Artificial Intelligence (AI), being in simple words a simulation of human intelligence processes by machines (such as computers or networks), is not science fiction anymore and has become a reality. Generally, AI is implemented in systems that are able to acquire information, make reasoning based on collected data, react to reach a pre-defined goal, and self-correct own actions. Many industries, including banking and finance, have started to experiment with AI technology.
ABBL’s Digital Banking and FinTech Innovation (DBFI) Cluster brought this topic to the priority of its agenda in order to demonstrate that AI is no longer another buzz-word but a technology that has already many use-cases in the financial services industry.
ABBL Meets Members event «Artificial Intelligence for Customer Insights in Finance» held on 13 December 2018 was one of the examples drawing the attention of bankers to the role of AI in customer behaviour prediction.
After a welcome speech by Marc HEMMERLING, General Counsel, Digital Banking, FinTech & Payments, ABBL, and the presentation of DBFI Cluster by Jean HILGER, Head, ABBL’s Digital Banking and FinTech Innovation Cluster (DBFI), BCEE, Patrick LAURENT, Partner, Technology & Innovation Leader, Deloitte explained the outcomes of Deloitte‘s joint with World Economic Forum report on how AI is transforming the financial ecosystem.
Furthermore, the following solution providers not only demonstrated their AI-driven products and services to ABBL members but also met bankers in the dedicated exposition space to explore potential cooperation:
- Dan Vultur – Account Manager Benelux – Amazon Web Services
- Michel Van Der Poorten – Cognitive Business Development Executive, Financial Services Sector – IBM
- Jason Curtis – European Sales Manager – Personetics
- Rein Bryssinck – Director Sales – SAS
- Stanislas Rohmer – Head of Sales and Marketing – SESAMm
- Chris MacTaggart – Senior UX Designer – Tink
As a culmination of the event, the ABBL released its new video clip describing in a nutshell how ABBL’s DBFI Cluster facilitates cooperation between banks and FinTech firms in Luxembourgand strives for supporting its members in embracing disruptive technologies to satisfy expectations of more and more demanding customers. And the most interesting is the fact that one of the music tracks for the video clip was written by an Artificial Intelligence composer.
By Andrey Martovoy, ABBL, FinTech Adviser