Jersey Finance publishes AI report

Posted: 18/03/2021

JerseyFinance AI INTROJersey Finance used its annual Fintech Update event this week to launch the first in a series of reports this year examining the use of artificial intelligence by the financial services community, globally and in Jersey.

The introductory report covers:
• A history of AI – from humanoids to harmonisation, how AI has developed from the initial robots of the 1960s, through to virtual assistants, chatbots and deep-learning capabilities
• Defining AI – based on tasks performed, ability and intelligence, or the capability to think and feel like a human
• Why now for AI? Looking at the factors which have led to this being an ideal time for AI to thrive
• How the finance industry can take advantage of AI – discussing automation and computation applications, and existing and potential uses of AI in finance, along with the challenges faced by firms looking to take advantage of the technology
• Benefits of robotic processing automation and, beyond automation, how machine learning presents significant opportunities for the finance industry to improve service, productivity and risk management
• Overcoming myths, assumptions and key challenges in order to realise the benefits of using AI-based solutions.

To download a copy of the report click here 

Future reports in this series will focus on legal and ethical considerations, improving back-office productivity, and making a positive impact on client experience.

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