence, increased value, and better outcomes.
Location Intelligence is a data asset that helps to contextualize a situation and can augment machine learning and other applications of artificial intelligence. This post considers how location intelligence can be applied to regulatory compliance initiatives, specifically fraud examination and forensic audit to combat financial crime.
Great feats of innovation can die a slow and unremarkable death if they are not adopted by the organization. Adoption requires a comprehensive approach to integration that recognizes the importance of how people work as well as a sound, technical implementation. By keeping the solution simple and promoting the value of that solution through broad community feedback, you can maximize the adoption of innovative solutions across the organization.
This video shows how Artificial Intelligence and Natural Language Generation can be used to automatically generate a clear and concise narrative from Excel data. We then directly use that commentary as an email response. The demo is purposely plain (no flashy colors and it is operational in nature) because we want to show how this tool can be used in an everyday, impromptu situation.
Deterministic A.I. can help financial institutions process high volumes of Client Suitability analysis. By automating large amounts of decision-making and data analysis, financial institutions can limit their regulatory risk and increase efficiency. In addition, Deterministic A.I. can increase uniformity in decision-making by limiting personal biases and errors.