IBM Writes on Trustworthy AI in a new Blog:
Financial services: Trustworthy AI’s promise and payoff
IBM, Forrester, UBS, Regions Bank, and State Bank of India show how to build AI responsibly
By Jennifer Clemente
Data: It’s becoming richer, cheaper, and increasingly open in the post-pandemic world of broad digitalization. And for financial services organizations, this windfall is opening pathways to improve business performance with end-to-end intelligent automation and hyper-personalized services to satisfy customers’ expectations.
As data gets cheaper, trust grows in value
For banks, insurance companies and other financial institutions on a quest for reinvention, the pressure to play catch up, or leapfrog means fast-tracking AI deployments while balancing governance, risk and compliance needs.
According to a January 2020 Forrester Consulting study commissioned by IBM, Overcome Obstacles to get to AI at scale, 40 percent of the participants report data governance issues are a serious concern. Additionally, 58 percent of its participants indicated that data quality issues are the number one challenge in their organization.
Now the good news.
A trusted architecture based on data and AI solutions generates higher business value, according to Brandon Purcell, Vice President and Principal Analyst at Forrester who spoke at a recent Data and AI Virtual Forum keynote, Trustworthy AI: Forging the future of banking, insurance and financial markets. .... '
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