VIDEO: An AI4 Panel Discussion on The State of AI in Banking
By Carlos Russo • September 23, 2020
Metis Sr. Data Scientist Javed Ahmed recently took part in a panel discussion about The State of AI in Banking during an online Ai4 event along with data and analytics leaders from Moody's Analytics, KeyBank, Grupo Financiero Banorte, and JP Morgan Chase.
The panelists answered questions like: Is banking in the midst of an inevitable AI-driven transformation? In the time of COVID-19, have AI initiatives become a higher or lower priority? Where has AI made the most impact within the bank? and much more.
When asked the question: When it comes to people making your AI projects a reality, have you had to hire all new people? Upskill existing employees?, Javed replied, in part:
"In my experience, it's rare to have people say, 'Ok, we have a new AI initiative, let's go hire a whole new team.' It's more common to see people try to unlock the talent within their organization that can be applied in various places. AI initiatives increasingly permeate across all business areas,...so more people need to be involved and working on things that relate to AI or machine learning projects," he said. "I think it's more common to see upskilling, as it's hard to hire a large number of people in these areas."
Watch the full recording above to hear more from Javed and the other panelists.
In February, Metis Sr. Data Scientist Damien Martin wrote a post on how to foster a data literate and empowered workforce, which allows your data science team to then work on projects rather than ad hoc analyses. In this post, he explains how to carefully scope those data science projects for maximum impact and benefit.